State PWD minister Satish Jarkiholi said on Thursday that cash seized by the Enforcement Directorate (ED) belonged to his family and that he would produce records to explain its source, as searches spanning nearly 37 hours at 18 properties linked to him and his associates ended.
He denied that such investments had already been made, saying there were only plans to invest overseas. The minister also questioned why the agency had carried out searches instead of first seeking an explanation through a notice. “There may be a political reason, or it may have come from their own sources. “We knew that our party leaders would be targeted, but the ED came to me first.
The ED searched homes, offices and other properties in Bengaluru, Belagavi and Goa from 6 am on Wednesday as part of a probe into suspected violations of the Foreign Exchange Management Act (FEMA) and alleged investments abroad. The agency said it had seized more than ₹ 3 crore in cash, along with documents relating to overseas investments by members of the Jarkiholi family, including investments in mining businesses in South Africa, Zambia and the Democratic Republic of Congo.
Properties belonging to Jarkiholi’s family members and associates were also searched, said the central agency. Jarkiholi said the agency had questioned him about alleged investments abroad and possible FEMA violations. They could have issued a notice and sought information,” he said. The fact that there have been no raids on BJP leaders is a question,” he said. On the seized cash, he said he would seek its release through the legal process. “I will claim it according to the law,” he said.
