'Illegal Money Transfer' Case: Karnataka Deputy CM Says Minister Nagendra To Hold Press Conference, Then Resign

Karnataka Minister B. Nagendra will formally resign later today after his name surfaced in connection with an alleged case of illegal money transfer involving a state-run corporation.

File photo of Karnataka Deputy Chief Minister D K Shivakumar. ( Image Source :PTI )

Karnataka Deputy Chief Minister D.K. Shivakumar clarified on Thursday that Minister B. Nagendra, who faces allegations in an illegal money transfer case involving a state-run corporation, had not resigned yet, contrary to his earlier statement that he had quit his post.

Shivakumar said the Scheduled Tribes Welfare Minister would formally resign later in the day after holding a press meeting.

Speaking to the media, Shivakumar added that the 52-year-old four-time MLA, who is also the Youth Empowerment and Sports Minister, had confirmed that he was ready for any investigation, including by the CBI. "We too had discussions with several people, no minister will show the courage to misappropriate such a huge amount of money. It is not easy," he added.

According to a PTI report, Shivakumar had earlier said that, "not wanting to embarrass the party, he (Nagendra) voluntarily came forward and has resigned". "We did not ask him to resign. We discussed [the matter] with him," the state Congress chief had said.

However, after a phone conversation with Nagendra, Shivakumar said, "He (Nagendra) has now told me that he is going to Vidhana Soudha, [will] address the press, and after that he will submit the resignation."

'Illegal Money Transfer' Case

The allegations of illegal money transfer involving the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd emerged after its accounts superintendent, Chandrashekhar P, died by suicide on May 26, and left a note.

The note alleged the illicit transfer of Rs 187 crore from the state-owned corporation's bank account, of which nearly Rs 89 crore was purportedly sent to multiple accounts owned by "well-known" IT firms and a cooperative bank in Hyderabad.

In the note, Chandrashekhar named J.G. Padmanabh, the corporation's now-suspended Managing Director, Parashuram G. Durugannavar, the accounts officer, and Suchismita Rawal, the chief manager of Union Bank of India, through which the transactions were allegedly conducted. He also said that the "minister" had given oral orders for the funds to be transferred.