Overview

• The Enforcement Directorate conducted coordinated raids on August 13–14 at sites in Karwar, Goa, Mumbai and New Delhi under the Prevention of Money Laundering Act.
• Search teams recovered Rs 1.41 crore from Satish Krishna Sail’s residence and Rs 27 lakh from Shree Lal Mahal Ltd’s office, along with 6.75 kg of gold from family bank lockers.
• Bank accounts belonging to Sail and associated entities were frozen with deposits totaling approximately Rs 14.13 crore.
• Seized documents, emails and electronic records are being forensically examined to map the alleged laundering network behind the 2010 iron ore exports from Ballari to Belekeri port.
• Satish Sail remains free on bail after the Karnataka High Court stayed his seven-year sentence pending appeal against his 2024 conviction by a Special Court for MPs and MLAs.