The Enforcement Directorate (ED) has attached assets worth approximately 1,023 crore rupees under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the Goa illegal iron ore mining case involving the Salgaocar Group.
According to the ED, the attached properties are registered in the names of the Estate of Late Anil Vasudev Salgaocar, as well as several associated companies, including Salgaocar Mining Industries Pvt. Ltd., Shantilal Khushaldas & Brothers Pvt. Ltd., S. Kantilal & Company Pvt. Ltd., Salitho Ores Pvt. Ltd., Vertex Newton Projects Pvt. Ltd., and Subarnarekha Port Pvt. Ltd. The ED initiated its investigation based on an FIR registered by the Goa CID Crime Branch. The agency noted that the Supreme Court of India, in its judgments delivered in 2014 and 2018, had held that all mining operations carried out in Goa after November 22, 2007, were illegal.
The ED has alleged that the total proceeds of crime generated in the case amount to approximately ₹5,237.84 crore. According to the investigation, the group of companies illegally extracted iron ore from 10 mining leases between 2007 and 2012, generating revenues of around ₹2,492.95 crore. The ED further alleged that the companies earned an additional ₹2,744 crore by selling iron ore to overseas shell companies at undervalued prices, thereby securing unlawful gains. The investigation into the matter is ongoing.
