Ex-K'taka minister Nagendra sent to judicial custody until August 3 in Valmiki corporation scam case
Former Karnataka Minister B. Nagendra has been sent to judicial custody for 14 days in connection with the Valmiki Development Corporation money transfer scam. The Special Court of People's Representatives in Bengaluru remanded him until August 3 after his arrest by the Enforcement Directorate. The case involves the illegal transfer of Rs 94.73 crore.
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FollowIn a significant development in the Valmiki Development Corporation money transfer scam, former Karnataka Minister B. Nagendra has been sent to judicial custody for 14 days by the Special Court of People's Representatives in Bengaluru. This decision follows his recent arrest and interrogation by the Enforcement Directorate (ED).
Nagendra was brought before the court where the ED officials did not request further custody. Consequently, the court has remanded him in judicial custody until August 3. This move is part of the broader investigation into the alleged misappropriation of funds at the Maharshi Valmiki Development Corporation Limited.
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In addition to Nagendra's case, the Special People's Court has also addressed the situation of Satyanarayan Varma, another accused in the scam. The ED officials have requested that Varma be handed over to them on a body warrant. Varma, along with other key figures, is under scrutiny for his role in the financial scandal.
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The scam involves the illegal transfer of approximately Rs 94.73 crore from a bank account related to the Valmiki Corporation to 18 different accounts. The funds were originally held at Union Bank of India, MG Road. In response to the scandal, the state government has set up a Special Investigation Team (SIT) to probe the case.
Several individuals have been arrested by the SIT, including the former Managing Director Padmanabha, Accountant Parasuram, and Nagendra's son, Nagaraj Nekkunti. The authorities have also conducted raids on the residences and offices of key figures, including MLA Basanagowda Daddal and former Minister B. Nagendra. During these raids, crucial documents were reportedly uncovered.
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