Bengaluru, September 11, 2026 (Yes Punjab News)
Enforcement Directorate (ED) searches at properties linked to Karnataka Public Works Department Minister Satish Jarkiholi ended on Thursday after nearly 37 hours, with the minister claiming that the cash recovered during the operation belonged to him and saying he would provide documents to establish its source.
The ED had launched searches at 18 locations linked to Jarkiholi in Bengaluru, Belagavi and other places from 6 a.m. on Wednesday in connection with suspected violations of the Foreign Exchange Management Act (FEMA) and alleged investments abroad. Properties linked to his family members, associates and others were also searched.
Officials continued examining documents and other material at the premises until Thursday evening. Around Rs 3 crore in cash was reportedly recovered from Jarkiholi’s residence in Belagavi, while ED officials also took away documents from his Bengaluru residence.
After the searches concluded, Jarkiholi addressed the media at his official residence and said he was unable to understand the reason for the ED action.
“We will give proper answers to the questions asked by the ED officials. We have told them that the cash found during the searches belongs to us,” he said.
Jarkiholi said the agency had primarily questioned him about overseas investments and possible FEMA violations. He claimed that officials were told that they were only at the stage of making such investments.
Questioning the need for searches, the minister said the agency could have issued a notice and sought the required information. He also alleged a possible political motive behind the action.
“There may be a political reason, or it may have come from their own sources. They could have issued a notice and sought information,” he said.
Jarkiholi described the operation as a search rather than a raid and said he was ready to cooperate with the ED. Regarding the cash, he said he would claim it according to law and submit documents supporting its source.
The minister also alleged that Congress leaders were being targeted by central investigative agencies and questioned why similar action was not being taken against BJP leaders.
At the same time, Jarkiholi said he would not claim that he had never made any minor mistakes and expressed confidence that the ED would conduct a fair investigation.
Referring to the case involving former Karnataka minister B. Nagendra, he said, “Nagendra happened, and now it is our turn.”
Jarkiholi also raised concerns over apprehensions among people that the action could be linked to his community. He said he would try to meet Chief Minister D.K. Shivakumar on Friday, if possible.
The ED investigation is examining alleged foreign investments and possible violations of FEMA.
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