look news india
News India Live, Digital Desk: The Enforcement Directorate (ED) has busted a huge syndicate of illegal coal smuggling spread between Jharkhand and West Bengal. According to the chargesheet filed by the ED, this syndicate has made huge profits through extortion and money laundering in the last five years. Rs 650 crore Black money of more than Rs.
How did this syndicate work?
Gunda Tax (GT): The syndicate used to extort money from legitimate delivery order (DO) holders, transporters and buyers. Investigation revealed that this recovery ₹275 to ₹1,500 per tonne Which is about 20-25% of the actual value of coal.
Politics of pressure: Those traders who refused to pay ‘Gunda Tax’, their coal lifting and transportation were stopped. Due to this, Eastern Coalfields Limited (ECL) suffered huge financial losses as the coal remained lying in the mines.
Lala Pad and Shell Companies: Many shell companies and ‘Lala Pad’ (illegal operations register) were used to launder the money collected.
Political influence and corruption: According to ED, huge bribes were given to many government officials and political influentials of Jharkhand and Bengal to patronize this illegal business.
ED raids AAP MP Ashok Mittal’s premises
Meanwhile, the ED on Wednesday arrested Aam Aadmi Party (AAP) Rajya Sabha MP Ashok Mittal Major action has been taken against the educational institutions associated with it.
FEMA Violation Investigation: This raid has been conducted in connection with the investigation of foreign financial transactions under the Foreign Exchange Management Act.
Major Locations: Searches were conducted at about 10 places in Jalandhar, Phagwara and Gurugram. In this Lovely Professional University (LPU)Gurugram-based Tetra College of Business and Masters Union College of Business.
background: Ashok Mittal was recently appointed the deputy leader of AAP in Rajya Sabha. His son Pratham Mittal is the founder of these educational institutions based in Gurugram.
Other major news of Jharkhand
High Court strict on hellfire investigation: Jharkhand High Court has summoned the state’s DGP and SP regarding the delay in DNA testing.
Heat Alert: The temperature in Jharkhand is going to cross 40 degrees Celsius, due to which there will be severe heat wave in the coming days.
Treasury Withdrawal Check: The Finance Minister has ordered an inquiry into all the withdrawals made from the treasury since the formation of Jharkhand.
