FINAL ORDER

24.09.2024 Dictated by: Rajesh Malhotra Present appeals u/s 26 of Prevention of Money Laundering Act, 2002 are filed by the appellants against the impugned order dated 13.06.2018 passed by Ld. Adjudicating Authority in Original Compliant No. 877/2018 vide which following properties of appellants were confirmed for attachment:

Movable Property Sl. Name of Owner Details of property Value of property in Rupees No.

1 Shri Naveen Indian Currency Rs. 47,65,680/- along with interest Kumar Gupta thereupon i. M/s Universal InfraworldPvt. Ltd. claimed Rs. 34,50,000/- out of the seized amount of Rs. 47,65,680/- from the possession of Naveen Kumar Gupta @ Naveen Kumar Singhal, Director of M/s Mahalaxmi Continental Ltd. situated at Gali No. 8-b, NH-37, Beltola, Guwahati.

ii. Smt. Sapna Singhal claimed an amount Rs. 45,680/- out of the seized amount of Rs. 47,65,680/- from the possession of Naveen Kumar Gupta @ Naveen Kumar Singhal, Director of M/s Mahalaxmi Continental Ltd. situated at Gali No. 8-b, NH-37, Beltola, Guwahati.

iii. Sh. Vipin Gupta claimed amount of Rs. 9,40,000/- out of the seized amount of Rs. 47,65,680/- from the possession of Naveen Kumar Gupta @ Naveen Kumar Singhal, Director of M/s Mahalaxmi Continental Ltd. situated at Gali No. 8-b, NH-37, Beltola, Guwahati.

iv. Sh. Naveen Kumar Gupta claimed amount of Rs. 3,30,000/- out of the seized amount of Rs. 47,65,680/- from the possession of Naveen Kumar Gupta @ Naveen Kumar Singhal, Director of M/s Mahalaxmi Continental Ltd. situated at Gali No. 8-b, NH-37, Beltola, Guwahati.

2. As per the facts of the case, Central Bureau of Investigation, Anti-Corruption Branch, Guwahati registered FIR No. RC0172011A0014 dated 19.09.2011 against Shri Naveen Kumar Gupta, Director of M/s Mahalaxmi Continental Ltd. for commission of offences u/s 120-B IPC r.w.s. 409, 467, 471 IPC and also r.w.s. 13(2) r.w. 13(1)(d) of PC Act, 1988 and the substantive offences thereunder.

As per FIR, during the year 2008, Assam Industrial Infrastructure Development Corporation was nominated as the nodal agency by the State Government of Assam for lifting 28,000 MT of coal from North Eastern Coal Field, Coal India Ltd., Margherita under Fuel Supply Agreement (FSA) for distribution of the allocated coal to small industrial units i.e. brick kilns, tea estates of Assam etc.

CBI investigation revealed that from very beginning Shri Nur Mohammad, the then MD, AIIDC in active collusion with M/s Mahalaxmi Continental Ltd. published tender notices twice in less circulated newspaper calling for the willing party to lift and distribute the coal on behalf of AIIDC under FSA to avoid the fair competition amongst the eligible units, and thereby, with an ulterior motive had favoured M/s Mahalaxmi Continental Ltd., Guwahati through Director Naveen Kumar Gupta and the said company was authorized to lift the allocated quota of coal from concerned colliery from AIIDC. CBI investigation revealed that 8301.23 MT of coal was actually distributed to AIIDC through their own mechanism and 19524.958 MT of coal was distributed by M/s Mahalaxmi Continental Ltd. Thus, total 27826.189 MT of coal was actually shown to be distributed amongst the small and medium scale users from May, 2008 to April, 2009. CBI investigation also revealed that Coal India Limited, Margherita released 40266.90 MT of coal to AIIDC and M/s Mahalaxmi Continental under FSA. Thus, 12440.711 MT of coal was not delivered to the end users and the same was misappropriated by M/s Mahalaxmi Continental Ltd.

in connivance with AIIDC officials which made loss to the CIL amounting to Rs. 2,08,81,674.96 (approximately).

During May, 2008 to April, 2009 coal was purportedly shown allocated/distributed in favour of 84 units of small and medium scale industries. During the course of investigation, out of 84 number of units, 55 number of units were examined which revealed that applications/bills etc. of their respective firms/units were neither signed by them, nor submitted by them