ED Allegations Only Suspicions, Not Proven Facts: Satish Jarkiholi

Bengaluru, Sept 12 : Karnataka Minister Satish Jarkiholi on Saturday hit back at the Enforcement Directorate (ED) over its allegations of suspected financial irregularities and overseas investments, asserting that the agency's statements were not final findings and that he was ready to answer every charge if served a notice.

Reacting to the ED's press statement on its ongoing investigation, Jarkiholi said the agency itself had described the transactions as "suspected" and the claims as "allegations", and therefore they could not be treated as established facts.

"They have said it is suspected financial irregularities. They have not said that we have done it. They have only said there is a suspicion and that further investigation is under way," he told reporters in Bengaluru.

The Minister said he would fully cooperate with the investigation if the ED issued a notice.

"Let them issue the notice. If they call us for an inquiry, we will go. They should give us the documents they have, and we will provide our documents. I will answer everything," he said.

Jarkiholi also questioned the basis of the alleged overseas investment, particularly the claim involving a substantial stake, and said such transactions would have to be established through official records.

"If there is an investment, where is it? If 40 per cent investment is being alleged, where is that investment? The transaction has to be shown. Money has not gone from here in the manner being alleged," he said.

Maintaining that the ED investigation was still at a preliminary stage, Jarkiholi said the process could take several months before any definitive conclusion was reached.

"This is a long process. They may say something today and we may say it is not correct. They have to prove what they are saying, and we have to establish our position with documents," he said.

The Minister further said that the ED would ultimately have to submit a final report or take appropriate legal action based on the evidence gathered during the investigation.

"Tomorrow, they will have to file a charge sheet or give a final report. Their findings and remarks will have to come on all these issues," he said.

Jarkiholi also thanked fugitive businessman Vijay Mallya for a tweet extending support to him amid the ED investigation.

His remarks came after the ED said its investigation into the alleged financial irregularities was continuing, including allegations relating to investments abroad.