HC dismisses bail plea of CEPL promoter in money laundering case

CHENNAI: The Madras High Court had dismissed a bail petition as withdrawn filed by Ahmed AR Buhari, promoter of Coastal Energy Private Limited who was booked by the Central Bureau of Investigation (CBI) and arrested by the Enforcement Directorate (ED) on money laundering offence.

Justice D Bharatha Chakravarthy dismissed the petition since the petitioner's counsel prayed to grant liberty to withdraw the petition.

Earlier, the petitioner submitted that he did not involve in any scam in connection with the allegation of accumulating Rs.564.48 crore by selling poor quality /lower calorific value coal to the PSUs through his company against the tender conditions of supplying coals of higher calorific value.

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