The Karnataka High Court has issued a notice to the State government regarding a petition filed by Union Bank of India, which seeks a Central Bureau of Investigation (CBI) probe into the alleged misappropriation of funds from the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation (Valmiki Corporation).
Justice M Nagaprasanna issued the notice and scheduled the next hearing for August 7.
Attorney General for India, R Venkatramani, appearing in his personal capacity for the bank, argued for a CBI investigation, emphasizing its importance for the country's banking regulations. He stated, “The Union Bank of India approached this Court seeking an investigation by the CBI. The central agency stepping in is crucial in the interest of banking ramifications. The case needs to be looked at differently and it does not matter that the State investigation agency has stepped into it earlier.”
The alleged scam involves the misappropriation of Valmiki Corporation funds, which came to light in May after the Corporation's accounts superintendent, Chandrashekhar, died by suicide, leaving a note that pointed to the misuse of welfare funds.
Following this, the Karnataka government formed a Special Investigation Team to investigate the allegations, while the Enforcement Directorate (ED) also initiated a separate probe.
According to the ED, approximately ₹90 crore was unlawfully transferred from the Valmiki Corporation’s Union Bank of India account to several unauthorized accounts.
TAGS: Karnataka High Court Union Bank of India CBI probe Valmiki Corporation fund misappropriation R Venkatramani Special Investigation Team Enforcement Directorate ₹90 crore Chandrashekhar.
