Bengaluru Court Grants Bail To Congress' B Nagendra In Money Laundering Case Linked To Valmiki Corporation

A special court in Bengaluru granted bail to Congress leader B Nagendra in a money laundering case linked to the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. Nagendra was arrested by the Enforcement Directorate (ED) on July 12, 2024, following allegations of financial misconduct and misappropriation of funds within the corporation. The case emerged after an official of the corporation committed suicide, leaving a note alleging multi-crore corruption. The ED’s investigation revealed that approximately ₹90 crore was illegally transferred from the corporation’s account to unauthorized accounts. Nagendra, who resigned as the Scheduled Tribes Welfare Minister amid the scandal, was identified as the primary accused. The court granted bail after 93 days of his arrest, considering the completion of the investigation and the filing of the chargesheet by the Special Investigation Team.