The Hindu : Karnataka / Bangalore News : Rs. 20 lakhs seized from Viniv Inc. director's house

Online edition of India's National Newspaper
Tuesday, Aug 02, 2005

Karnataka

Karnataka - Bangalore

Rs. 20 lakhs seized from Viniv Inc. director's house

Staff Reporter

BANGALORE: A team led by the Deputy Commissioner of Police (South), Rama Subba, on Saturday raided the house of Lokesh, one of the directors of the Viniv Inc. group of companies, in Yelahanka New Town police station limits and seized Rs. 20 lakhs in cash.

The Joint Commissioner of Police (Crime), M.C. Narayana Gowda, told presspersons on Monday that the police broke into Lokesh's house in Attur Layout and seized the cash from a cupboard. Lokesh and the chief promoter of Viniv Inc., K.N. Sreenivas, are missing.

Mr. Narayana Gowda said Lokesh was staying at a rented house in Attur Layout. The watchman of the house is also missing for the past few days, he said.

The police have written to the authorities concerned to take steps to confiscate the properties of the Viniv Inc. directors. "We have also written to the banks to freeze their accounts," Mr. Narayana Gowda said.

So far, 6,800 Viniv Inc. depositors have filed complaints at the special counter set up at the Central Police Station. In all, these depositors had invested Rs. 87 crores, he said.

The seer who headed the Yoga Foundation, an alleged money-doubling firm that had its office in Nagarabavi, is still missing. Efforts are being made to trace him, Mr. Narayana Gowda said.

Printer friendly page
Send this article to Friends by E-Mail

Karnataka