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The Hindu
The Hindu
National
Devesh K Pandey

UNBELIEVABLE: Ed arrests cepl promoter in coal import case | History Defined

ED

The Enforcement Directorate (ED) has arrested Ahmed A.R. Buhari, promoter of Chennai-based Coastal Energy Private Limited (CEPL), in a money-laundering case involving overvaluation of coal imported for supply to public sector undertakings (PSUs).

The ED probe is based on a First Information Report registered by the Central Bureau of Investigation (CBI) against Mr. Buhari and others, who included unknown officials of the National Thermal Power Corporation (NTPC), the Metals and Minerals Trading Corporation (MMTC) and Aravali Power Company Private Limited (APCPL).

Earlier, the Directorate of Revenue Intelligence had also conducted a probe and issued a show cause notice to CEPL under the Customs Act.

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