Income tax sleuths raid Aryan Coal Ltd
NAGPUR: The investigation wing of income tax department on Thursday raided the premises of Aryan Coal Beneficiation (ACB) India Limited, a Delhi-based company having coal washeries in the region as well as neighbouring Chhattisgarh. Its chairman Captain RS Sindhu is the son-in-law of the late Sahib Singh Verma of BJP who was Delhi chief minister. Sindhu was also co-chairman of Assocham’s national committee on coal in 2009.
The action was initiated by taxmen in Delhi and covered ACB’s establishments in the city which include a flat and a couple of offices. Relatives of one of the non-executive directors Ajay Mirg live in Nagpur whose residence was raided. The income tax officials in Nagpur however preferred to remain tight-lipped on the issue, saying that the operations were being conducted by their counterparts in Delhi. The officer from Delhi also refused to divulge any details. Sources said the relative, Ashok Mirg, was not available when the raiding team reached his house. He was learnt to be in the US.
The company supplies washed coal from city-based subsidiary Western Coalfields Limited (WCL) to the state government-owned power utility Mahagenco apart from having a major presence in Chhattisgarh where South Eastern Coalfields Limited (SECL) operates.
This company is also reported to have faced a major probe by Central Bureau of Investigation (CBI) for allegedly pilfering coal from SECL’s mines. It was charged with pilfering high grade coal it received for washing to be sold in gray market for a premium. The episode had also kicked up a controversy as the case was taken up by the Raipur branch of CBI in Chhattisgarh after its counterpart in Madhya Pradesh dropped it.
ACB has established a 15MW wind power plant in the state and a power plant generating power from coal rejects in Chhattisgarh. Its customers include power utilities in Punjab, Gujarat and Andhra Pradesh apart from Mahagenco. It also supplies coal to corporates like Reliance Natural Resources Limited, Lafarge India, and Tatas.
Read full article: TOI
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