CID officials have brought Shivam Associates chief Shivananad Neelannavar from Bengaluru to Belagavi for further questioning in connection with an alleged Rs 4,500 crore fraud case, as investigators widen the probe, summon his associates and move to seize luxury assets allegedly linked to investors’ money.
Custody Nears End as Interrogation Continues
Neelannavar is being questioned at the Malmaruti police station, where the investigation has entered a critical stage. His 10 day CID custody, granted by the court, is set to end on May 27, and officials were preparing to produce him before the court.
The court was to remain closed on Tuesday, prompting the CID to make arrangements to present him before the judge on Monday itself. The questioning in Belagavi comes as investigators continue to examine his alleged role in orchestrating the multi crore fraud.
The case has drawn close attention because of both the scale of the alleged fraud and the expanding line of inquiry around people and assets linked to the accused.
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CID Issues Notices to Family and Associates
The CID has also intensified its probe by issuing notices to Neelannavar’s wife, actor R Abhilash and business associate Subhash in connection with the case. Following the summons, all three appeared before CID officers at the Malmaruti police station on Tuesday.
Investigators are said to be collecting crucial information related to the alleged financial fraud from those questioned. The move suggests that the agency is now examining a broader circle of individuals connected to the accused as it attempts to piece together the full structure of the alleged scam.
The report does not specify the exact allegations against those summoned, but their appearance before investigators signals a widening investigation beyond the principal accused.
Luxury Vehicles Come Under Scanner
Sources said the CID has initiated steps to seize several luxury vehicles allegedly purchased using investors’ money. The list reportedly includes high end vehicles such as the Land Rover Defender, Mercedes Benz and Toyota Vellfire, with the assets said to be worth crores of rupees.
The possible seizure of these vehicles marks a new phase in the case, with the investigation focusing not only on questioning and custody but also on tracing and securing assets allegedly acquired from the suspected fraud proceeds.
With Neelannavar under questioning, his associates appearing before investigators and luxury assets coming under scrutiny, the CID inquiry into the Shivam Associates case appears to be moving rapidly toward a more decisive stage.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
