Multi-crore illegal transfer of funds: Karnataka Minister B Nagendra resigns 

BENGALURU: Karnataka Youth Empowerment, Sports and Tribal Welfare Minister B Nagendra has resigned from the state cabinet following allegations of his involvement in the multi-crore illegal money transfer case. Nagendra handed over his resignation letter to Chief Minister Siddaramiah while the BJP's protest is continuing in the state.

Earlier, there were reports that the Chief Minister had asked Minister Nagendra to resign from his post following the Central Bureau of Investigation (CBI) launching a probe into the alleged diversion of Rs 187 crore of government funds to finance the Lok Sabha election in Telangana and other states by the Congress government.

The BJP claims that Rs 187 crore, meant for tribal welfare, was transferred from the government account to individual accounts for use in election expenses of the Congress in Telangana and other states.

The BJP also alleged that it is impossible to transfer such a huge amount without the knowledge of Chief Minister Siddaramaiah.

Special Investigation Team (SIT) seized Rs 45 crore deposited in Hyderabad First Finance Cooperative Bank on Thursday. Sources said that a total of Rs 94.73 crore was transferred to fake accounts in this bank from the Tribal Welfare Corporation.

The SIT has arrested Satyanarayan, a key person, in connection with this case while also arresting five individuals, including the Personal Assistant (PA) of Minister Nagendra, Nekkunti Nagaraj.