‘BSY’s favouritism led to Rs 4-crore loss’

A report by the CAG on the KSSIDC allotments has unveiled a favour by former Chief Minister B S Yeddyurappa towards Jnana Bharati Prakashana (JBP), a private trust to the tune of Rs 4.16 crore.

Published: 15th February 2013 09:53 AM  |   Last Updated: 15th February 2013 09:53 AM   |  A+A-

A report by the CAG on the Karnataka State Small Scale Industries Development Corporation Limited (KSSIDC) allotments has unveiled a favour by former Chief Minister B S Yeddyurappa towards Jnana Bharati Prakashana (JBP), a private trust to the tune of Rs 4.16 crore.

In March 2010, KSSIDC  issued a notification seeking offers from interested parties for development of lands measuring 11,336 square feet in Rajajinagar. Based on a letter sent to Yeddyurappa in 2009, JBP was offered the land in August 2010 at a cost of Rs 4.81 crore by KSSIDC though it had not submitted an expression of interest.

In October 2010, Yeddyurappa ordered KSSIDC to allot the site to JBP at 50 per cent of the guidance value resulting in the price dropping from Rs 4.81 crore to Rs 1.13 crore. In the middle of all this, the value of the plot had risen to Rs 5.29 crore according to KSSIDC, the report said.

On Bhadra project

According to the CAG audit on the upgradation of Bhadra Reservoir Project (BRP), there is a difference of 300 km length in the estimates. The BRP is managed by the Karnataka Neeravari Nigam Ltd.

The audit shows the approval for cement concrete lining of the right bank canal at stretch of 103 km was undertaken in spite of an expert committee recommending only “vulnerable reaches” be modernised.

‘Flawed contract leads to Rs 876-crore loss’

A transaction audit of a joint venture (JV) agreement between Mysore Minerals Limited (MML) and JSW Limited signed in 1997 has unearthed a loss of `876 crore to the government due to improper framing of the contract to favour the company, the CAG’s report pointed out.

Stay up to date on all the latest Karnataka news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp