ED seizes Rs 1.68 crore, 6.75 kg gold in Belkeri iron ore case against Karnataka MLA
advertisementThe investigation under the Prevention of Money Laundering Act (PMLA) focusses on Karnataka MLA Satish Krishna Sail, along with other individuals and entities previously convicted for illegal iron ore exports.
The central agency said it is also examining various incriminating documents, emails, and records discovered during the searches to further its probe into the money laundering network.The case originates from a 2010 investigation by the Karnataka Lokayukta, which exposed the illegal transport of around eight lakh tonnes of iron ore from Ballari to Belekeri port. The illegally mined ore, seized by forest officials, was subsequently exported illicitly.A special court for MPs and MLAs in Bengaluru had previously convicted Sail and others in multiple cases, sentencing him to seven years in prison. However, the Karnataka High Court later suspended the sentence and granted him bail.The ED's current investigation alleges that the illegal exports caused a loss of approximately Rs 38 crore to the state exchequer, with the actual value of the illegally exported ore believed to be in the hundreds of crores.The agency is scrutinising financial transactions, property records, and the broader network of individuals involved in the illegal mining and export operations to uncover the full extent of the money-laundering activities.- Ends
IN THIS STORY#Karnataka
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
6 minutes ago
- Indian Express
Noida family's Uber ride turns a nightmare as driver speeds off to evade police; video goes viral
What was supposed to be a routine cab ride for a Noida family turned into a nightmare when the Uber driver allegedly tried to dodge a police check and sped away at a dangerous pace, refusing to let them get out. The shocking incident came to light after passenger Sanjay Mohan shared videos of the ordeal on social media, where the clips quickly went viral on August 14. However, the police arrested the driver and seized his vehicle on Friday. Mohan said the incident took place while he was travelling with his wife and daughter from Greater Noida West to Connaught Place. The video clip shows Mohan and his spouse imploring the driver to stop. The woman claims their daughter was scared and begs him to slow down so they may get out. When the cab finally stopped, the family was able to exit without any untoward incident. Sharing the frightening moment on X, Mohan wrote: 'A horrible experience with @Uber @Uber_Support , today me and my family was en-route to CP from Noida. Near to Parthala Bridge Noida a police intercepter vehicle asked the driver to stop the car but the driver didn't stop and trying to escape from police vehicle.' Later, Mohan claimed that the car had been involved in an accident before. A horrible experience with @Uber @Uber_Support, today me and my family was en-route to CP from noida. Near to Parthala Bridge Noida a police intercepter vehicle asked the driver to stop the car but the driver didn't stop and trying to escape from police vehicle.@noidapolice — Sanjay Mohan (@sanmohan4u) August 14, 2025 Taking quick action, Gautam Budh Nagar Police also slapped a fine of Rs 29,250. 'The cab driver has been arrested and after seizing the vehicle, a challan has also been issued. The cab driver is being sent to judicial custody,' said Shakti Mohan Awasthi, Deputy Commissioner of Police, Noida Central. थाना फेस-3 सेंट्रल नोएडा:- रैश ड्राइविंग करने वाला वांछित अभियुक्त गिरफ्तार, कब्जे से घटना में प्रयुक्त गाड़ी बरामद। — POLICE COMMISSIONERATE GAUTAM BUDDH NAGAR (@noidapolice) August 15, 2025 Meanwhile, Uber responded to Mohan's viral post, writing on X: 'Hello there, we'd be glad to take a look at this for you. Please share your registered phone number and email ID associated with your Uber account. We'll follow up with you soon.' Mohan replied by sharing his contact details with the company. Netizens reacted to the horrific incident, with one user stating that such incidents leave a long-lasting impression on children. Another user wrote, 'Where is that guy who asked to put our money in Mutual Funds instead of buying a car !!! Eat one meal less but buy car for your family!'
