New Delhi – The Enforcement Directorate (ED) on Friday said it has seized ₹1.41 crore in cash from the residence of Karnataka Congress MLA Satish Krishna Sail, along with 6.75 kg of gold jewellery and bullion recovered from bank lockers belonging to his family. The action comes as part of an ongoing money laundering investigation into alleged illegal iron ore exports.
According to the agency, the case involves iron ore shipments carried out through a company reportedly linked to the 59-year-old legislator. Sail, who represents Karwar in Uttara Kannada district, was unavailable for comment.
The ED conducted searches on August 13 and 14 across multiple locations including Karwar, Goa, Mumbai, and Delhi. Other firms brought under the scanner during the operation include Ashapura Minechem, Shree Lal Mahal, Swastik Steels (Hosepet), ILC Industries, and Sri Lakshmi Venkateshwara Minerals.
The central agency said all these entities, along with Sail, were earlier convicted by the special court for MPs and MLAs in Bengaluru for their role in the “illegal” export of iron ore fines executed by Shree Mallikarjun Shipping Pvt Ltd. The company is reported to be associated with Sail.
The ED clarified that its present probe against Sail and others stems directly from this conviction order.
