BENGALURU: The Directorate of Enforcement (ED), Bengaluru, has issued a Provisional Attachment Order (PAO) of attaching two immovable properties worth Rs 1.10 crore of TN Chikkarayappa, ex-managing director, Cauvery Irrigation Corporation Ltd, Water Source Information Centre, Bengaluru, under the Prevention of Money Laundering Act (PMLA) in connection with a corruption case.
The central agency, in a press release, stated that its investigation has revealed that Chikkarayappa, with the help of other accused, illegally amassed disproportionate assets worth Rs 5.33 crore, which is 304.93 % in excess of his legal source of income.
He bought immovable properties in the name of known persons and further got them transferred in the name of his family members with this illegal income. The ED launched an investigation on the basis of an FIR registered by the Anti-Corruption Bureau (ACB), Bengaluru City (now Karnataka Lokayukta, Bengaluru), against Chikkarayappa under various sections of the Prevention of Corruption (PC) Act.
The ACB had also charge-sheeted him and other accused before the City Civil and Session Court under Sections of the IPC and PC Act.