New Delhi, April 27 The Enforcement Directorate (ED) on Thursday said that it conducted searches at multiple locations in Chennai belonging to officials of the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and South India Corporation (SIC), a group company of the Chettinad Group.
The searches were carried out at 10 premises in Chennai.
These locations included the premises of the former director of Coal (TANGEDCO), government officials, as well as key management personnel of SIC and Western Agencies (Madras) Private Limited.
The investigation was initiated based on a FIR registered by the Directorate of Vigilance and Anti-Corruption, Chennai against fraudulently cheating the TANGEDCO, a PSU of the Tamil Nadu government, by claiming excessive payments for coal transportation from the Visakhapatnam port, which amounted to hundreds of crores.
This loss to TANGEDCO occurred between 2001 and 2019, in connivance with TANGEDCO officials. The initial tender awarded for six months was extended for 19 years based on an injunction petition filed by one of the related parties.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor