Police had registered an FIR on July 19 after a district court direction based on a complaint about alleged lack of transparency in the transaction between Basaveshwara Vidya Vardhak Sangh (BVVS) in Bagalkot and a Bangalore-based institute with which Tejaswini was associated.
BVVS runs a large network of educational institutions in north Karnataka. Knowledge Park of India Trust's Amrutha Institute of Engineering and Management Sciences in Bangalore, of which Tejaswini was managing trustee, was amalgamated with BVVS in the Rs 24 crore transaction.
Former MLA Veeranna Charantimath is among those named. The court had also earlier asked police to file a report on the progress of probe on September 27.
Kumar said, "I don't know ABC of that FIR. Even my wife doesn't know. Therefore, we are totally unaware of things because there is no issue in this for no gratis; for no returns. The entire institution which was having more assets than the liabilities has been given to that public trust (BVVS). Therefore, I don't think there is any issue.