B. Nagendra | Photo credit: file photo
The Enforcement Directorate (ED) has provisionally attached four properties worth ₹8.07 crore belonging to former minister B. Nagendra in connection with the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation (KMVSTDCL) embezzlement case.
According to the ED, attached assets, made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, include residential and commercial land and buildings.
The ED has launched an investigation based on several FIRs filed by the Karnataka Police and the Central Bureau of Investigation regarding the misappropriation of funds by KMVSTDCL. The central agency had earlier conducted search operations at Mr. Nagendra’s house and properties.
It initiated proceedings against 25 accused persons and entities and earlier arrested a former minister. The agency further noted that it had earlier issued an interim attachment order through which movable and immovable properties worth about ₹4.94 crore belonging to other accused persons were attached.
The agency claimed it was unable to trace the remaining proceeds of crime allegedly generated by Mr Nagendra. The ED said the untracked returns appear to be either “exhausted” or “hidden”.
Therefore, it was forced to attach properties of equivalent value. Accordingly, four properties owned by Mr. Nagendra were provisionally attached as the equivalent value of the proceeds of crime.
Published – 19 Dec 2025 21:10 IST
