New Delhi: Karnataka Deputy Chief Minister D Okay Shivakumar has termed the Enforcement Directorate raids within the Valmiki Growth Company case as unwarranted.
The ED on Wednesday carried out searches at a number of locations allegedly linked to former Karnataka Minister B Nagendra and MLA Basanagouda Daddal in reference to the unlawful cash switch case in state owned company.
The raids had been carried out in Bengaluru, Raichur and Ballari as a part of the probe into the alleged unauthorised switch of Rs 187 crore belonging to the Karnataka Maharshi Valmiki Scheduled Tribes Growth Company from its financial institution accounts.
This contains Rs 88.62 crore illegally credited to numerous accounts of some IT corporations and a Hyderabad-based cooperative financial institution, in line with official sources.
Talking to reporters on the Nonavinakere Kadasiddeshwara mutt within the district, he mentioned, “When the SIT arrange by the State authorities is already investigating the case, there was no want for the ED to raid within the case.”
Requested about ED raids on a number of locations, together with the residence of former minister Nagendra, the DCM mentioned, “It includes big quantities of cash and therefore banks have the authority to analyze the case. ED has are available in regardless that there was no want for it to analyze.”
Shivakumar mentioned Nagendra was not at fault as he exuded confidence that he would come out clear after the investigation.
Although he endorsed motion towards these concerned within the fraud, he underlined that related instances had occurred throughout the earlier BJP authorities.
