The investigation on illegal hoarding of new currencies by Jayachandra and Chikkarayappa has revealed many shocking facts.

 

T N Chikkarayappa, Managing Director of Cauvery Neeravari Nigam Ltd. has been absconding for the past 25 days. Officers of Criminal Investigation Department (CID) and Enforcement Directorate (ED) are looking for him. ED has issued a lookout notice for Chikkarayappa.

 

CID and ACB are also likely to serve lookout notice for him in order to bring this issue to the notice of court. High court had instructed ACB to probe Chikkarayappa without arresting him.

 

The sources of ED have confirmed that Chikkarayappa has illegal properties in Australia. Even S C Jayachandra, Chief Planning Officer of State Highway Development Project, PWD department also has owned immovable properties and a hotel illegally in America.  

 

Jayachandra has purchased 2 houses in America in the name of his son Trijesh. ED has obtained all the related documents with regard to their illegal properties in foreign countries, including the original deed of immovable properties.

 

Chikkarayappa has a hotel in Australia. Both the officers have made all the foreign transactions in the names of their sons. ED had filed FIR against Chikkarayappa. Chikkarayappa has been absconding without attending to the investigation of ACB and is also waiting for an anticipatory bail from the court. Some sources say that he has fled to some foreign nation.