Bengaluru, Sept 12 — Karnataka Public Works Department (PWD) Minister Satish Jarkiholi on Saturday said that the Enforcement Directorate's (ED) allegations against him were only "suspected" and "alleged" findings, asserting that the recent searches conducted at premises linked to him and his associates would not affect him.
Reacting to the ED's allegations regarding foreign investments and suspected financial irregularities, Jarkiholi said the agency's claims were only allegations and that nothing had been established against him.
“The ED raids won't damage me. If the ED issues a notice, I will answer,” Jarkiholi said.
On the allegations of investments in Africa, Jarkiholi said ED officials questioned him and that he informed them that he had not made any foreign investments. According to him, the officials told him that they required further investigation into the matter.
“If they call me after issuing a notice, I will answer their questions. The process is a long one and may take three to six months,” he said.
Jarkiholi said the ED had described the foreign investments as suspicious, while he maintained before the officials that no investments had been made by him.
He said no conclusion could be reached based merely on allegations. “They have stated that foreign investments have been made and I have told them that we have not made any foreign investments. No one can arrive at a decision based on allegations,” he said.
Jarkiholi said the ED would have to issue a notice and provide the documents on which its allegations were based, after which he and his associates would submit documents in their defence.
Responding to the allegations concerning the PWD department, Jarkiholi said the charges relating to bribery were also allegations and had not been conclusively established.
“They have made allegations, we have rejected them,” he said.
Jarkiholi also pointed to the wording used in the ED's statement, saying the agency itself had described the matter as involving “suspected financial irregularities” and stated that further investigation was underway.
Jarkiholi said he would clarify each of the allegations and submit his response during the course of the investigation.
The ED had conducted searches at 21 premises linked to Jarkiholi and his close associates in Bengaluru, Belagavi, Gokak and Kolkata on September 9 and 10 under the provisions of the Foreign Exchange Management Act (FEMA).
The agency has alleged that the searches were part of an investigation into suspected undisclosed overseas investments, cross-border business links and financial irregularities. It has also alleged irregularities involving PWD contracts and the routing of money through unauthorised channels for acquiring overseas assets.