Bhubaneswar: The Enforcement Directorate (ED) seized 2 kg gold bullion worth Rs 1.24 crore, Rs 30 lakh in cash and an SUV during searches at 12 locations, including Bhubaneswar and Rourkela, in connection with illegal iron ore mining in Joda of Odisha’s Keonjhar district.
According to sources, the raids were conducted under provisions of Prevention of Money Laundering Act (PMLA) in Bhubaneswar, Barbil, Rourkela, and Kolkata on the premises of Deepak Steel & Power Ltd, Snehapusph Marketing (P) Ltd, other associated companies/entities, their directors and chartered accountant.
While digital devices and incriminating documents were seized during the searches, an order has also been issued to freeze Rs 1.23 crore in six bank accounts of the accused and their companies, the ED posted on X.
ED, Bhubaneswar conducted search operations under provisions of PMLA, 2002, at 12 locations in Bhubaneswar, Barbil, Rourkela & Kolkata at the premises of M/s Deepak Steel & Power Ltd, M/s Snehapusph Marketing (P) Ltd, its directors and others in the matter relating to illegal…
— ED (@dir_ed) March 9, 2024
Sources further said that the ED is conducting the investigation on the basis of an FIR registered by the Vigilance department and its chargesheet against Deepak Steel, Snehapusph Marketing, Deepak Gupta, Haricharan Gupta and others. The proceeds of crime from illegal mining were layered through multiple shell companies with dummy directors based in Kolkata and Barbil, the investigation revealed.
The central agency had earlier issued an order to attach movable and immovable properties worth Rs 379 crore and filed a chargesheet at a special court (PMLA).
