ED raids in Valmiki Development Corporation case unwarranted: D K Shivakumar

PTI, Jul 11, 2024, 9:02 AM IST

TUMAKURU: Karnataka Deputy Chief Minister D K Shivakumar has termed the Enforcement Directorate raids in the Valmiki Development Corporation case as unwarranted.

The ED on Wednesday conducted searches at multiple places allegedly linked to former Karnataka Minister B Nagendra and MLA Basanagouda Daddal in connection with the illegal money transfer case in state owned corporation.

The raids were carried out in Bengaluru, Raichur and Ballari as part of the probe into the alleged unauthorised transfer of Rs 187 crore belonging to the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation from its bank accounts.

This includes Rs 88.62 crore illegally credited to various accounts of some IT companies and a Hyderabad-based cooperative bank, according to official sources.

Speaking to reporters at the Nonavinakere Kadasiddeshwara mutt in the district, he said, “When the SIT set up by the State government is already investigating the case, there was no need for ED to raid in the case.”

Asked about ED raids on several places including the residence of former minister Nagendra, the DCM said, “It involves huge amounts of money and hence banks have the authority to investigate the case. ED has come in even though there was no need for it to investigate.”

Shivakumar said Nagendra is not at fault as he exuded confidence that he will come out clean after the investigation.

Though he endorsed action against those involved in the fraud, he underlined that similar cases had happened during the previous BJP government.