ED arrests Chennai-based Coastal Energy promoter in money laundering case

BL Chennai Bureau | Updated on: Mar 04, 2022

The Enforcement Directorate has arrested Ahmed AR Buhari, promoter of the Chennai-based Coastal Energy Private Ltd, under Prevention of Money Laundering Act PMLA, 2002.

The arrest was in a money laundering case of ₹564.48 crore generated by the overvaluation of coal prices whereby the PSUs had paid higher prices, says a tweet by ED.

Published on March 04, 2022
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