: Saturday, July 04, 2026 10:56 PM
New Delhi. In a major action in the disproportionate assets case, the Central Bureau of Investigation (CBI) has seized assets worth over Rs 1.24 crore from the bank lockers of the then Senior Manager of Bharat Earth Movers Limited (BEML), Mysore. According to the agency, this action was taken during the search of two bank lockers located in Mysore, Karnataka. CBI said that on April 20, 2026, a case of amassing disproportionate assets was registered against the accused. Preliminary investigation had revealed that the accused had excess assets of more than Rs 1.20 crore compared to his known sources of income, which was about 51 percent more than his legitimate income. In the course of investigation, two bank lockers of the accused were opened on 3 July 2026. Of these, one locker was in 80 Feet Road branch of State Bank of India, Mysore and the other was in VV Mohalla branch of Karnataka Bank. During the search, CBI found gold jewellery, silver articles, 24 carat gold bullion, silver bars, cash and documents related to fixed deposits (FD).
The recovered material included 525 grams of gold jewellery, 416 grams of silver items, 24 carat gold bricks weighing 241.21 grams, two kilogram silver rods, Rs 12 lakh and two fixed deposits (FDs) of Rs 10 lakh each.
According to the CBI, the accused could not give any satisfactory explanation regarding the source of the gold bricks, silver bars, cash and FD. After this the agency confiscated all these properties. However, gold jewelery and other silver items have not been seized at present and their investigation is ongoing.
According to the agency, the total value of seized gold bricks, silver bars, cash and FDs is estimated at Rs 1,02,91,184. At the same time, if gold jewelery and silver items are also included, the total value of the recovered property reaches Rs 1,24,91,184.
CBI said that this new recovery has been included in the disproportionate assets of the accused. After this, the total suspicious assets of the accused have increased to approximately Rs 2.45 crore, which is more than 100 percent of his known legitimate income. The agency alleges that this property was acquired through illegal means.
The CBI said the investigation in the case is still ongoing and other movable and immovable properties of the accused, financial transactions and role of possible associates are also being investigated. After completion of the investigation, further legal action will be taken in the matter.
—
Read this also – Click to read the news of your state/city before the newspaper.
Web Title-CBI Seizes Assets Worth ₹1.24 Crore from Former BEML Officials Bank Lockers in Disproportionate Assets Case
