ED Raids 20 Locations Over Illegal Iron Ore Exports, Freezes Rs 12.8 Crore Proceeds

The Enforcement Directorate (ED) has launched a major crackdown on illegal iron ore exports, conducting coordinated raids at 20 locations across Bengaluru, Hospet, and Gurugram. The operations, carried out on Thursday, targeted a well-organized network involved in the illicit export of 50,000 tonnes of iron ore from Belekeri Port in Uttara Kannada district.

During the raids, the ED seized Rs 42 lakh in cash and froze assets worth Rs 12.8 crore, linked to the proceeds of illegal activities. In addition, the agency recovered critical documents concerning immovable properties acquired using the illegally generated funds.

The investigation was initiated following multiple FIRs and chargesheets filed by the Central Bureau of Investigation (CBI), under the guidance of the Supreme Court. According to ED, the inquiry uncovered a sophisticated network of exporters, traders, and transporters who colluded to evade royalties and statutory taxes.

In many cases, the iron ore was procured from fictitious or dummy entities and exported through intermediaries, making it difficult to trace. The illicit profits were allegedly used for the benefit of the exporting companies and key management personnel, while presenting the operations as legitimate business activity.

The major beneficiaries of the illegal exports have been identified as MSPL Ltd (Narendra Kumar Baldota), Greentex Mining Industries Ltd (Ajay Kharwanda), Srinivasa Minerals Trading Co (Y Srinivas Rao), Arshad Exports (Md Asghar Khan), SVM Nett Project Solutions Pvt Ltd (Basavaraj B), and Alphine Minmetals India Pvt Ltd (Gagan Shukla).

The ED has emphasized that the ongoing investigation is part of its broader effort to clamp down on illicit mining and ensure compliance with statutory regulations. The agency is also reviewing the financial and property records of all involved entities to recover any additional assets obtained through illegal means.

This operation highlights the government’s resolve to curb illegal mining, protect natural resources, and strengthen regulatory oversight in India’s mining and export sector.