
Karnataka Bhovi Corporation scam: ED attaches former officials' property worth Rs 26 crore
The Enforcement Directorate has provisionally attached assets worth Rs 26.27 crore in the Karnataka Bhovi Development Corporation (KBDC) scam case. The properties belong to former KBDC general manager B K Nagarajappa, former managing director R Leelavathy, and others.
The attachment was made as part of ongoing investigations into alleged financial irregularities within the corporation.
The ED said in a statement on Monday, 'The investigation revealed that B K Nagarajappa, the then General Manager, KBDC, and Ms R Leelvathy, the then Managing Director, KBDC, in connivance with middlemen and their associates, have misappropriated the funds from KBDC by sanctioning the loans/subsidies/financial assistance to the bank accounts of more than 750 fake beneficiaries, which were fraudulently opened by them.
'Later, the amounts so sanctioned from KBDC were diverted to the bank accounts of various entities viz Adithya Enterprises, Somanatheswara Enterprises, New Dreams Enterprises, Harntiha Creations, Annika Enterprises–controlled by B K Nagarajappa and others–which were used in the purchase of properties, making payments to middlemen and further diverted to bank accounts of individuals and various other entities.'
Arrested by the ED on April 5 and April 12, respectively, Nagarajappa and Leelavathy are in judicial custody in the scam case.
The ED alleges that the money misappropriated from the Karnataka Bhovi Development Corporation was mainly used by the accused to maintain a luxurious lifestyle and to acquire immovable and movable properties in their name and in the names of their family members.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
19 minutes ago
- Time of India
70-yr-old guard killed in R'bore tiger attack; 3rd in 2 months
1 2 3 4 Jaipur: A 70-year-old guard of a Jain temple inside Ranthambore Fort was killed in a tiger attack Monday, marking the third human kill in the state's most popular tiger reserve within two months. The death triggered an emergency response, with National Tiger Conservation Authority (NTCA) approving a pending proposal to urgently relocate the sub-adult cubs of tigress Arrowhead (T-84), allegedly behind a series of attacks on humans in Ranthambore, including the latest one. The victim was identified as Radheshyam Mali from Sherpur village. Around 4.30am, he went out to relieve himself outside the temple premises when the tiger pounced on him and dragged him away, officials said. Tensions escalated as Mali's kin and locals staged a protest outside the forest department at the fort later in the day, demanding Rs 50 lakh compensation, a govt job for a family member, and 10 bighas of land. Negotiations between the authorities and the protesters remained inconclusive till late evening. Last month, Arrowhead's cub Kankati killed a seven-year-old boy. A week later, she killed a 40-year-old forest guard.


Time of India
19 minutes ago
- Time of India
Shongtong-Karcham gets 2026 deadline, HP bets big on hydro
Shimla: Himachal Pradesh chief minister Sukhvinder Singh Sukhu has set a firm Nov 2026 deadline for the completion of the long-delayed Shongtong-Karcham hydroelectric project, saying the 450-MW plant will generate Rs 1,000 crore in annual revenue and strengthen the state's green energy ambitions. Sukhu on Monday inspected the under-construction site in Kinnaur district — visiting both the power house at Karcham and the barrage site at Powari — where he met engineers and workers. He said that even though the project had dragged on for 13 years, the state's current Congress govt had fast-tracked its progress and was committed to commissioning it on schedule. "This project symbolises our focus on tapping river resources to drive economic growth," Sukhu said, adding that the state was moving actively to regain control over stalled or externally-managed hydroelectric initiatives. He claimed that the govt was assessing the total expenditure incurred on other major hydropower projects — including Dhaulasidh, Luhri, and Sunni — with plans to resume and regulate their construction under state-led terms. "Unlike the previous BJP govt, which compromised state interests, we are prioritising Himachal Pradesh's control over its energy assets," Sukhu said. The CM also announced that HP was advancing plans for a geothermal power facility at Tapri in Kinnaur and expanding its capacity in solar and green hydrogen energy. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Despite being an energy-surplus state, HP still buys electricity from neighbouring states during winter for Rs 5 to 6 a unit. Sukhu said the state was ramping up solar-energy generation to offset this seasonal gap. "It has 626 MW worth of solar-power projects in various stages of development currently through the Himachal Pradesh Power Corporation Limited (HPPCL)," he said. Revenue Minister Jagat Singh Negi and senior district officials accompanied Sukhu during the site visit. MSID:: 121728609 413 |


Time of India
19 minutes ago
- Time of India
Industries minister Harshwardhan Chauhan says Centre not distributing charity to Himachal
Shimla: Himachal Pradesh industries minister Harshwardhan Chauhan on Monday said that the central govt is not distributing charity to Himachal Pradesh, but the state is only getting its share, like all other 29 states of the country. Responding to the statements made by BJP MPs Anurag Thakur, Suresh Kashyap, and others that the central govt is providing sufficient funds to Himachal, the industries minister clarified that if Himachal is getting funds under the Pradhan Mantri Gramin Sadak Yojana, Pradhan Mantri Awas Yojana, or MGNREGA, it is the right of the state. "It is not the case that Himachal started getting these funds only when the BJP came to power in the Centre. Himachal used to get the same funds even when the previous govt was at the Centre as per the set pattern," he added. The minister, however, accused the central govt of not releasing funds to the state govt, especially around Rs 10,000 crore under the post-disaster needs assessment (PDNA), though the state govt sent the claims to the Centre in the financial year 2023-24. He claimed that the central govt is indirectly benefiting other states ruled by the BJP or its allies. Chauhan questioned the BJP leadership in Himachal about whether they got any funds or schemes sanctioned for the hill state other than what the state is getting under the existing schemes. The cabinet minister also held former chief minister and current leader of opposition Jai Ram Thakur, as well as the previous BJP govt, responsible for putting Himachal into a financial mess and a vicious cycle of loans. MSID:: 121728401 413 |