ED attaches assets worth Rs 1,428 crore of Goldenland Group in chit fund case
Bhubaneswar, Apr 29 (PTI): The Enforcement Directorate on Tuesday said it has attached assets worth Rs 1,428 crore of Goldenland Group of Companies in a chit fund case.
In a statement, the ED claimed that its investigations have revealed persons, entities and companies associated with Golden Land Developers Ltd and GLP Developers Ltd illegally raised huge amounts of money from the public in Odisha and Andhra Pradesh in the garb of real estate development.
It had floated illegal financial businesses of lump sum deposits, recurring deposits, and monthly investment schemes, among others, in the guise of plot booking by alluring innocent people with the false promise of higher returns, the ED alleged.
"Large-scale diversion of cash to sister concerns and to the accounts of Directors and associates has also been unearthed," it alleged.
"Directorate of Enforcement (ED), Bhubaneswar Zonal Office has provisionally attached assets having present value of Rs. 1428 Crore of M/s Goldenland Group of Companies under the provisions of Prevention of Money Laundering Act (PMLA), 2002," the statement said.
Among these assets are bank deposits of Rs 15.06 crore, and about 1,000 acre of land in various districts of Odisha and Andhra Pradesh, besides some constructed buildings and structures.
The ED had in February last year carried out searches at properties of people connected to these companies in Odisha, Punjab, Chandigarh.
The agency initiated the investigation on the basis of an FIR registered by the CBI under various sections of the IPC.
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PM unveils Rs 10,601-cr fertiliser plant in Assam, unit to be commissioned by 2030
Namrup (PTI): Prime Minister Narendra Modi on Sunday laid the foundation stone of a Rs 10,601-crore brownfield ammonia-urea plant in Dibrugarh district of Assam.
The facility – Assam Valley Fertiliser and Chemical Company Ltd (AVFCCL) – will have an annual urea production capacity of 12.7 lakh metric tonnes and the project is scheduled for commissioning in 2030.
The PM, on the last day of his two-day Assam visit, laid the foundation stone of the plant here, located within the existing premises of the Brahmaputra Valley Fertiliser Corp Ltd (BVFCL).
In July this year, AVFCCL was incorporated at Namrup in Dibrugarh. The projectwas approved by the Union Cabinet in March this year.
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AVFCCL is a joint venture among the Assam government, Oil India, National Fertilisers Ltd (NFL), Hindustan Urvarak & Rasayan Ltd (HURL) and BVFCL.
Modi arrived in Assam on Saturday on a two-day visit, during which he unveiled multiple projects worth Rs 15,600 crore, months before the assembly polls next year.
"The AVFCCL Namrup ammonia-urea project is being established as a modern, energy-efficient, world-class fertiliser complex with an annual urea production capacity of 12.7 lakh metric tonnes, at an estimated investment of Rs 10,601 crore," the company said in a statement.
It said this upcoming facility will play a pivotal role in meeting the fertiliser requirement of Assam, the northeast region, West Bengal, Bihar, Jharkhand and eastern Uttar Pradesh.
"Beyond fertiliser security, the project is expected to act as a major catalyst for industrial growth, employment generation and regional economic development, creating hundreds of direct jobs and thousands of indirect employment opportunities," AVFCCL said.
The company also asserted that the foundation stone laying ceremony marked the revival of Namrup's legacy as the cradle of India's gas-based fertiliser industry, and will herald a new chapter of growth, sustainability and agricultural prosperity for the entire region.
The 'Bhoomi Poojan' took place in presence of Assam Governor Lakshman Prasad Acharya, Chief Minister Himanta Biswa Sarma along with other ministers, MPs, MLAs, senior officials and representatives of stakeholder organisations of the new company.
The state-run BVFCL is the only urea-making facility in the eastern India. The facility started production in January 1969, as a part of the Hindustan Fertiliser Corp Ltd (HFCL).
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BVFCL was formed in April 2002 after hiving off the Namrup Unit of HFCL. It is under the administrative control of the Ministry of Chemicals and Fertilisers, with 100 per cent shareholding by the Government of India.
It is touted to be the first factory of its kind in India to use associated natural gas as basic raw material for producing nitrogenous fertiliser.
The company has played a crucial role in the development of the northeastern region and providing farmers urea fertiliser, which is produced from cheap and locally available domestic natural gas, officials said.
As per the official website of the Department of Fertilisers, the company is now producing neem-coated urea and two organic fertilisers – liquid bio fertiliser and vermi compost under the brand name of 'Mukta'.
BVFCL has two operable ammonia urea units at Namrup, with small capacities, which were established in 1976 and 1987.
