Enforcement Directorate on Tuesday attached cash deposits worth Rs 25.44 crores of M/s Sunil Hi-Tech Engineers Ltd, Nagpur, under the Prevention Of Money Laundering Act, 2002, in the coal block case.
In the past, the Marki-Zari-Jamni-Adkoli Coal block situated in Wardha Coalfield in Yavatmal District in Maharashtra was allocated to M/s Maharashtra State Mining Corporation Ltd (MSMCL), a Government of Maharashtra Undertaking. MSMCL had then invited bids for mining and commercial use of coal and one of the bid conditions was that the bidder should have a minimum three years of experience in actual mining of open cast or underground mines. M/s Sunil Hi-Tech Engineers Ltd did not fulfil the technical evaluation criteria of the bid documents as it did not have the actual mining experience in open cast or underground mining operations.
In the process of evaluation of bids, DG Philip, the then MD of MSMCL had remarked about the ineligibility of M/s Sunil Hi-Tech Engineers Ltd in qualifying the technical criteria of the bidding conditions on account of the company not having any experience in mining activities. Despite this, the Tender Committee of MSMCL technically qualified M/s Sunil Hi-Tech Engineers Ltd which resulted in M/s Sunil Hi-Tech Engineers Ltd becoming H-1 bidder and it was awarded the contract. Later, on the basis of an FIR by CBI, investigation under PMLA, 2002 was taken up by the Enforcement Directorate.
Investigation under PMLA, 2002 revealed that M/s Sunil Hi-Tech Engineers Ltd transferred the mining related activities to one of its group companies named M/s Sunil Hi-Tech Energy Pvt Ltd and got allotted itself 1.86 crores equity shares of Rs 10 each of M/s Sunil Hi-Tech Energy Pvt Ltd for consideration other than cash. Investigation revealed that on account of being awarded the contract to develop the coal block, M/s Sunil Hi-Tech Engineers Ltd benefitted to the extent of Rs.25.44 crores by selling equity shares of M/s Sunil Hi-Tech Energy Pvt Ltd to Jaypee Group and M/s SHEL Investments Consultancy Pvt Ltd. Provisional Attachment Order dated March 13, 2018, has been issued attaching cash deposits of Rs.25.44 crores belonging to M/s Sunil Hi-Tech Engineers Ltd. Further investigation in this matter is in progress.