More land denotified in favour of Yeddy sons
In further proof of the involvement of Karnataka chief minister B.S. Yeddyurappa’s family in ill-advised land acquisitions and evidence that the nepotism includes both family and friends, it has come to light that more land was denotified — 10 acres worth `170 crore in a prime Bengaluru location — was denotified in favour of BJP party MLA Hemachandra Sagar and the CM’s sons. Another 3.5 acres in Hebbal, belonging to a city hotelier, was also denotified in similar fashion. The hotelier, Prakash
Shetty, runs Goldfinch Hotels in Bengaluru and Mangalore.
According to documents made available to this newspaper, the CM denotified huge tracts of land to benefit the above two businessmen.
Sahyadri Healthcare and Diagnostic Private Limited was incorporated on October 15, 2009 with three main shareholders — the CM’s sons, B.Y. Vijayendra, B.Y. Raghavendra, and Sagar Healthcare and Diagnostic Pvt. Ltd chairman Hemachandra Sagar with a paid up share capital of `5 lakhs of 50,000 shares of `10 each. While BSY’s sons hold 50 per cent of the shares, the other 50 per cent is held by Mr Sagar.
While BSY’s two sons invested `1.25 lakh, Mr Sagar invested Rs 3.35 lakhs, states the company’s financial statement for the year ending March 31, 2010.
In turn, Mr Sagar was the beneficiary of 10 acres of prime land in Banashankari 5th Stage, which was first notified on 8/4/1989 and finally notified on 7/10/1999. The de-notification was made on 14/12/2009. As of today, the market value of the land is estimated to be around `175 crore. Within a month of incorporation of Sahyadri Health Care, the company got five acres and 34 guntas of land in Shimoga.
In the case of Goldfinch hotel owner Prakash Shetty, he had bought three acres and two guntas of land next to Hebbal Flyover in 2004. The BDA had notified the land in 1995 to set up the HRBR Layout. In 2005, he went to the high court against the land authority challenging the acquisition. Subsequently, the high court in 2008 ruled that the land cannot be denotified. When BSY took over as CM in 2008, his sons were approached by Mr Prakash Shetty, who pressed for denotification. In March 2009, Mr Shetty invested Rs 75 lakhs in Davalgiri Developers Private Limited. BSY’s two sons and his son-in-law, Sonal Kumar, are the three directors of this realty firm. In December 2009, BSY called for Mr Prakash Shetty’s file and ordered cancellation of notification, against the advice of the urban development department and high court orders.
In the days to come, while Goldfinch became the unofficial political hub of the BJP with almost all press conferences being held there by state as well as national leaders, Mr Prakash Shetty acquired 35 acres of land in Tannir Bhavi, Mangalore, for hotels and amusement parks, and 15 acres in Ilwala industrial estate in Mysore. Both land acquisitions came after the CM wrote to industries minister Murgesh Nirani to allot land to Mr Prakash Shetty through KIADB.
Post new comment