The Directorate of Enforcement (ED) has arrested Karwar MLA Satish Krishna Sail in connection with an illegal iron ore export case linked to a multi-crore money laundering investigation. He was taken into custody late last night by the ED's Bengaluru Zonal Office and will be produced before the court today.
The arrest follows a series of search operations conducted on August 13 and 14, 2025, at multiple locations across Karwar (Uttara Kannada), Goa, Mumbai, and New Delhi under the Prevention of Money Laundering Act (PMLA), 2002.
The ED probe stems from a conviction order of the Special Court for MPs and MLAs, Bengaluru, in a case involving illegal export of 1.25 lakh metric tonnes of iron ore fines between April and June 2010. Investigators found that Satish Sail, in collusion with business entities and port officials, facilitated exports worth Rs 86.78 crore, despite the ore being under seizure orders of the Forest Department, Ankola.
During the searches, the ED seized Rs 1.41 crore in cash from Sail's residence, Rs 27 lakh in cash from the office of Sri Lal Mahal Ltd, and 6.75 kg of gold jewellery/bullion from Sail family's bank locker. In addition, bank accounts belonging to the accused entities, including Shree Mallikarjun Shipping Pvt Ltd, Satish Sail, and others, holding about Rs 14.13 crore, were frozen. Investigators also recovered incriminating documents, emails, and records.
The investigation covers several firms, including Ashapura Minechem Ltd, Shree Lal Mahal Ltd, Swastik Steels Pvt Ltd, ILC Industries Ltd, and Sri Lakshmi Venkateshwara Minerals Ltd, allegedly linked to the illegal exports.
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