The Enforcement Directorate has attached assets worth over ₹1,023 crore in an alleged illegal iron ore mining case in Goa. The provisional order was issued under the Prevention of Money Laundering Act (PMLA) on June 19.
The attached assets include 99 properties in India, 31 properties in Singapore, and equity shares in Indian companies held by the Estate of Late Anil Salgaocar and associates.
The ED alleged that the Salgaocar Groups and associates operated ten mining leases between 2007 and 2012, generating proceeds of crime of ₹2,492.95 crore from the illegal extraction, sale, and export of iron ore.
The agency claimed that the "illegally" mined ore was exported at "grossly undervalued" prices to shell entities in the British Virgin Islands, which resold the ore to China, generating further offshore trade profits of ₹2,744.89 crore.
The total proceeds of crime are calculated at ₹5,237.84 crore, as per the agency.
