Daijiworld Media Network - Bengaluru (SP)
Bengaluru, Mar 5: The state high court (HC) has directed the Central Bureau of Investigation (CBI) to release Rs 53 lac in cash recovered during its raid on the residence and company of Sachin Narayan, a close associate of KPCC president, D K Shivakumar. The raid had been conducted on the allegation of money laundering.
A petition lodged by Sachin Narayan and his company came up before a single judge bench chaired by Justice Michel D’Cunha on Thursday. Advocate for the petitioner argued that the petitioner is not in any way connected with the case. He said that the sum of Rs 43 lac belonging to his company and five lac rupees being personal cash were seized by the CBI. Advocate Prasannakumar also lamented the fact that the CBI had not released the money even after proof about ownership of cash was furnished.
The bench said that the documents on the fact of it prove that the cash belongs to the petitioner. Therefore, it said that the court does not see any need to retain the money with the court and directed the CBI to give the money back and continue to probe the case.