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Tuesday, July 17, 2018

CBI chargesheets BSY,kin in graft case

JSW Steel chairman Sajjan Jindal,CEO Vinod Nowal and senior vice president Vikas Sharma have also been named.

Written by Johnson T A | Bangalore | Published: October 17, 2012 3:31:06 am

The CBI on Tuesday named former chief minister B S Yeddyurappa,his two sons and a son-in-law along with steel major JSW Steel and four of its Bellary-based affiliates for criminal conspiracy,cheating,forgery and corruption in a case relating to alleged payment of Rs 40 crore as bribes to Yeddyurappa’s family and a trust run by them for iron ore mining favours in 2010.

In a chargesheet filed in a special court,the CBI said it has found evidence of quid pro quo deals between Yeddyurappa and his family and JSW Steel. JSW Steel chairman Sajjan Jindal,CEO Vinod Nowal and senior vice president Vikas Sharma have also been named.

According to the chargesheet,the deal involved imposing a ban on iron ore export in Karnataka in July 2010 to allow JSW Steel full access to iron ore sales in the state,waiving off payment of Rs 890 crore in dues to the state government from a mining joint venture with JSW,and for processing mining lease applications from the steel company.

The CBI found that the bank accounts of Yeddyurappa’s sons B Y Raghavendra,an MP,and B Y Vijendra and son-in-law Sohan Kumar allegedly received Rs 20 crore between August and September 2010 from JSW affiliate South West Mining Company shortly after the July 2010 ban on export of iron ore.

The transaction was covered up as a land deal through a November 22,2010 registration of 1.20 acre property in Bangalore for Rs 20 crore in favour of South West Mining Company. The “land was sold at an exorbitant rate of Rs 20 crore to a Bellary-based private group of companies even though the guidance value of the land was Rs 1.5 crore. Investigation has revealed that the said amount of Rs 20 crore was allegedly a cover up to the illegal gratification received from the Bellary-based company,” the CBI said in a release.

Agreement to sell the property was signed on July 27,2010 between Yeddyurappa’s sons and the JSW Steel affiliate. Yeddyurappa banned export of iron ore on July 28,2010. The CBI also charged Yeddyurappa and his sons with criminal conspiracy,cheating and forgery for the means by which they acquired the 1.20 acre land.

The CBI found that Rs 20 crore was allegedly received by Prerana Educational and Social Trust — run by Yeddyurappa’s sons — in order to facilitate the waiver of government dues and to push through pending mining lease applications. Other JSW-linked firms named are Industrial Techno Manpower Services,Jai Bharath Technical and Real Technical Solutions.

BJP expels BSY loyalist for six yrs

Sending a tough message to rebel BJP leader B S Yeddyurappa,the party on Tuesday expelled his loyalist and former Union minister V Dhananjaya Kumar for six years. The expulsion of Kumar,recently eased out as Karnataka’s Special Representative in Delhi,a post with Cabinet rank status,came within hours after he questioned the state leadership for issuing him a show-cause notice after his outbursts against Chief Minister Jagadish Shettar over his handling of the Cauvery issue.

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