Note ban: ED attaches Rs 25 cr of assets of former Karnataka officer

January 31, 2017

Bengaluru, Jan 31: ED today attached assets worth Rs 25 crore, including three huge agricultural lands and a farm house, allegedly acquired by Karnataka's ex-chief project officer of highway development department in connection with its money laundering probe registered post demonetisation.

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The agency identified the accused as S C Jayachandra, who was also arrested by the agency in December last year under the Prevention of Money Laundering Act (PMLA).

He is in judicial custody at present. The Enforcement Department (ED) said it's investigations have "revealed that several properties were acquired by the accused (Jayachandra) in his name and in the name of his wife, his brother in law and in the name of his mother-in-law.

"All these persons had actively assisted Jayachandra in acquiring and possessing various properties," it said.

The seized assets consist of about 13 residential properties, 3 agricultural lands and a farm house and are mostly in the vicinity of Bengaluru and in the Chitradurga district of the state.

"It was also noticed that the accused had projected the ill-gotten properties as untainted. The market value of these properties aggregates to over Rs 25 crore," it said.

The case emerges from a December 1, 2016 seizure made by the Income Tax department here of Rs 5.7 crore in new Rs 2000 notes.

ED had registered a money laundering case against seven people, including Jayachandra,based on a CBI FIR in the case and had seized new notes worth Rs 91.94 lakh in Rs 2000 notes from them.

The modus operandi adopted by these people, ED had said, was byposing as "customers" looking to get old currency exchanged illegally after paying commission to the said middlemen.

The accused had set up a "systematic" network for supplying new currency notes in exchange of old/demonetised currency to various persons who had hoarded demonetised currencies, it had said.

The customers could get their notes exchanged by paying 20-35 per cent commission, the agency said.

"The accused had supplied new currencies on many earlier occasions to Jayachandra through Prasanth and they fell into trap while making one such effort to supply new currency on December 4.

"The said new currencies were sourced from various parts of Karnataka," it had said.

The role of a few bank officials and entry operators is also under the scanner of ED.

An attachment under PMLA is aimed to deprive the accused from obtaining benefits of his ill-gotten wealth and such an order can be appealed before the Adjudicating Authority of the said Act within 180 days.

Comments

Dodanna
 - 
Tuesday, 31 Jan 2017

A request with POLICE and Judicial Dept to publish the photographs of involved BANK OFFICERS and their all chelas in all news channel and
news papers first.

At least the public will come to know about the real DESH DROHIS.

Rikaz
 - 
Tuesday, 31 Jan 2017

Join him to politics in BJP under Yediyurappa....he too has a case....

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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News Network
December 16,2025

Mangaluru, Dec 16: The Mangaluru City police have significantly escalated their campaign against drug trafficking, arresting 25 individuals and booking 12 cases under the Narcotic Drugs and Psychotropic Substances (NDPS) Act between November 30 and December 13. The crackdown resulted in the seizure of a substantial quantity of illicit substances, including 685.6 grams of MDMA and 1.5 kg of ganja.

The success of this recent drive has been significantly boosted by the city’s innovative, QR code-based anonymous reporting system.

"The anonymous reporting system has received an encouraging response. Several recent arrests were made based on inputs received through this system, helping police tighten the noose around drug peddlers," said the City Police Commissioner.

The latest arrests contribute to a robust year-to-date record, underscoring the police's relentless commitment to combating the drug menace.

Up to December 14 this year, the police have registered a total of 107 cases of drug peddling, leading to the arrest of 219 peddlers. Furthermore, they have booked 562 cases of drug consumption, resulting in the arrest of 671 individuals.

The scale of the seizure for the year reflects the magnitude of the problem being tackled: police have seized 320.6 kg of ganja worth ₹88.7 lakh and 1.4 kg of MDMA valued at ₹1.2 crore. Other significant seizures include hydro-weed ganja worth ₹94.7 lakh and cocaine worth ₹1.9 lakh, among others.

The Commissioner emphasized a policy of rigorous enforcement: "We ensure that peddlers are caught red-handed so that they cannot later dispute the case or claim innocence."

To counter the rising trend of substance abuse among youth, the Mangaluru City police have rolled out uniform guidelines for random drug testing across educational institutions.

As part of the drive, tests were conducted in approximately 100 institutions, screening an estimated 5,500 to 6,000 students in the first phase. 20 students tested positive for drug consumption during the initial screening.

Students who tested positive have been provided counselling and are scheduled for re-testing in the second quarter. The testing will also be expanded to students not covered in the first phase. In a move to ensure strict implementation, police personnel were deployed in mufti in some institutions. Reiterating a zero-tolerance stance, the Commissioner confirmed that random testing will continue, and colleges have also been instructed to conduct drug tests at the time of admission to deter substance abuse from an early stage.

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News Network
December 17,2025

melkar1.jpg

Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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