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The departure of Chavan, son of former chief Minister and Union Home Minister S B Chavan, follows the recent exits of senior Congress leaders Baba Siddique and Milind Deora, deepening the party's challenges in the state.
CM's daughter had approached Karnataka High Court seeking a stay on proceedings of the SFIO.
The matter has been adjourned 36 times since 2017.
The petition claimed the current police investigation in the case was ineffective.
The AICC chief said the Modi government's policies have affected minorities and women most.
Apex court says the agency must hold a fair investigation.
A bench of Justices Bela M Trivedi and S C Sharma said the high court and the trial court committed error in granting bail to them.
The money was allegedly paid to facilitate the mining of mineral beach sand and manufacturing synthetic rutile, bypassing environmental and pollution concerns.
On Thursday, Congress demanded a court-monitored probe into Exalogic Solutions after the findings of the panel came out.
There is a secret deal between the Sangh Parivar forces and Pinarayi Vijayan. Cases pertaining to both these parties are being settled, Satheesan alleged.