NEW DELHI, 15 NOV

The Enforcement Directorate (ED) has filed a chargesheet against Congress MLA Satish Krishna Sail and his company, Shree Mallikarjun Shipping Pvt. Ltd., in a money laundering investigation involving the alleged illegal export of iron ore worth Rs 44 crore. The prosecution complaint was submitted to a designated Prevention of Money Laundering Act (PMLA) court in the City.

Sail, aged 59 and representing the Karwar assembly constituency in Uttara Kannada, was arrested by the ED in September. The investigation stems from a 2010 case led by the Karnataka Lokayukta, which revealed the illegal transportation of approximately 800,000 tonnes of iron ore from Bellary to Belekeri port.

The ED claims that the iron ore was exported to buyers in China with the assistance of Mahesh J Biliye, port conservator at Belekeri. "The criminal act of the accused persons caused a loss of Rs 44.09 crore to the government exchequer," the agency stated. Sail allegedly made payments of Rs 46.18 crore regarding the illegal purchase and concealed proceeds through foreign accounts, leading to the attachment of assets worth Rs 21 crore earlier this month.