The Enforcement Directorate (ED) has provisionally attached assets to the tune of Rs 452 crores belonging to a Singapore company in connection with its probe into alleged money laundering associated with irregularities in IL&FS group companies.
The agency claimed it has attached assets, in the form of shares, that M/S AS Coal Pte Singapore held in ILFS Tamil Nadu Power Company Limited (ITPCL). Owned by British national Jaimin Vyas, AS Coal, which ED has claimed is a shell company, had acquired 8.86% shares in ITPCL. This has been identified by ED as proceeds of crime owing out f kickbacks that Vyas received for favouring a Chinese company with an ITPCL contract.
