ಕೋಟಿ ಕೋಟಿ ವಂಚನೆ ಕೇಸ್‌ | ಶಿವಾನಂದ ನೀಲಣ್ಣನವರ್‌ ಅರೆಸ್ಟ್‌ – 12 ದಿನಗಳ ಕಾಲ ಇಡಿ ಕಸ್ಟಡಿಗೆ ‌

According to reports from Public TV, the Enforcement Directorate (ED) has arrested Shivanand Neelannavar in connection with a multi-crore financial fraud case involving Shivam Associates. The arrest was carried out by officials from the Mangaluru zonal office of the agency as part of an ongoing investigation into alleged financial irregularities.

Following his arrest, Neelannavar was presented before a special ED court in Mangaluru. The court has remanded the accused to 12 days of ED custody, extending until August 24, to facilitate further questioning and investigation into the company's financial transactions. The case centers on allegations of a massive fraud amounting to approximately 2,110 crore rupees, allegedly perpetrated through Shivam Associates and its various subsidiary entities.

ED investigators have indicated that the probe has uncovered several complex layers of financial dealings linked to the firm. Authorities are currently examining the flow of funds and the involvement of other potential associates as the investigation continues. No further details regarding the specific nature of the charges or potential additional suspects have been released at this time.