Latest news with #Nagarajappa
Hindustan Times
26-05-2025
- Business
- Hindustan Times
K'taka Bhovi 'scam': ED attaches assets of former KBDC officials
New Delhi, The Enforcement Directorate on Monday said it has attached assets worth more than ₹26 crore of two former Karnataka Bhovi Development Corporation officials as part of a money laundering investigation into alleged financial irregularities in this state-government run department. The KBDC works for the welfare of the persons belonging to the Bhovi scheduled caste. The attached properties belong to B K Nagarajappa, a former general manager of KBDC, R Leelavathy, an ex-managing director of the body, and some other accused. A provisional order has been issued under the Prevention of Money Laundering Act to attach the assets that are worth ₹26.27 crore but have a current market value of ₹40 crore, the central agency said in a statement. Nagarajappa and Leelavathy were arrested by the ED in April as part of this investigation and they are currently lodged in jail under judicial custody. The ED alleged that the two officials, in connivance with middlemen and their associates, "misappropriated" the funds from KBDC by sanctioning the loans, subsidies and 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 like Adithya Enterprises, Somanatheswara Enterprises, New Dreams Enterprises, Harntiha Creations and Annika Enterprises "controlled" by Nagarajappa and others. This money was used in the purchase of properties, making payments to middlemen and further diverted to bank accounts of individuals and various other entities, the agency claimed. "The money misappropriated from KBDC was mainly used to maintain their luxurious lifestyle and to acquire immovable and movable properties in their names and in the names of their family members," the ED said. The money laundering case stems from multiple Karnataka Police FIRs filed on charges of "misuse and diversion" of funds worth ₹97 crore from the KBDC.
Time of India
12-05-2025
- Time of India
CID arrests former Karnataka Bhovi Development Corporation GM
Bengaluru: CID on Monday arrested BK Nagarajappa , a former general manager of the Karnataka Bhovi Development Corporation , in connection with an alleged fund transfer scam in the financial institution. He was produced before a local court, which remanded him in police custody for 10 Enforcement Directorate (ED) had arrested Nagarajappa in April and interrogated him during a 14-day police alleged scam, initially discovered in Nov 2023, is being probed by CID. Preliminary investigations have revealed that approximately Rs 97 crore were misappropriated by transferring funds to over 500 bank accounts created under fictitious beneficiary has already made several arrests in connection with the case, including the corporation's former managing director R Leelavati and her sister R Managala, who is employed at the Indian Institute of Science.
News18
08-05-2025
- News18
Insured Tractor, Uninsured Trailer—Who Pays for Accident Death? Supreme Court Answers
Last Updated: In 2012, a Karnataka labourer named Nagarajappa died after the trailer he was travelling in overturned due to the rash and negligent driving of the tractor driver The Supreme Court has ruled that an insurance company is liable to pay compensation when an accident occurs in an uninsured trailer attached to an insured tractor, if the tractor was the root cause of the accident. The case arose from a 2012 incident in Karnataka where a labourer named Nagarajappa died after the trailer he was travelling in overturned due to the rash and negligent driving of the tractor driver. His widow and two daughters filed a claim under the Motor Vehicles Act seeking compensation. The Motor Accident Claims Tribunal awarded Rs 9.5 lakh but held that since the trailer was not insured, the liability rested solely on the vehicle's owner and driver. However, the Karnataka High Court later enhanced the compensation to Rs 13.28 lakh and made the insurance firm, Royal Sundaram Alliance Insurance Company, liable. Challenging this, Royal Sundaram approached the apex court, arguing that its policy only covered the tractor, not the trailer or passengers on it. The insurer contended that the high court's order was erroneous and contrary to the terms of the policy and legal precedents. Rejecting the appeal, the Supreme Court bench of Justices Ahsanuddin Amanullah and Sudhanshu Dhulia upheld the high court's view, holding that since the tractor was the 'main cause" of the accident, its insurer could not escape liability merely because the trailer was not separately insured. The trailer was being pulled by the insured tractor, and the accident occurred during the movement of the tractor-trailer. The cause of the accident was the tractor itself. Therefore, the insurer of the tractor is liable, the apex court ruled. 'If an insured vehicle hits another vehicle which in turn hits a third vehicle, then for the entire chain of accidents, the liability would pass on to the vehicle which was the root cause of the accident because it is the result of the action in the same chain of events which cannot be segregated, compartmentalised," said the bench. The court added that in India's ground realities, trailers are often unregistered and uninsured, and insisting on separate insurance in every such case would undermine the welfare-oriented spirit of the Motor Vehicles Act. At the same time, the court protected insurers from unlimited liability, holding that while they are liable to pay the full compensation to victims, they may recover any excess amount (beyond their policy limit) from the vehicle owner. First Published: May 09, 2025, 00:19 IST
