New Delhi: The Enforcement Directorate on Saturday said it has attached assets worth Rs 21 crore of Karnataka Congress MLA Satish Krishna Sail as part of a money laundering investigation against him linked to a case of alleged illegal export of iron ore.
A provisional order was issued under the Prevention of Money Laundering Act (PMLA) on November 6 and the attached properties belong to Sail, who holds these assets through his Goa-based company named Shree Mallikarjun shipping Pvt Ltd. (SMSPL), the ED said in a statement.
The 59-year-old legislator from the Karwar assembly seat in Uttara Kannada was arrested by the federal probe agency in September.
He later obtained an interim bail on medical grounds which, the ED said, has been cancelled by a special PMLA court on Friday.
The attached properties include 12,500 square metres of open land in Chicalim Village, Mormugao in Goa, 16,850 square metres of agricultural property known as "Pedro Galle Cotta" located in Mormugao Taluk (south Goa) and multiple floors of a commercial building situated at Vasco Da Gama in Goa bearing a current market value of about Rs 64 crore, it said.
The book value of these properties is Rs 21 crore, according to the ED.
The case against Sail pertains to the "illegal" export of iron ore by a company allegedly linked to the legislator. The ED investigation originated from a 2010 case by the Karnataka Lokayukta, which discovered about eight lakh tons of illegally transported iron ore from Bellary to Belekeri port.
It had conducted searches in this case on August 13-14 in Karwar, Goa, Mumbai and Delhi.
The agency accused Sail, MD of SMSPL, of purchasing seized iron ore fines at Belekeri Port, weighing about 1.54 lakh metric tons, from various suppliers iron ore suppliers.
"Subsequently, Satish Krishna Sail, in collusion with port conservator, exported the illegally procured seized iron ore to China through vessels like MV Columbia and MV Mandarin Harvest, through layering by opening one more company in Hong Kong," the ED alleged.
A provisional order was issued under the Prevention of Money Laundering Act (PMLA) on November 6 and the attached properties belong to Sail, who holds these assets through his Goa-based company named Shree Mallikarjun shipping Pvt Ltd. (SMSPL), the ED said in a statement.
The 59-year-old legislator from the Karwar assembly seat in Uttara Kannada was arrested by the federal probe agency in September.
He later obtained an interim bail on medical grounds which, the ED said, has been cancelled by a special PMLA court on Friday.
The attached properties include 12,500 square metres of open land in Chicalim Village, Mormugao in Goa, 16,850 square metres of agricultural property known as "Pedro Galle Cotta" located in Mormugao Taluk (south Goa) and multiple floors of a commercial building situated at Vasco Da Gama in Goa bearing a current market value of about Rs 64 crore, it said.
The book value of these properties is Rs 21 crore, according to the ED.
The case against Sail pertains to the "illegal" export of iron ore by a company allegedly linked to the legislator. The ED investigation originated from a 2010 case by the Karnataka Lokayukta, which discovered about eight lakh tons of illegally transported iron ore from Bellary to Belekeri port.
It had conducted searches in this case on August 13-14 in Karwar, Goa, Mumbai and Delhi.
The agency accused Sail, MD of SMSPL, of purchasing seized iron ore fines at Belekeri Port, weighing about 1.54 lakh metric tons, from various suppliers iron ore suppliers.
"Subsequently, Satish Krishna Sail, in collusion with port conservator, exported the illegally procured seized iron ore to China through vessels like MV Columbia and MV Mandarin Harvest, through layering by opening one more company in Hong Kong," the ED alleged.
You may also like
Rebel Trinamool legislator Humayun Kabir to launch new party on Dec 22
ED attaches PFI, SDPI-linked properties worth Rs 67 crore under PMLA
MP: Stray dogs bite 40 persons in two days in Damoh district
600 Participate In Jindal Steel-Organised Air Adventure Show In Odisha's Angul
Andrew and Fergie spend their last days at Royal Lodge as lavish deliveries pictured
