Overview
- The Enforcement Directorate’s Panaji office issued a provisional PMLA attachment order dated June 19 that freezes assets worth ₹1,023.85 crore in India and Singapore.
- The attached portfolio includes 99 immovable properties in India valued at ₹459.10 crore, 31 immovable properties in Singapore valued at ₹471.32 crore, and equity holdings worth ₹93.42 crore.
- The money‑laundering probe follows a Goa Police CID FIR and the ED alleges the AVS/Salgaocar group ran ten leases from 2007–2012 that produced alleged illicit proceeds.
- The agency says ore was exported at undervalued prices to BVI and Singapore SPVs that resold to China, generating alleged domestic proceeds of ₹2,492.95 crore and offshore profits of ₹2,744.89 crore for a total claimed ₹5,237.84 crore.
- The seized assets are held in the estate of the late Anil V. Salgaocar and group-linked firms and the PMLA attachment is an interim step subject to adjudication and legal challenge.