New Delhi, Aug 14 (SocialNews.XYZ) The Enforcement Directorate (ED) on Saturday said that it has attached properties worth Rs 134 crore of Aatash Norcontrol Limited (ANL) in Gujarat Maritime Board scam, officials said.
An ED official said that the agency attached the properties worth Rs 134.38 crore of Aatash Norcontrol Ltd under the provisions of Prevention of Money Laundering Act. He said that the attached assets are in the form of plant, machinery, computer and computer software, land and building worth Rs 90.62 crore and bank balances in form of fix deposits of Rs 43.75 crore.
The official said that Aatash Norcontrol Ltd is a JV between an Indian company Aatash Computers and Communications Pvt Ltd and Norway based Kongsberg Norcontrol IT AS.
This company is engaged in construction and operation of Vessel Traffic and Ports Management System (VTPMS) and it provides navigation services to the vessels.
The official said that the ED registered a case of money laundering on the basis of FIR registered by CID-Crime in Gandhinagar against Aatash Norcontrol Ltd (ANL) and others for committing fraud of Rs 134.38 crore with Gujarat Maritime Board (GMB).
He said that the money laundering investigation revealed that ANL was awarded a contract by GMB for building and operating "Vessel Traffic and Port Management System" (VTPMS) for Gulf of Khambhat. "However, ANL submitted exaggerated cost of the project to GMB and thereby misled the GMB into fixing higher tariff rates for navigation of vessels. The VTPMS infrastructure became operational in August, 2010 and thereafter, ANL started collecting the VTS Fees or charges from the vessels as per the concession agreement," he said.
The official said that by resorting to false and fabricated cost of project, ANL received excess payment to the tune of Rs 134.38 crore during the concerned period.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
