IPS Officer Srinath Joshi Will Be Issued Fresh Summons Amid ₹4.92 Crore Cryptocurrency Trail
In a significant turn in the ongoing Karnataka Lokayukta extortion investigation, the Karnataka High Court has granted permission to the Lokayukta police to issue a fresh summons to IPS officer Srinath Mahadev Joshi, reopening the door for his questioning in connection with the case. The development, announced on Tuesday, follows allegations linking Joshi to dismissed constable Ningappa Savant, accused of impersonation and bribery.
Case Background: Alleged Impersonation and Extortion
Joshi, who formerly served as Superintendent of Police with the Karnataka Lokayukta, is alleged to have maintained contact with Savant, who was arrested for posing as a Lokayukta officer and extorting government officials.
The case surfaced on May 23, 2025, when a Tumkur RTO lodged a complaint after receiving a call from someone falsely claiming to be SP Vamsi Krishna of the Bengaluru Lokayukta, demanding money to avoid a raid. The complaint led to Savant’s arrest on June 2 and the discovery of digital communication records including WhatsApp chats, call logs, and alleged cryptocurrency transactions reportedly linked to Joshi.
High Court Proceedings and Updates
Earlier, the High Court had stayed the initial summons issued to Joshi. However, in its fresh directive, the court ruled that since the date of the prior summons had lapsed, police may now serve new summons within the next 10 days, and Joshi retains the right to file for anticipatory bail.
Previously, Joshi’s bail application was dismissed by the Lokayukta Special Court on June 24, which labeled the plea “devoid of merit.” He had also sought a gag order, issued on June 20, to prevent media outlets from publishing potentially defamatory content about his involvement.
Cryptocurrency Trail and Alleged Collusion
Lokayukta police have claimed that Joshi and Savant conspired to pressure officials, allegedly using code terms like “kg” for bribe amounts. Investigators traced 23 crypto wallets to Savant, identifying over Rs 4.92 crore spread across 13 wallets. Joshi’s residence was raided on June 15, and investigators petitioned the High Court on June 30 to extend the probe, highlighting concerns over the credibility of the state’s anti-corruption machinery.
Status of Savant’s Case
Savant, whose arrest triggered scrutiny over police procedures, was granted interim bail on June 19 after a plea from his wife, citing violations of Supreme Court guidelines. The High Court has reserved its decision on Savant’s request to quash the FIR, with further orders expected.
