<p>Leelavathi, the managing director of Bhovi Development Corporation, was arrested by the ACB on Wednesday for “misusing” government funds. A court has sent her to judicial custody. </p>.<p>In April and May, police had searched Leelavathi’s houses in Mahalakshmi Layout and Jalahalli as well as the residences of the corporation’s general manager, Nagaraj, in Vijayanagar and Magadi Road. </p>.<p>The action followed a probe carried out on the basis of a complaint filed by a resident of Srinivasapur, Kolar district, that the two officials had "misused" about Rs 150 crore of the corporation's funds. </p>.<p>According to the complainant, the officials released more money to a few individuals under the Udyama Sheelata Abhivruddi Yojana (self-employment loans). Loans were also issued in the name of non-existent individuals. </p>.<p>After searching her premises, police had asked Leelavathi for files necessary for the investigation. But she neither responded nor cooperated in the probe. Accordingly, she was arrested. </p>
<p>Leelavathi, the managing director of Bhovi Development Corporation, was arrested by the ACB on Wednesday for “misusing” government funds. A court has sent her to judicial custody. </p>.<p>In April and May, police had searched Leelavathi’s houses in Mahalakshmi Layout and Jalahalli as well as the residences of the corporation’s general manager, Nagaraj, in Vijayanagar and Magadi Road. </p>.<p>The action followed a probe carried out on the basis of a complaint filed by a resident of Srinivasapur, Kolar district, that the two officials had "misused" about Rs 150 crore of the corporation's funds. </p>.<p>According to the complainant, the officials released more money to a few individuals under the Udyama Sheelata Abhivruddi Yojana (self-employment loans). Loans were also issued in the name of non-existent individuals. </p>.<p>After searching her premises, police had asked Leelavathi for files necessary for the investigation. But she neither responded nor cooperated in the probe. Accordingly, she was arrested. </p>
