There was no need for ED probe into Valmiki Corporation irregularities, says Deputy CM Shivakumar
Bengaluru (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Friday said there was no need for the Enforcement Directorate (ED) probe into alleged financial irregularities in a state-run corporation, as the Special Investigation Team (SIT) constituted by the state government was already on the job.
Shivakumar, who is also the state Congress chief, was reacting to a question on the agency taking former Minister B Nagendra into custody, as part of a money-laundering probe linked to the irregularities in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited.
"We (state govt) are doing an inquiry (through SIT), there was no need for it (ED probe), but they are doing it. I will try to know about it and then speak on it," Shivakumar told reporters here.
Nagendra quit as Scheduled Tribes Welfare Minister on June 6 in the wake of the alleged irregularities.
ALSO READ: Diversion of SC, ST fund in Karnataka exposes Rahul's double standards: BJP
The ED carried out searches at several premises, including those linked to Nagendra and ruling Congress MLA Basanagouda Daddal, who is Chairman of the Corporation, in the last two days.
The agency covered around 20 locations in Karnataka, Andhra Pradesh, Telangana and Maharashtra as part of a case registered under the Prevention of Money Laundering Act (PMLA), the sources said.
Reacting to BJP's protest in Mysuru over alleged fraudulent allotment of sites to land losers by Mysuru Urban Development Authority, which involves plots given to the Chief Minister Siddaramaiah's wife, Shivakumar said: "In Mysuru, they (BJP) are doing politics, there is no truth in it (allegations). When time comes, we will respond to it."
Asserting that there is "no scam", he said: "whatever has been done, was done during the BJP tenure; there is nothing. After winning the election (Lok Sabha), they want to see that Karnataka is in a bad shape. Nothing is there, everything is perfect. We will face all this politically."
Claiming that a conspiracy is being hatched against him out of heartburn as he belongs to a backward class community and has become the Chief Minister for the second time, Siddaramaiah had, while denying the charges on Thursday, asserted that he won't fear such moves by the BJP.
Responding to a question on Siddaramaiah's claims that he was being targeted as he was from backward classes, Shivakumar said: "Definitely, definitely...."
"Only one big state is there (with Congress), so they want to demoralise the state, we won't allow it," Shivakumar said.
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Aditya Birla Group-led consortium acquires RCB for USD 1.78 billion
Bengaluru (PTI): A consortium led by the Aditya Birla Group (ABG) on Tuesday acquired 100 percent equity stake in IPL franchise Royal Challengers Bengaluru for a whopping USD 1.78 billion (approximately Rs 16,706 crore) from its current owner the United Spirits Limited.
Other parties involved in the group are -- Blackstone’s perpetual private equity strategy, BXPE, a firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.
“United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium,” the USL said in a statement.
“The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction,” the statement added.
The transaction includes RCB's men’s and women’s (WPL) teams.
“RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL).
“Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise,” said the USL.
The announcement also concluded the strategic review of RCSPL that was initiated by USL on November 5, 2025.
The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL.
“We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders.”
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India.
“RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.”
As per the sale agreement, Aryaman Vikram Birla, ABG’s director, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
Aryaman Birla, said: “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses.
“Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is.”
Gajwani, Chairman, Times Internet Limited, said: “RCB is the reigning champion and the most popular brand in the IPL. We will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase.”
Blitzer hoped to build on RCB’s recent success.
“RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out.
We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success,” he said.
Patel praised the RCB as one of the strongest sporting brands in the world.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth,” he added.
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx Rs 15,290 crore),
The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).
Somani is an Arizona-based tech entrepreneur who has founded IntraEdge (technology services and solutions), Truyo.Ai (data privacy rights and AI governance) and Academian (edtech services).
The other contenders to buy the team, which won the inaugural trophy in 2008, were the Times Internet-led consortium, the Aditya Birla Group and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
