The Enforcement Directorate (ED) attaches assets in Goa in connection with an alleged illegal iron ore mining case involving the AVS Group. According to the ED, its investigation finds that AVS Group operated multiple mining leases between 2007 and 2012 and that illegal extraction, sale and export of iron ore generated proceeds of crime. The Hindu reports that the ED identifies proceeds of crime amounting to ₹2,492.95 crore based on the alleged illegal mining activities during that period. Other outlets report the asset attachment value in Goa as more than ₹1,000 crore, with figures around ₹1,023 crore cited by India Today and about ₹1,000 crore reported by The Economic Times and Times of India. The ED’s action involves provisional attachment of assets under relevant provisions, as part of its investigation into the case. The reports describe the ED’s claim of illegality and the scale of both the proceeds and the attached assets, but do not provide details on court outcomes or the final adjudication of the allegations.
ED attaches over ₹1,000 crore assets in Goa iron ore illegal mining case
The Enforcement Directorate (ED) attaches assets in Goa in connection with an alleged illegal iron ore mining case involving the AVS Group. According to the ED, its investigation finds that AVS Group...
- The Enforcement Directorate attaches assets in Goa tied to alleged illegal iron ore mining.
- The case involves allegations against AVS Group and mining leases reportedly operated between 2007 and 2012.
- The Hindu states the ED estimates proceeds of crime at ₹2,492.95 crore from alleged illegal extraction, sale and export of iron ore.
- Multiple outlets report the value of attached assets at over ₹1,000 crore (including figures around ₹1,023 crore).
- The reports describe ED’s attachment as part of its investigation; they do not mention a final court decision in these accounts.
The agency alleged that its probe found AVS Group operated ten mining leases during 2007-12 and generated proceeds of crime of ₹2,492.95 crore from the illegal extraction, sale and export of iron ore
23 hours agoED attaches Rs crore assets in Goa illegal mining case
1 day ago
KOSPI rises to fresh records on AI momentum and easing U.S.-Iran tensions
South Korea’s KOSPI moves higher in successive sessions, repeatedly driven by expectations of an easing U.S.-Iran confli...
David Jones appoints Erica Berchtold as first female CEO
David Jones, the 188-year-old Australian department store, appoints Erica Berchtold as its first woman chief executive o...
Australian shares hold steady as Iran peace talks and sector moves guide trade
Australian shares trade largely flat, with market sentiment shaped by developments around Iran peace talks and shifting...