New Delhi, 15 August

The Enforcement Directorate (ED) has seized Rs 1.41 crore in cash from the residence of State Congress MLA Satish Krishna Sail, alongside 6.75kg of gold jewellery and bullion from his family's bank lockers, as part of a money laundering investigation tied to the alleged illegal export of iron ore linked to the legislator.

Sail, representing the Karwar constituency in Uttara Kannada district, was unavailable for immediate comment. The ED conducted searches between 13-14 August  across Karwar, Goa, Mumbai, and Delhi.

The investigation also targeted companies including Ashapura Minechem and Shree Lal Mahal under the Prevention of Money Laundering Act (PMLA). Both Sail and these entities were convicted by a special court in Bengaluru for the "illegal" export of iron ore fines via Shree Mallikarjun Shipping Pvt. Ltd., reportedly associated with Sail.

The ED claims that between April and June 2010, nearly 1.25 lakh metric tonnes of iron ore was exported illegally, amounting to Rs 86.78 crore. A total of Rs 14.13 crore in bank deposits linked to the accused has been frozen, and "incriminating" evidence has been recovered.