Bengaluru, July 4 (IANS) The Central Bureau of Investigation (CBI) has seized assets worth over Rs 1.24 crore from two bank lockers linked to a former Senior Manager of Bharat Earth Movers Limited (BEML) in Mysuru, significantly strengthening its disproportionate assets (DA) case against the accused.
According to an official statement issued by the CBI on Saturday, the case was registered on April 20, 2026, against the then Senior Manager of BEML, Mysuru, for allegedly possessing disproportionate assets worth more than Rs 1.2 crore, which were estimated to be 51 per cent higher than his known sources of income.
As part of the investigation, the agency opened two bank lockers belonging to the accused on July 3 — one at the State Bank of India, 80 Feet Road Branch, Mysuru, and another at Karnataka Bank’s V.V. Mohalla Branch.
During the searches, investigators found gold ornaments weighing 525 grams, silver articles weighing 416 grams, gold bullion (24-carat gold bars) weighing 241.21 grams, a two-kilogram silver bar, cash amounting to Rs 12 lakh, and two fixed deposits worth Rs 10 lakh.
The CBI seized the gold bullion, silver bar, cash, and fixed deposits after the accused allegedly failed to provide a satisfactory explanation regarding their source. The gold ornaments and silver articles were not seized.
The agency said the value of the seized gold bullion, silver bar, cash, and fixed deposits has been assessed at Rs 1,02,91,184. Including the gold ornaments and silver articles found during the locker operations, the total value of assets recovered stands at Rs 1,24,91,184.
The latest seizure has substantially increased the alleged disproportionate assets in the case. According to the CBI, the accused is now estimated to possess disproportionate assets worth about Rs 2.45 crore, which is more than 100 per cent of his known sources of income.
The investigation is continuing.
–IANS
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