Chennai: The Madras High Court on Friday dismissed as withdrawn, a plea from Ahmed A R Buhari, promoter of Coastal Energy Private Limited, arrested on March 3 by the Enforcement Directorate (ED) under the Prevention of Money Laundry Act 2002 involving Rs 564.48 crore.
The charge against him was he had quoted over valuation of coal prices whereby the public sector undertakings paid higher price for the purchase of coal. He had also supplied coal of inferior quality, the chargesheet added.
When the bail application came up for hearing before vacation judge D Bharatha Chakravarthy today, Buhari's counsel sought permission to withdraw the application. The judge granted the plea and dismissed the application as withdrawn. (PTI)
