In a partial relief, the Odisha High Court on Monday allowed two mining companies, Indrani Patnaik & Co and Thriveni Earthmovers & Transport Company, to operate their bank accounts which were made inoperational by the Enforcement Directorate (ED) in May this year.
A Division Bench of court headed by Chief Justice DH Waghela, however, in the interim order asked the two companies not to liquidate their fixed deposit accounts till the petitions in the court are disposed of. According to sources, both the mining companies have fixed deposits to the tune of Rs 250 crore, which shall be treated as bank guarantees pending disposal of the cases.
Following raids and seizure of bank accounts by the ED in connection with the ongoing probe into the mining scam in the State, the two companies had moved the High Court challenging the ED’s action. Terming the ED action as “uncalled for since the State Vigilance Directorate has already begun investigating into the matter,” the companies have urged the court for appropriate directions to the ED.