Bengaluru, Dec 20 (IANS): The Enforcement Directorate (ED) on Tuesday attached bank deposits worth Rs 5.34 crore of ILC Industries Ltd Director K. Somasekhar in an illegal mining case under the Prevention of Money Laundering Act, 2002.

"Investigation under the PMLA revealed that Somasekhar was in possession of moveable properties valued at Rs 5.34 crore, acquired through criminal conspiracy and illegal mining in collusion with other co-accused," said an ED official in a statement here.

The Central Bureau of Investigation, which conducted an inquiry into the allegations of illegal mining, filed five chargesheets against Somasekhar under the Indian Penal Code, the Prevention of Corruption Act and the Mines and Minerals (Development & Regulation) Amendment Act.

"The accused has projected the ill-gotten money/proceeds of crime as untainted by acquiring and placing huge amounts of funds in banks as fixed deposits," said the official.

The mining firm is registered at Hospete in Karnataka's Ballari district, about 330km from here.