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States » South


K'taka govt suspends two officials over Rs 85 crore misappropriation in KMVSTDCL

Bengaluru, May 30 (UNI) In response to allegations of a Rs 85-crore misappropriation within the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited (KMVSTDCL), the state government on Thursday suspended its Managing Director JG Padmanabha and Accounts Officer G Parashuram pending a departmental inquiry.
The government order detailed that from March 5 to May 23, anonymous individuals withdrew substantial funds from the corporation's bank account. Although aware of the fraudulent transfers on May 22, Padmanabha failed to inform the government until May 27, leading to his suspension.
The order criticised Padmanabha for not acting promptly when Rs 86.62 crore was transferred to 14 anonymous accounts through forged documents.
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