HC orders issue of notice to Karnataka govt. on petition to transfer Valmiki scandal

Bengaluru, NT Bureau: The Karnataka High Court on Tuesday ordered the issue of notice to the state government and other respondents on a petition filed by Union Bank of India seeking a direction to the government to transfer to CBI the probe being carried out against it by the state-constituted SIT in connection with the alleged financial irregularities in a staterun corporation.

A Single judge bench of Justice M Nagaprasanna scheduled further hearing for August 7. Attorney General R Venkataramani, representing the bank, argued that the integrity of banking institutions is crucial.

Highlighting the RBI role in regulating banking functions and ensuring compliance, he said the apex bank has directed banks to refer fraud cases to the CBI to ensure impartial investigations, particularly those transcending state boundaries. The court acknowledged Venkataramani's argument.