Hindustan Times
6 minutes ago
- Hindustan Times
LIC AAO, AE 2025 registration begins for 841 vacancies, link to apply
LIC Recruitment 2025: Life Insurance Corporation of India (LIC) has started the application process for Assistant Administrative Officer (AAO) and Assistant Engineer (AE) recruitment, 2025. Eligible candidates can apply for this recruitment drive using the link given on the LIC website, LIC AAO, AE 2025 registration begins for 841 vacancies (REUTERS Photo) The direct link is given below as well. This recruitment drive will fill up 841 posts in the organisation. Also read: IB Security Assistant/ Executive Recruitment 2025: Registration process for 4900+ posts ends on August 17, apply now LIC Recruitment 2025: Vacancy details 1. Assistant Engineers: 81 vacancies 2. Assistant Administrative Officer (AAO) Specialist: 410 vacancies 3. Assistant Administrative Officer (AAO-Generalist): 350 vacancies. LIC AAO, AE recruitment 2025: Direct link to apply The application deadline is September 8, 2025. Read below for eligibility, selection process and other details. TO check post-wise eligibility criteria, age limit and other details, candidates can read the official notifications using this link. The application fee for this LIC AAO and AE recruitment drive is ₹85 plus transaction charges and GST for SC/ST/ PwBD candidates. For all other candidates, the application fee is Rs. 700 plus transaction charges and GST. Also read: Central Railway Apprentice Recruitment 2025: Apply for 2418 posts at direct link here LIC AAO, AE 2025: Selection process The selection process for LIC Assistant Administrative Officers comprises a three-tiered process – a preliminary exam, followed by a mains Exam, interview and subsequent pre-recruitment medical examination. The marks obtained in the Preliminary Examination (Phase-I) will not be considered for preparing the final merit list. The final merit list will be prepared on the basis of the marks obtained in the main examination and interview. For further details, candidates can check the official website of LIC India.
News18
14 minutes ago
- News18
SBI Hikes Home Loan Rates By 25 Bps: EMIs To Get Costlier For New Borrowers, Check New Rates
Last Updated: SBI Home Loan Rate Hike: SBI has revised home loan interest rates effective August 1, 2025. This impacts borrowers with higher EMIs. SBI Home Loan Interest Rate Hike: The State Bank of India (SBI) has revised its home and home-related loan interest rates effective from August 1, 2025. As per the report of Economic Times, regular home loans (term loans) will now be available in the range of 7.50% to 8.70%. The bank has raised the upper band of interest rates by 25 basis points. Earlier, SBI's home loan interest rates ranged between 7.50% and 8.45%, but now they stand between 7.50% and 8.70%. This means the lower limit remains unchanged, while the upper limit has been increased. New rates are effective from 1st August 2025. SBI's home loan rate hike came on the heels of RBI's decision to keep the repo rate unchanged at 5.55 per cent in the latest MPC meeting in August. The Max gain overdraft facility will attract interest rates ranging from 7.75% to 8.95%. Top-up loans have become relatively costlier, with rates between 8.00% and 10.75%, and overdraft top-up loans fixed at 8.25% to 9.45%. Loan against property (P-LAP) now comes at 9.20% to 10.75%, whereas reverse mortgage loans are fixed at 10.55%. SBI has also kept the YONO Insta Home Top-Up Loan at 8.35%. The bank has clarified that all home loan rates remain linked to the External Benchmark Lending Rate (EBLR), which currently stands at 8.15%. How SBI's Hike May Impact Borrowers SBI's decision to raise the upper limit of home loan interest rates from 8.45% to 8.70% will directly impact borrowers opting for loans at the higher end of the band. While the lower limit remains unchanged at 7.50%, those whose credit profile or loan category places them near the upper slab will now face slightly higher EMIs and overall repayment burden. Even though the hike is just 25 basis points, the effect over long tenures can be significant. For example, on a Rs 30 lakh loan with a 20-year tenure, the EMI at 8.45% was about Rs 25,830. At the new rate of 8.70%, the EMI rises to Rs 26,278 — a difference of around Rs 450 every month. Over the loan's lifetime, this translates into an additional outgo of more than Rs 1 lakh. Borrowers with larger loans, say Rs 50 lakh or above, will see the impact magnified further. This makes homeownership costlier, especially for new buyers stretching their budgets. A borrower takes a home loan of Rs 30 lakh for 20 years. About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More view comments First Published: News business » banking-finance SBI Hikes Home Loan Rates By 25 Bps: EMIs To Get Costlier For New Borrowers, Check New Rates Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
