The Enforcement Directorate (ED) has provisionally attached assets worth ₹1,023.85 crore in connection with an alleged illegal iron ore mining case in Goa. The attached assets include 99 properties in India, 31 properties in Singapore and equity shares in Indian companies.
According to the ED, the action was taken under the Prevention of Money Laundering Act (PMLA) following an investigation linked to a Goa Police CID case. The agency alleged that a private mining firm and its associates illegally extracted, sold and exported iron ore between 2007 and 2012, generating proceeds of crime exceeding ₹2,492 crore.
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The ED further claimed that the ore was exported through offshore entities at undervalued prices, resulting in additional profits abroad. The total alleged proceeds of crime have been estimated at over ₹5,237 crore. The agency said the funds were routed through overseas entities and used to acquire assets in India and abroad. Further investigation is underway.
