ANI
19 Mar 2023, 19:48 GMT+10
New Delhi [India], March 19 (ANI): The Enforcement Directorate (ED)'s Bengaluru Zonal Office has attached assets worth Rs 5.21 crore belonging to Mineral Enterprises Ltd and its officials in a case related to illegal mining under the provisions of Prevention of Money-laundering Act, officials said on Sunday.
The assets attached are in the form of six immovable properties owned by the accused persons, the official said.
The ED initiated an investigation on the basis of an FIR registered by the Special Investigation Team, and Karnataka Lokayukta, Bengaluru against Mineral Enterprises Ltd., unknown government employees and other unknown persons under various sections of the Mines and Minerals Development Regulation Act, 1957 and Prevention of Corruption Act, 1988 on the basis of directions issued by Supreme Court of India.
"The case pertains to the trading of illegally mined iron ore by various traders. During investigation under PMLA, it has been noticed that iron ore has been illegally mined, transported and traded without valid permits which caused loss to the exchequer," the official said.
The federal agency officials further said that It has also been noticed that the source of such illegal iron ore is two mines owned by S.B Minerals having partners - BP Anand Kumar, Panduranga Singh and Gopal Singh, one mine owned by Shanthlakshmi and J Mithyleswar and one mine owned by Bharat Mines and Minerals having partners BMM Ispat Ltd and Dinesh Kumar Singhi.
Earlier, the Centrally Empowered Committee appointed by the Supreme Court during its survey of mining leases in the state of Karnataka found gross illegalities with respect to these four mines and kept them in C Category and on the basis of its recommendation, the top court had cancelled their licenses.
"Investigation under PMLA has established that the accused have caused wrongful loss to the Government exchequer and corresponding wrongful gain to themselves," said the officials.
Further investigation is under progress. (ANI)Get a daily dose of India Gazette news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.
More InformationTORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
NEW DELHI, India: India has decided not to allow a United Nations (UN) investigator to join the investigation into the recent Air India...
CAPE CANAVERAL, Florida: In a landmark flight for three nations and a veteran U.S. spacefarer, a four-member astronaut crew launched...
Bengaluru (Karnataka) [India], July 2 (ANI): A two-person bench of Central Administrative Tribunal (CAT) observed Royal Challengers...
Leh (Ladakh) [India], July 2 (ANI): GOC Trishul Division's Galwan Cycling Expedition team covered a distance of 312 km from Nyoma to...
Accra (Ghana) [India], July 2 (ANI): Prime Minister Narendra Modi's upcoming visit to Ghana will be the first by an Indian Prime Minister...
Washington DC [US], July 2 (ANI): External Affairs Minister S Jaishankar met US Secretary of Defence Pete Hegseth at the Pentagon,...