Minister denies link with racket, DKS says Parameshwara may have gifted Ranya Rao Rs 15-25 lakh

BENGALURU: Parameshwara met Karnataka CM Siddaramaiah Thursday and asserted that he had no connection to the Ranya Rao gold smuggling case. He called the ongoing ED raids on institutions linked to him "politically motivated".

Later, he said ED teams visited four institutions associated with him - Siddhartha Institute of Technology , Siddhartha Medical Colleges in Tumukuru and Begur, and Siddhartha Academy of Higher Education - seeking financial records of the past five years. "I have instructed my staff to cooperate with them... The search is still going on," Parameshwara said.

Deputy chief minister DK Shivakumar defended Parameshwara, stating the latter may have given Ranya Rao "a gift of Rs 15-25 lakh during a family event or marriage" but that did not imply any involvement in the alleged gold-smuggling racket. "Charitable institutions often help people... Small charity might have been extended for marriage, school fees, hospital bills; I'm not denying such help (being extended). Let's see what they (ED) do (in the rest of the matter)," Shivakumar said.

ED sources alleged that a trust linked to Parameshwara "diverted" funds and paid Rs 40 lakh towards Rao's credit card bills without documents, allegedly on the instructions of a "politically exposed person".

Parameshwara, however, declined to comment on reports linking the searches to the arrest of Ranya Rao in March this year for allegedly smuggling 14.2 kg of gold. "I don't want to comment at this point of time. Let the investigation be completed," he said.

Earlier in the day, several ministers, including Satish Jarkiholi and Dinesh Gundu Rao, visited Parameshwara's residence to express solidarity with him.