Peshwe is richer than thought

The Lokayukta police on Monday unearthed more properties belonging to Lakshman Rao Peshwe, the Managing Director of Karnataka Neeravari Nigama Limited.

Sources in the Lokayukta police said two four-storey commercial properties in Jayanagar and Banashankari have been discovered.

The registration value of these properties is Rs 3.4 crore. Police have also recovered documents pertaining to the ownership of two flats in Hebbal with a registration value of Rs 75 lakh. All three properties are in the name of Peshwe’s wife, Kanchana.

The police had conducted raids on Peshwe’s properties on June 22 and recovered property, cash and jewellery. Five places yielded Rs 2.07 lakh in foreign currency.

Police also seized documents pertaining to two flats in Jayanagar, one flat on Kanakapura Road, two houses in BHEL Layout in Kengeri, four sites at Hennur Banaswadi Road and one in Horamavu, the registration value of all properties adding up to Rs 2.83 crore.

Bank accounts, deposits and cash yielded more than Rs 1.3 crore.

Further searches led to discovery of more properties leading to his arrest on June 27. Peshwe is at present in judicial custody as his bail application was rejected by the court.

Peshwe has now appealed to the High Court for bail. The police had earlier submitted to the Lokayukta Court that his properties were disproportionate to his known sources of income.