ED Attaches Assets in Karnataka Mining Case Totaling Rs. 5.21 Cr

ED Attaches Assets in Karnataka Mining Case Totaling Rs. 5.21 Cr

According to authorities, the Mineral Enterprises Ltd. and its officers' assets worth Rs. 5.21 crore have been attached by the Bengaluru Zonal Office of the Enforcement Directorate (ED) in a case involving unlawful mining.

The authorities claim that the accused owns six transportable properties, which make up the assets attached.

On the basis of a FIR filed by the Special Investigation Team and the Karnataka Lokayukta in Bengaluru, the ED launched an inquiry under the Prevention of Money Laundering Act.

According to Supreme Court-issued directives, investigations under different provisions of the Mines and Minerals Development Regulation Act and the Prevention of Corruption Act would be conducted against Mineral Enterprises Ltd., unidentified government workers, and other unidentified people.

"The case involves the sale of iron ore that was unlawfully mined by several dealers. Iron ore was unlawfully mined, transported, and marketed without appropriate licenses, which cost the exchequer money, according to an inquiry under the PMLA. In addition, it has been noted that the mines held by Mrs. Shanthlakshmi and J Mithyleswar, BMM Ispat Ltd., and Dinesh Kumar Singhi, as well as two mines owned by S.B. Minerals with partners BP Anand Kumar, Panduranga Singh, and Gopal Singh, one mine owned by Mrs "the authorities added.

After reviewing mining leases in the state of Karnataka, the Centrally Empowered Committee, which was established by the Supreme Court, discovered serious violations at these four mines, maintained them in the C Category, and on the basis of its recommendation, the top court revoked their licenses.

The accused have caused an unlawful loss to the government's coffers and a commensurate unjust gain for themselves, according to an investigation under the PMLA "the authorities declared.

More research is now being conducted.