Coastal Energen promoter Ahmed AR Buhari continues to be in jail after being arrested by the Enforcement Directorate (ED) in March 2022 over allegations of supplying coal of inferior quality at inflated prices. The ED initiated the money laundering investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI), against Buhari, the promoter of Coastal Energy Pvt. Ltd, Chennai.

The probe revealed that Buhari was controlling the Coastal Energy Private Limited, Coastal Energen Private Limited, Coal and Oil Group Dubai and other offshore entities located in Mauritius and British Virgin Islands.

It was revealed that lower-quality coal was supplied to PSUs, contrary to the tender specifications, and the coal was over-invoiced. The fraudulent activity was backed by falsified Certificates of Sampling and Analysis (COSA), which hid the genuine lower quality of the coal.

The investigation further revealed that Buhari generated Rs 564.48 crore through the overvaluation of coal, per reports.

Shiv Sena (UBT) leader Priyanka Chaturvedi, who criticised the selective protection of certain industrialists by the government without directly naming anyone, pointed out that when “Modi ji’s blue eyed Industrialist friend’s company does (the same) he is protected by the whole bhajapa and sarkari system”.

In a long post on X, the Rajya Sabha MP shared the timeline of the events, illustrating the alleged bias:

“The not so curious case of Modi government’s love for Blue Eyed Industrialist of BJP:

(The timeline is similar to Mumbai airport being handed over to the one and only.)

2018: CBI registers case on Ahmed Buhari’s Coastal Energen Pvt Ltd over allegations of supply of coal of inferior quality to PSUs at inflated prices.

On cue, ED initiates money laundering case.

And again on cue, as has become the pattern, Adani group moves to buy Coastal Energen Pvt Ltd but Ahmed Buhari resisted.

Now since he has resisted the next set of sarkari machinery is put to use to help blue eyed group. So,

February 2022: NCLT initiates proceedings in Coastal Energen Pvt Ltd.

March 2022: ED arrests Ahmed AR Buhari.

May 2022: ED files chargesheet against Buhari.

2023: Adani moves NCLT to take over Coastal Energen Pvt Ltd.

2024: CCI approves the proposal and Adani Power takes over Coastal Energen Pvt Ltd for just 3,000 crore.

What happens to Ahmed Buhari, you wonder?

This:

Buhari’s six bail pleas have been dismissed so far, while CBI is yet to file chargesheet (case began in 2018).

ED case cannot begin trial till CBI doesn’t file a chargesheet.

He continues to be in jail for since 2022.

This is Modiji’s dosti ki hai, nibhani aur badhani toh padegi model.