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High Ground Police File FIR in MVSTDC Rs 87 Crore Scam Investigation


Bengaluru: Following the state government’s directive, the Criminal Investigation Department (CID) has initiated a probe into the scandal at the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation (MVSTDC )Ltd. An officer attached to the corporation allegedly died by suicide.


It has come to light that an unauthorized transfer of Rs 87 crore took place from the corporation’s bank account at the MG Road branch of Union Bank of India to other branches of the same bank. Allegedly, the funds were redirected to the accounts of several software companies. The corporation’s bank account held a total of Rs 187 crore.

The High Ground police have filed an FIR against several individuals, including Union Bank’s MD and CEO Manimekhailai, executive director Nitesh Ranjan, Rama Subramanyam, Sanjay Rudra, Pankaj Diwedi, Shuchita, and members of the bank’s administration staff, as reported by a local news channel.

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