Supreme Court grants bail to key accused in Valmiki scam

The Supreme Court on Monday granted bail to Kaki Srinivas Rao, a key accused in the Maharshi Valmiki Scheduled Tribes Development Corporation scam involving former Karnataka minister B Nagendra. The scam involves the alleged illegal diversion of over Rs 89 crore from the state development body through forged documents and fictitious bank accounts.

A bench of Justices Manoj Misra and Vijay Bishnoi allowed the special leave petition filed by advocate-on-record Anil Chandrashekar Nishani. Senior advocate Madhavi Divan argued the matter for the petitioner. The plea challenged the Karnataka High Court's December 19, 2024 order dismissing Rao's regular bail application.

The Deccan Herald reports that Rao, who ran a stock trading firm, was arrested on July 15, 2024. His plea argued that 12 of the 14 accused have been granted bail by the trial court or the high court, and that his continued detention violates Articles 14 and 21 of the Constitution. Rao also cited a serious spinal ailment and 22 months of incarceration with no early trial in sight.