Bengaluru: The Karnataka High Court on Friday granted anticipatory bail to T N Chikkarayappa, suspended Managing Director of Cauvery Neeravari Nigam Ltd., in the case registered against him by the State Anti-Corruption Bureau (ACB) for possessing assets allegedly disproportionate to his known sources of income.
Justice P S Dinesh Kumar passed the order while allowing a petition filed by Chikkarayappa.
The ACB had registered the case under the Prevention of Corruption Act after the Income Tax Department had raided Chikkarayappa’s premises after the Union government’s demonetisation drive. While the ACB had claimed that preliminarily assets worth over Rs. 3.5 crore was found during the raids conducted by the ACB, the accused officer had claimed that though the Income Tax Department had assessed his properties properly, the ACB had not done so.
