Exclusive: ED files caveat after raiding Nalapad, Sriki and others in Bitcoin scam

Bengaluru

In a move to carry out a hassle-free probe, Enforcement Directorate (ED) has filed a caveat in the Karnataka High Court (HC) on April 21, 2026 after raiding 13-14 locations in alleged Bitcoin scam. 

The raid was carried out based on the Enforcement Case Information Report (ECIR) registered in 2021 on April 20 and 21, 2026. The ECIR number BGZO/01/2021 dated 05.01.2021. 

The ED has so far not issued any press release to disclose seizure of cash and devices. Besides, ED has issued summons to Robin Khandelwala and Sriki. The case is being probed by the team headed by Investigation Officer, V Muralikannan, Assistant Director of the ED. 

In its prayer to the HC, ED has said the case which the agency is probing has merits. The copy of the caveat has been served to all the suspects in the case including Srikrishna Ramesh aka Sriki, Mohammed Haris Nalapad and others. This means if any of the suspects moves the HC for quashing, the ED should be given the opportunity to be heard before passing any orders. 

The caveat specifically refers to search proceedings carried out under Section 17 of the PMLA at the locations of suspects, on April 20 and 21, 2026. The ED stated that the searches resulted in the seizure of material evidence considered crucial to the investigation.

Expressing concern over possible legal action by the opposing party (caveatee), the ED apprehended that an attempt may be made to secure an ex-parte interim order by allegedly misrepresenting facts before the court. The agency argued that such an order, if granted without its knowledge or participation, could prejudice the investigation and cause irreparable harm.

Emphasising that it has a strong case on merits, the ED requested the court to direct that any writ petition or application seeking interim relief in connection with the search proceedings must not be entertained without prior notice to the agency. The petition underscores the principle of natural justice, insisting that the ED be given an opportunity to present its case before any relief is granted.

The ED further informed the court that a copy of the caveat petition has already been dispatched to the caveatee via speed post, with proof of dispatch submitted as annexure. The agency has formally prayed that the court uphold fairness and equity by ensuring its participation in all related proceedings.