Chennai, May 19 -- The Additional Special Court for CBI cases, which is also the Special Court for cases under the Prevention of Money Laundering Act (PMLA), has dropped all money laundering chargesagainst four private firms including Chennai-based Coastal Energy Private Limited (CEPL), promoted by Ahmed AR Buhari, and two of its sister concerns in Dubai.
The case related to Rs 487 crore money laundering charges for alleged overvaluation of inferior quality of coal imported from Indonesia, and supplied to PSUs like NTPC and other power generation companies in collusion with officials.
Passing the orders, 13th Additional Special Court Judge for CBI Cases J Omprakash dropped the money laundering cases against CEPL, Coastal Energen Private L...