Bengaluru, September 3 (Daily Kiran) : The Enforcement Directorate (ED) has taken significant action against illegal iron ore mining and money laundering in Bengaluru. On September 2, the agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA), 2002, freezing assets valued at ₹2.10 crore, which include residential plots associated with the firm Akshata Minerals.
The investigation began in October 2013, following a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI). This FIR was prompted by Supreme Court directives concerning illegal mining and export activities linked to the Belikeri Port, which has emerged as a focal point in Karnataka’s mining scandal.
The ED’s probe revealed that a partnership firm named SVK Minerals was involved in the illegal trade of iron ore. Between January 1, 2009, and May 31, 2010, the firm unlawfully supplied iron ore to various entities. The investigation indicated that 48,471 metric tons of iron ore were supplied to HLL Lifecare Limited through Bharat Ores and Minerals without any valid DMG/bulk/transit permits.
Additionally, SVK Minerals is accused of supplying a total of 56,081.43 metric tons of illegally mined iron ore to Arshad Exports, which subsequently exported it to China.
The ED also discovered that a portion of the profits from these illegal activities was used by SVK Minerals’ partners to purchase real estate. Consequently, the agency provisionally attached four properties registered under the names of Shyamraj Singh and B.S. Nandakumar Singh, considering these assets to be derived from criminal activities.
The ED has confirmed that the investigation is ongoing and efforts are underway to identify additional properties acquired through illegal mining profits.
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