ED Search: Cash Recovered Belongs to Family, Says Satish Jarkiholi

Bengaluru, Sept 11 : Karnataka Public Works Minister Satish Jarkiholi on Friday launched a sharp attack on the Enforcement Directorate (ED) over searches conducted at his premises and those of his associates, alleging that the action was politically motivated.

Jarkiholi claimed that the cash recovered during the ED operation belonged to his family and said legal proceedings were underway to secure its return.

"This is not an ED raid, but an inspection," he said, questioning why the agency had not issued a notice if it had doubts over the transactions.

The Minister said searches were conducted at seven to eight locations and claimed that the authorities had obtained the information they were seeking. He maintained that he and his associates had extended full cooperation to the investigation.

Jarkiholi said the ED had also sought details regarding overseas investments and that the notice referred to provisions of the Foreign Exchange Management Act (FEMA). He, however, maintained that the matter relating to the investments was still under legal process.

"There is a political smell behind this search. Small fish are being caught while big fish are being left out. We may have made small mistakes, but there are people in the BJP who have committed bigger mistakes," he alleged.

He said his family was ready to face the legal process and respond to any notice issued by the agency.

Meanwhile, Arabhavi MLA and Satish Jarkiholi's brother, Bhalchandra Jarkiholi, dismissed reports that the Minister had invested Rs 770 crore abroad, calling the claim false and accusing political opponents of attempting to tarnish the family's reputation.

Bhalchandra said Satish had made no overseas investment and clarified that three family members—Rahul Jarkiholi, Priyanka Jarkiholi and Mahadevi Jarkiholi—had invested only Rs 25,000 each abroad.

"Do not spread false news and tarnish our family's name for political purposes," he told reporters after visiting Satish Jarkiholi's residence in Gokak.

He said the ED had seized Rs 1.73 crore from the Gokak residence during the search, but claimed that the family had records to account for the entire amount.

"Two trunks were brought and the money was seized from one of them. We have accounts for Rs 1.73 crore. The documents will be submitted and the money will be released," Bhalchandra said.

On the ED action against Satish Jarkiholi, he said the searches followed allegations and that the Minister would fight the matter through legal channels. He also cautioned against giving a political colour to the searches.