The ED, Bengaluru, has provisionally attached immovable properties worth ₹18.32 crore—including residential plots and flats—owned by or linked to Rajesh V.R., Smt. Nagavalli B.S., and their associates, in connection with the investigation into the Bengaluru-based Sirivaibhava Souharda Pattina Sahakari Niyamita under the PMLA, 2002. The total value of attachments in this case has now reached approximately ₹35.27 crore.
The Enforcement Directorate (ED), Bengaluru, has issued a provisional attachment order dated August 20, 2026, under the Prevention of Money Laundering Act (PMLA), 2002. Through this order, immovable properties, including residential plots and flats, valued at ₹18.32 crore, belonging to/owned by Rajesh V. R., Smt. Nagavalli B. S., and their associates, have been attached under Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002. This action has been taken in connection with the investigation into the Bengaluru-based Sirivaibhava Souharda Pattina Sahakari Niyamitha.
The ED initiated the investigation based on an FIR lodged at the Subramanyapura police station in Bengaluru.
An investigation conducted under the PMLA, 2002, revealed that public deposits collected by the cooperative society were allegedly diverted through unsecured and irregular loans to entities and individuals associated with Rajesh V. R. and Mrs. Nagavalli B. S. The diverted funds were then used for the acquisition of immovable properties and business activities.
Properties worth ₹16.95 crore had already been attached through a provisional attachment order dated 12.02.2026 and a prosecution complaint dated 26.03.2026 was also filed by this Directorate. During further investigation, additional immovable properties worth ₹18.32 crore were identified, acquired directly or indirectly from proceeds of crime, and have now been provisionally attached.
Further investigation is ongoing.
