STOCK MARKET BSE NSE

Get back Ejipura land from Maverick: Lokayukta to BBMP

Accordingly, the work was required to commence with effect from June 2017, and complete by December 2018, the report states.

Published: 14th February 2022 12:12 PM  |   Last Updated: 14th February 2022 12:12 PM   |  A+A-

Construction

For representational purposes (Photo | EPS)

Express News Service

BENGALURU: The Karnataka Lokayukta has recommended that the state government terminate the contracts between the BBMP and Maverick Holdings and Investments Pvt Ltd (MHIPL) that were signed in 2012 and 2014 and to take back possession of the entire land earmarked for developing quarters for Economically Weaker Sections (EWS) at Ejipura in Koramangala.

The Lokayukta recommended that the state government and BBMP check the validity of the mortgage that was taken after depositing title deeds of the land with Indiabulls Housing Finance Limited (IBHFL).
“If it is not valid in law, take immediate steps to protect the property of BBMP by instituting legal proceedings and consider blacklisting MHIPL for five years,” the Lokayukta stated, suggesting that the quarters be constructed either by BBMP or entrust the work to a well-reputed construction agency.

Before demitting office after his term as Lokayukta ended on January 22, 2022, Justice P Vishwanatha Shetty, in his report to the chief secretary observed: “The BBMP has not exercised its power under clause 3(g) and 5(i) of the joint memo to take over the project and complete the same to protect the interest of 1,512 families waiting to have a roof soon. May be, they were apprehensive of MHIPL engaging them in legal proceedings or they did not muster sufficient courage and strength to take action for the default of MHIPL on account of the fact that the Managing Director of MHIPL, Uday Garudachar, has become an MLA of the ruling party.”

The report revealed that MHIPL has obtained Rs 210 crore from IBHFL and utilised Rs 24.73 crore for constructing 114 units with basement work, while the remaining amount has been withheld without being used for construction which amounts to criminal breach of trust, cheating and misappropriation.  
Recommending steps to get the excess amount, the Lokayukta directed the state to initiate criminal proceedings against the MD and directors of MHIPL for the offences punishable under IPC, if it fails to redeposit the money with outstanding interest payable to IBHFL within three months from the date of demand.  

Maverick MD Uday B Garudachar gave an undertaking before the Lokayukta in May 2017 that they are trying to do their best to complete the construction of houses positively in 18 months, subject to a condition that sanctions and approvals, required for construction of EWS quarters, are issued by BBMP and BDA. Accordingly, the work was required to commence with effect from June 2017, and complete by December 2018, the report states.



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