Daijiworld Media Network – New Delhi
New Delhi, Nov 8: The Enforcement Directorate (ED) on Saturday announced the attachment of assets worth Rs 21 crore belonging to Karnataka Congress MLA Satish Krishna Sail, as part of a money laundering probe linked to the alleged illegal export of iron ore.
A provisional order under the Prevention of Money Laundering Act (PMLA) was issued on November 6, covering assets held by Sail through his Goa-based company, Shree Mallikarjun Shipping Pvt Ltd (SMSPL), the ED said in a statement.
The 59-year-old legislator, representing the Karwar Assembly constituency in Uttara Kannada, was arrested by the federal agency in September. He had later secured interim bail on medical grounds, which was reportedly cancelled by a special PMLA court on Friday, the ED added.
The attached properties include 12,500 square metres of open land in Chicalim Village, Mormugao, Goa, 16,850 square metres of agricultural property known as “Pedro Galle Cotta” in Mormugao Taluk, South Goa, and multiple floors of a commercial building in Vasco Da Gama, Goa, with a current market value of about Rs 64 crore.
According to the ED, the book value of these properties stands at Rs 21 crore.
The case pertains to the alleged illegal export of iron ore by a company linked to Sail. The ED said the probe originated from a 2010 Karnataka Lokayukta case, which found around eight lakh tonnes of illegally transported iron ore from Bellary to Belekeri port. The agency conducted searches on August 13–14 in Karwar, Goa, Mumbai, and Delhi. Sail, as MD of SMSPL, was accused of purchasing seized iron ore fines, weighing approximately 1.54 lakh metric tonnes, from various suppliers.
"Subsequently, Satish Krishna Sail, in collusion with the port conservator, exported the illegally procured seized iron ore to China through vessels like MV Columbia and MV Mandarin Harvest, via layering by opening another company in Hong Kong," the ED alleged.