Dhanbad, July 29: The Enforcement Directorate (ED) has carried out what is being described as its biggest crackdown in Jharkhand’s coal belt, conducting simultaneous searches at more than 30 locations in Dhanbad as part of an investigation into alleged illegal coal mining, extortion, levy collection and money laundering.
The searches were carried out across Saraidhela, Katras, Jharia and Bank More and targeted premises linked to BCCL outsourcing businessman Lal Babu Singh (LB Singh), coal trader Anil Goyal and their associates.
According to information emerging from the investigation, the ED recovered documents linked to movable and immovable assets valued at over ₹600 crore. The agency also froze mutual funds worth around ₹160 crore and seized unaccounted cash of more than ₹1.02 crore during the searches.
Investigators also recovered documents relating to over 200 immovable properties, including plots, commercial complexes and mine-related holdings, with their estimated value stated to be between ₹500 crore and ₹600 crore. Digital devices and documents linked to multiple bank accounts were also seized as part of the operation.
The searches are part of an ongoing investigation into allegations of illegal coal mining, extortion, levy collection and money laundering. According to the information available, the action is in line with the Union Home Ministry’s reported “zero tolerance” approach towards coal theft and the parallel economy.
The ED is examining whether the assets were allegedly acquired through proceeds of crime, with the investigation focused on identifying and confiscating such properties under the provisions of the Prevention of Money Laundering Act (PMLA).
Officials are expected to further scrutinise the alleged network as the investigation progresses. However, no official statement detailing the findings of the searches had been issued at the time of filing this report.
The allegations are under investigation, and no court has determined the guilt or liability of the individuals named in connection with the case.
