Belagavi: Arabhavi MLA Balachandra Jarkiholi on Saturday sought to clarify reports surrounding the Enforcement Directorate (ED) searches at the residence of Public Works Minister Satish Jarkiholi and premises linked to his associates, dismissing claims about a ₹750 crore foreign investment and two trunks of cash.
Speaking to reporters after meeting family members, Balachandra said the ED had seized ₹1.73 crore from Satish Jarkiholi’s residence. He said the claims about ₹750 crore in foreign investment and cash being found in two trunks were incorrect.
Balachandra said ED officials had brought two trunks during the search. According to him, cash found in one trunk was taken away, while the other empty trunk was left at the residence.
He said the ₹1.73 crore seized from the house was accounted for and that the family’s auditors had prepared the necessary documents, which would be submitted to the investigating agency.
However, he said he did not have complete information about searches conducted at other locations in Belagavi and Bengaluru.
Addressing reports about a foreign company linked to Rahul Jarkiholi, Priyanka Jarkiholi and Mahadevi, Balachandra said Rahul and Priyanka had invested around ₹25,000 each in the company.
He claimed the company was currently not operational and said it was therefore incorrect to describe the investment as ₹750 crore. The complete details of the financial transactions, however, would emerge only after the ED investigation and an official statement.
Balachandra said the ED, CBI, Income Tax Department, Lokayukta and police had the responsibility to investigate complaints and allegations and opposed attempts to portray the searches as a political attack.
He advised Satish Jarkiholi to fight the matter legally with proper documentation, saying courts, rather than media debates, would ultimately determine the facts.
He also rejected speculation over a ‘Mysuru link’, citing the nearly three-decade relationship between Chief Minister Siddaramaiah and Satish Jarkiholi. Calling them the “two eyes” of the Ahinda movement, he urged people not to speculate while the investigation was underway.
Balachandra recalled that the family had supported Ramesh Jarkiholi during Income Tax searches in 2017 and said similar support was now being extended to Satish, Rahul and Priyanka.
