Rs 4,500cr deposit scam: Neelannavar sent to 14-day judicial custody

Belagavi: In connection with the alleged Rs 4,500 crore deposit fraud case, prime accused Shivanand Neelannavar was remanded to 14 days of judicial custody by the 2nd Additional District and Sessions Court on Wednesday.

Neelannavar was produced before the court by CID officials after the completion of his 10-day custodial interrogation period. After hearing submissions from the investigating agency, the judge ordered that the accused be sent to judicial custody as the probe into the high-profile case continues.

During the hearing, Neelannavar informed the court that he was suffering from health issues, including chest pain, and sought permission for proper medical treatment. Responding to the plea, the court observed that adequate medical facilities were available and directed that necessary treatment be provided if required.

“Treatment facilities are available at BIMS Hospital, and if necessary, treatment can also be availed at KIMS Hospital, Hubballi. If further medical care is required, an application may be filed through counsel. Jail authorities will also ensure medical treatment in case of health issues,” the judge Gangadhar KN observed.

The court also directed Neelannavar to cooperate fully with the ongoing investigation, noting that the case remains under probe. Following the court order, Neelannavar was shifted to Hindalga Central Prison under tight security.

On Tuesday, the CID officials seized four high-end cars in the name of the accused Neelannavar and another car he gifted to actor R Abhilash. They also conducted an inquiry of Neelannavar’s wife, Sangeeta and Abhilash. CID also issued a notice to Neelannavar’s business partner, Subhash, to attend the inquiry, but he remained absent.Get the latest lifestyle updates on Times of India, along with Bakrid wishes, messages and eid 2026