Coal smuggling case: ED questions Bengal ADG Gyanwant Singh

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Kolkata, Sep 24 | A West Bengal IPS officer posted as ADG in the state Criminal Investigation Department, Gyanwant Singh was questioned by the Enforcement Directorate in a multi-crore coal smuggling case at the agency’s New Delhi office on Friday.

Sources in the ED said that Gyanwant Singh was questioned by the investigators under the Prevention of Money Laundering Act (PMLA).

The ED officials believe that there was involvement of some police officers in the case and as Gyanwant Singh was ADG (Law and Order) between 2019 to 2021 when the smuggling took place, the investigators wanted to know from Singh whether he was aware of the coal smuggling taking place in Birbhum, West Burdwan, Purulia and Bankura districts of West Bengal. And if he was aware, what action was taken against the smugglers.

The ED also claims certain police officials of the state, especially of Bankura Police Station, were involved in transporting cash in official police vehicles.

Ashok Mishra, a police officer from Bankura Police Station, was earlier arrested by the ED.

Gyanwant Singh, a 1993 batch IPS officer, was heading West Bengal’s law and order till March 2021.

After Trinamool Congress’ Abhishek Banerjee and his wife Rujira Banerjee and law minister Moly Ghatak, he is the fourth person to get a call from the central agency investigating the coal scam. Though Rujira Banerjee refused to go to Delhi, Abhishek Banerjee went to the ED office in New Delhi on September 6 and was interrogated for nine hours. He was again called the next day but he refused to go. Later the ED issued a fresh notice and asked him to appear on September 21 which he avoided again. Ghatak also skipped the interrogation for the second time.

The case, under criminal sections of the PMLA, was filed by the ED after studying a November, 2020 FIR of the Central Bureau of Investigation (CBI) that alleged a multi-crore coal pilferage scam related to the Eastern Coalfields Ltd mines in the state’s Kunustoria and Kajora areas in and around Asansol. A local Anup Majhi alias Lala is alleged to be the prime suspect in the case.

The ED had earlier claimed that Ghatak was a beneficiary of funds obtained from this illegal trade. According to ED sources, the investigators have spoken to more than one person in this connection, collected information and recorded their statements. The name of Ghatak has come up on several occasions during these interrogations. Apart from the ED, the CBI is also investigating the coal scam.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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