Taking cognizance of the over 17 FIRs filed by Central Bureau of Investigation (CBI) in Coal scam case, which caused an estimated loss of Rs 1.86 trillion to the national exchequer, the Enforcement Directorate (ED) has registered money laundering cases against those firms which are facing charges by CBI to investigate if these firms laundered illegal money and generated proceeds of crime in the entire process of coal allocation.
Further, post the registration of the cases, the agency has issued directions to its various zonal offices across the country to begin investigations under the Prevention of Money Laundering Act (PMLA) in the financial dealings of the firms which have also been booked by CBI in this case. During the same investigation, the ED will also investigate the issue of foreign exchange contravention by the firms which have now been asked by the agency to provide relevant documents. The probe by both these agencies would be monitored by the Supreme Court.
CBI after conducting three preliminary enquiries related to coal block allocations between 2006 and 2009, 1993 and 2004 and projects given under a government scheme, registered FIRs. Meanwhile, the firms against whom cases have been registered include Castron Technologies, Jharkhand Ispat Private, Pushp Steel and Mining, JSPL, RSPL, Grace Industries, Jharkhand Ispat, Green Infrastructure, Hindalco, BLA Industries and Nav Bharat Power.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: