Bengaluru, September 12, 2026 (Yes Punjab News)
Karnataka Public Works Department (PWD) Minister Satish Jarkiholi on Saturday dismissed the Enforcement Directorate’s (ED) allegations against him as unproven claims, saying he would respond to any notice issued by the agency and submit documents in his defence.
Reacting to the ED’s allegations concerning overseas investments and suspected financial irregularities, Jarkiholi said the agency had not established anything against him and that the searches would not affect him.
“The ED raids won’t damage me. If the ED issues a notice, I will answer,” he said.
On allegations of investments in Africa, Jarkiholi said ED officials had questioned him during the searches and that he had told them he had made no foreign investments. According to the minister, the officials indicated that further investigation was required.
“If they call me after issuing a notice, I will answer their questions. The process is a long one and may take three to six months,” he said.
Jarkiholi said the ED had described the overseas investments as suspicious, but maintained that neither he nor his associates had made such investments. He said no conclusion could be drawn merely on the basis of allegations.
He added that the ED would first have to issue a notice and provide the documents supporting its claims, following which he and his associates would submit records in their defence.
On allegations related to the PWD, including suspected bribery in contracts, Jarkiholi said those charges too remained allegations and had not been conclusively established.
“They have made allegations, we have rejected them,” he said.
The minister also referred to the ED’s own description of the matter as involving “suspected financial irregularities” and noted that the agency had said further investigation was underway. He said he would respond to each allegation and provide clarifications during the investigation.
The ED conducted searches at 21 premises linked to Jarkiholi and his associates in Bengaluru, Belagavi, Gokak and Kolkata on September 9 and 10 under the Foreign Exchange Management Act (FEMA).
The agency has alleged that the searches were part of an investigation into suspected undisclosed overseas investments, cross-border business links and financial irregularities. It has also alleged irregularities in PWD contracts and the use of unauthorised channels for routing funds to acquire overseas assets.
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