Mining Baron Anil Salgaocar's Assets Attached Over Forex Violation
NDTV
Enforcement Directorate has seized shares held by Anil Salgaocar's family in connection with the foreign assets held by the industrialist before his death in 2016.
The Enforcement Directorate, or ED, has issued a seizure order against the estate of former Goa MLA and mining magnet Anil Salgaocar and seized the shares held by this estate in connection with the foreign assets held by Mr Salgaocar before his death in 2016.
The ED initiated investigations against Mr Salgaocar based on the Panama Paper and the Pandora Paper leaks that claimed that the industrialist had incorporated multiple British Virgin Islands (BVI) firms.
Mr Salgaocar's iron ore mines in Goa and Karnataka and the ores from them were sold or exported through the MLA's Indian companies to SPVs (Special Purpose Vehicles) in the British Virgin Islands and Singapore, the ED said.
