Ranchi: In one of its biggest crackdowns on illegal coal mining, smuggling, extortion, and levy collection in Jharkhand’s Dhanbad, the Enforcement Directorate (ED) has conducted raids at 31 locations, freezing mutual fund investments worth approximately Rs 160 crore linked to coal businessman L.B. Singh and seizing unaccounted cash amounting to Rs 1.02 crore, an official statement said on Wednesday.
According to an ED press release, the searches were carried out on Tuesday under the Prevention of Money Laundering Act (PMLA).
The raids targeted premises associated with coal traders Anil Goyal, L.B. Singh, Harendra Chauhan, their associates, relatives, and directors of linked companies in and around Dhanbad. Several others, including Ganesh Yadav, Pappu Mandal, Rohit Yadav and Madho Singh, also came under the agency’s scanner.
The ED initiated an investigation based on multiple FIRs registered by the Jharkhand Police against the said persons for their alleged involvement in the scheduled offences of illegal coal mining, smuggling of illegally mined coal/theft of coal, extortion/levy on lifting of coal and related illegal activities in the areas of Dhanbad & adjoining districts. The police has also filed charge sheets in many cases.
Investigations under PMLA revealed that the said persons have generated a huge amount of Proceeds of Crime by commission of scheduled offences, it said.
“In this process, many entities/persons were used by them for layering of Proceeds of Crime as well as to show the origin as untainted. The Proceeds of Crime generated was later on utilised in the acquisition of movable and immovable properties by them,” it said.
During the search action, Investment in mutual funds by LB Singh of nearly Rs 160 crore was frozen, and also, unaccounted cash amounting to Rs 1.02 crore was seized.
The search operations also resulted in seizure of substantial volume of incriminating evidence, including information/data related to more than 200 immovable properties (which is suspected to be acquired from PoC), several digital devices, books of accounts of entities controlled by the said persons, etc.
Earlier in November 2025, searches were conducted in the related cases wherein the premises of Anil Goyal, LB Singh & related persons/entities were covered.
Further investigation is in progress, the ED said.
(IANS)
