The Enforcement Directorate (ED) continued its searches for the second consecutive day on Thursday at the residence of Karnataka Minister Satish Jarkiholi and his close associates in Belagavi. The searches continued till late Wednesday night as part of an investigation into alleged illegal foreign investments.
The ED said the searches were conducted in connection with allegations relating to investments made abroad.
According to the agency, the searches at the residences of Satish Jarkiholi and his associates were carried out under the provisions of the Foreign Exchange Management Act (FEMA), 1999.
Officials are examining documents and financial records relating to alleged investments and transactions carried out in foreign countries. The ED said the case involving Jarkiholi is a separate investigation being conducted under FEMA.
The investigation concerns allegations of illegal investments in various countries, including South Africa and Uganda. Officials are examining whether Satish Jarkiholi had made any funds transfers or investments in connection with the alleged foreign investments.
As part of the investigation, ED officials are scrutinising documents relating to foreign investments, money transfers, properties and other financial transactions at the minister’s residences and other locations.
The searches were conducted at Satish Jarkiholi’s residence in Gokak city, where his wife and daughter, MP Priyanka Jarkiholi, were present. The ED also searched the residence of Jarkiholi’s family member Y. Manjunath in Belagavi and the residence of Girish Sonawalkar, who is said to be a close associate of the minister.
The residence of Jarkiholi’s private secretary, Malagouda Patil, was also searched as part of the ongoing investigation.
Earlier, Karnataka Chief Minister D.K. Shivakumar criticised the Bharatiya Janata Party (BJP), calling the ED searches targeting Jarkiholi “politically motivated” and accusing the BJP of misusing central investigating agencies.