DK Shivakumar gets bail in money laundering case

NEW DELHI: The Delhi High Court on Wednesday granted bail to Congress leader and former Karnataka minister D. K. Shivakumar in a money laundering case.nnThe high court granted bail to Shivakumar asking him to furnish a personal bond of Rs 25 lakh and two sureties of like amount each. The court directed him not to leave the country without permission.nnEnforcement Directorate (ED) had arrested the former Karnataka minister on September 3.nnShivakumar has been on the radar of the Income Tax Department and the ED since demonetisation in 2016. An Income Tax search at his New Delhi flat on August 2, 2017, led to the seizure of unaccounted cash amounting to Rs 8.83 crore.nnThereafter, the Tax Department lodged cases against the Congress leader and his four associates under Sections 277 and 278 of the Income Tax Act, 1961, and Sections 120(B) (criminal conspiracy), 193 (Punishment for false evidence) and 199 (False statements made in declaration which is by law receivable as evidence) of the Indian Penal Code (IPC).nnIncidentally, according to Shivakumar”s affidavit submitted to the Election Commission ahead of the Assembly elections in 2018, his daughter Aisshwarya owned assets of Rs 108 crore compared to only Rs 1.09 crore in 2013. Shivakumar, however, clarified that Aisshwarya was not dependent on his income and that he was still declaring her assets as per the Representation of Peoples Act.nnSource: IANS