Valmiki Corporation Scam
A special court in Bangalore on Monday has remanded former Minister B Nagendra to 14 days of judicial custody in a money laundering investigation related to alleged irregularities in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited.
The Ballari Rural Congress MLA appeared before the court as his Enforcement Directorate (ED) custody ended. The ED, which did not request additional custody, had arrested Nagendra on July 12 after questioning him.
Nagendra, who was the Scheduled Tribes Welfare Minister, resigned on June 6 amid allegations connected to the scam. Prior to his arrest, the ED conducted searches at multiple locations, including Nagendra’s premises and those of Basanagouda Daddal, a ruling Congress MLA and Chairman of the state-run Corporation. The searches spanned approximately 20 locations across Karnataka, Andhra Pradesh, Telangana, and Maharashtra under the Prevention of Money Laundering Act (PMLA).
The ED has alleged that a significant portion of funds misappropriated from the Corporation was used to buy liquor during the recent Lok Sabha elections and acquire expensive vehicles. According to the agency, about ₹90 crore was redirected to 18 fake accounts in Andhra Pradesh and Telangana. These funds were then laundered through fake and shell accounts, with cash and bullion distributed among the accused.
In addition to the ED investigation, the state government has formed a Special Investigation Team (SIT) led by Manish Kharbikar, Additional Director General of Police for Economic Offences at the Criminal Investigation Department (CID), to further probe the case. The SIT has already questioned both Nagendra and Daddal.
Moreover, the Union Bank of India, headquartered in Mumbai, has lodged a complaint with the CBI regarding the embezzlement of funds from the Corporation linked to its MG Road branch, prompting the premier investigation agency to initiate its own probe.
The Supreme Court has upheld a decision by the Madras High Court granting a divorce…
The Delhi High Court has granted transit anticipatory bail to a lawyer whose brother is…
Former Supreme Court Justice Madan B Lokur has been recently named the chairperson of the…
The Karnataka High Court has recently directed the National Law School of India University (NLSIU)…
The Allahabad High Court has directed the Uttar Pradesh Vigilance Department to investigate the Himalayan…
The Allahabad High Court on Friday issued an order staying the arrest of Mohammed Zubair,…