ED attaches assets worth Rs 77.51 lakh in money laundering case

New Delhi, April 17 (IANS) Directorate of Enforcement (ED), Raipur Zonal Office has provisionally attached immovable property worth Rs. 77.51 lakh belonging to M/s. Sunil Sponge Private Limited (M/s. SSPL) under the provisions of Prevention of Money Laundering Act (PMLA), 2002.

The ED has initiated an investigation under the provisions of PMLA, 2002, based on a Complaint dated 05/09/2018 filed by the Chhattisgarh Environment Conservation Board, Raipur (CECB) under Sections 37 and 40 of the Air (Prevention and Control of Pollution) Act, 1981 against M/s. SSPL and its Directors.

In the said complaint, it was alleged that they had commenced operations of a 5 MW biomass-based power plant and started electricity production in their company viz. M/s. SSPL without obtaining the necessary operating consent from the CECB.

ED investigation has revealed that M/s. SSPL has commissioned and operated its 5 MW biomass power plant for the generation of electricity from March 2, 2018, and was functioning till July 12, 2018, without obtaining valid consent to operate from the CECB.

During the investigation, immovable property worth Rs. 77.51 lakh has been provisionally attached on 15.04.2025 under the PMLA, 2002.

Further investigation is under progress.

The ED is a law enforcement and economic intelligence agency of the Central government.

Established on May 1, 1956, the ED is responsible for enforcing economic laws and combating financial crimes.

The ED has its headquarters in Delhi, and it operates under the Department of Revenue, Ministry of Finance.

The primary mandate of the Directorate of Enforcement is to enforce two key laws -- the Prevention of Money Laundering Act, 2002, and the Foreign Exchange Management Act, 1999.

Besides, it is tasked with implementing the Fugitive Economic Offenders Act, 2018.

--IANS

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