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Multi-crore money transfer case: Karnataka Minister B Nagendra tenders resignation

Opposition BJP has demanded the removal of Nagendra over allegations against him in connection with the case, and also a CBI probe.

Edited By: Arushi Jaiswal @JaiswalArushi Bengaluru Updated on: June 06, 2024 20:56 IST
B Nagendra
Image Source : ANI B Nagendra tenders resigned from his ministerial post

Multi-crore illegal money transfer case: Karnataka minister B Nagendra on Thursday tendered his resignation following allegations of involvement in a multi-crore illegal money transfer case. He submitte his resignation letter to Karnataka CM Siddaramaiah.

What is the case?

The illegal money transfer issue came to light, after accounts superintendent at the Corporation, Chandrashekhar P, died by suicide on May 26, leaving behind a death note.

The note revealed the unauthorised transfer of Rs 187 crore belonging to the state-run Corporation from its bank account, and from that, Rs 88.62 crore was illegally moved to various accounts allegedly belonging to 'well-known' IT companies and a Hyderabad-based cooperative bank.

Chandrashekhar has named the Corporation's now suspended Managing Director J G Padmanabh, accounts officer Parashuram G Durugannavar, and Union Bank of India Chief Manager Suchismita Rawal in the note, while also stating that the 'Minister' had issued oral orders for transferring the funds.

The state government last week constituted a Special Investigation Team (SIT) headed by Manish Kharbikar, Additional Director General of Police, Economic Offences, at the Criminal Investigation Department (CID) in Bengaluru, to conduct the probe.

DK Shivakumar on Nagendra's resignation

On being asked about the resignation of Minister agendra, Deputy CM DK Shivakumar said "He is calling a press conference. In the evening, he will meet the Chief Minister."

Also Read: Karnataka: NIA arrests another accused in murder of BJP's Praveen Nettaru

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