The Enforcement Directorate searched 18 locations linked to Karnataka minister Satish Jarkiholi and his aides over alleged excise irregularities and suspected illegal foreign investments. The probe covers 18 bar licences, alleged overseas investments in Africa and a reported Rs 3 crore foreign funds trail.
The Enforcement Directorate (ED) on Wednesday conducted searches at 18 locations across Karnataka and Maharashtra linked to Karnataka PWD Minister Satish Jarkiholi and his aides as part of a probe into alleged irregularities in the Excise Department and suspected illegal foreign investments.
The searches are being carried out in connection with a case registered against Jarkiholi and three others under the Foreign Exchange Management Act (FEMA) over alleged large-scale investments in Africa, sources said. The agency is probing alleged investments by the Jarkiholi family in an African mining company.
The ED searches covered six locations in Bengaluru and five in Belagavi, along with premises in Maharashtra. The agency also searched the residence of Chikkodi MP Priyanka Jarkiholi, Satish Jarkiholi’s daughter. The searches assume significance as Jarkiholi served as Karnataka Excise Minister during the first Siddaramaiah government from 2013 to 2016.
The ED also raided the residence of Excise Department Additional Commissioner Manjunath. The searches are linked to allegations that Satish Jarkiholi’s wife, Mahadevi, made illegal investments abroad.
According to sources, the foreign investments came to light during the ED’s earlier probe into alleged irregularities in the Karnataka Excise Department. The agency is examining the financial trail and whether funds generated through alleged irregularities were subsequently transferred or invested outside India.
The ED’s probe also focusses on alleged irregularities in the issuance of 18 bar licenses. Sources said the agency is investigating allegations that Satish Jarkiholi used his influence to facilitate the issuance of licenses and route illicit funds abroad.