Enforcement Directorate attaches over Rs 600 cr worth assets of Vandana Power

power plant is based out of Chhuri in Korba.

The Enforcement Directorate has attached the Rs 603 crores worth assets of the Vandana Power in its ongoing investigations in the coal scam probe.

The ED action is said to be carried out under the Prevention of Money Laundering Act.

The power plant is based out of Chhuri in Korba.

It is also being said that as per a RBI report, around Rs 1100 crores worth of assets of the company are already under Non-Performing Assets category.

It need be recalled that the company had been allocated Fatepur east coal block in Raigarh.

The coal block had also been allocated to certain other companies.

The CBI back in year 2014 lodged FIR against Vandana Vidyut and then raids were carried out on various office premises of the company in August of next year.

It may be recalled that the Vandana Vidyut had signed an agreement with the Chhattisgarh government to install 540 MW power plant in Chhuri but it is now alleged that there were many inconsistencies in the manner in which the company was being extended facilities.

Farmers whose land was taken for the power plant ended up losing both the jobs and the land.

The power plant eventually had to be closed down.

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