The Special Investigation Team (SIT) has arrested an executive engineer of Bengaluru Development Authority (BDA), PD Kumar Nayak, for his involvement in the IMA scam. Several documents related to the case were also seized from his residence.
Kumar, 52, was arrested based on an audio clip released by the director of IMA, Mohammed Mansoor Khan, which claimed that he had accepted Rs 5 crore as a bribe for promising a loan of Rs 200 crore.
Arrested under the Karnataka Protection of Interests of Depositors in Financial Establishments (KPID) Act, 2004, Kumar was later produced before the court. Accepting the charges on him, Kumar reportedly told the investigating officers that Khan had met him to sanction a loan in order to overcome the financial crisis.
"He knew that I had contacts in the revenue and other government departments, so Khan sought my help to meet officials who could help him get the loan. I said it would come at a cost and took Rs 4 crore from him. I spent some of it," Kumar said, reported TOI.
The SIT sleuths raided Kumar for disproportionate assets after they found that he owned two houses in Bengaluru and Davanagere apart from commercial complexes at JP Nagar and Harapanahalli in Davanagere. They also seized Rs 2 lakh in cash from his residence.
SIT chief BR Ravikanthe Gowda said that they have enough proof to link Kumar with Khan and have seized documents which reveal that he had taken money.