'Anti-CAA protesters are illiterate puncturewalas'

Bengaluru, Jul 16: Chief Minister B S Yediyurappa led state government’s move to amend the Karnataka Land Reforms Act was “a scam bigger than illegal mining” as farm lands worth Rs 50,000 crore will be lost, according to Leader of the Opposition Siddaramaiah.

The government on July 13 promulgated an ordinance to amend the Karnataka Land Reforms Act, allowing non-agriculturists to buy agricultural lands while also increasing the cap on the extent of such land a person or a family can hold.

Plus, the amendment will have retrospective effect, meaning over 13,000 cases registered over the years for alleged violations in acquiring farm lands will be vacated or dismissed.

“There are 13,814 cases across all 30 districts. Let’s assume that each case involves four acres of land. That’s 52,000 acres. These are lands worth Rs 45,000-50,000 crore,” Siddaramaiah told a news conference. “This is a scam bigger than illegal mining. While the mining scam had specific players, here the entire government has fallen for the corporate bodies and real estate lobby.”

The illegal mining scam unearthed when the BJP was in power was pegged at Rs 35,000 crore, which became a poll plank for the Congress to come to power in 2013.

Calling it a “black” legislation, Siddaramaiah said the amendments to the land reforms law will result in large portions of farm lands becoming real estate. “This will destroy the farming community. They’ll now have to stand at the doors of corporate bodies. Farmers will sell their land and real estate will come. What’ll happen to food production?” he said.

The ordinance amends Section 63 and 80 of the Act, while omitting Sections 79A, B and C. “These sections were inserted in 1974 under the D Devaraj Urs government. It was a revolutionary, progressive step to protect farmers and ensure social justice,” Siddaramaiah said.

The Congress leader claimed that there was a “biggest conspiracy” behind this. “All this is being driven by the Modi government. They want to privatize more and more so that reservations will go. They want to bring back the zamindari system,” he said, citing the examples of some other recent amendments to other laws.

The timing of the ordinance is suspect, he said. “If the Yediyurappa government really wanted to help farmers and had good intentions, they could’ve brought this before the Assembly or placed it for public discussion. Instead, they’ve made use of the lockdown period to promulgate the ordinance,” he said.

The Congress will fight the ordinance till it gets withdrawn, Siddaramaiah said. “We will talk to other parties, farmers organisations and Dalit groups to plan protests against the BJP’s hidden agenda and anti-farmer policies,” he added.

Mumbai, May 19: Even as banks in United Arab Emirates are trying to trace NMC founder BR Shetty, a prominent bank in India is seeking to recover loans worth Rs19.13 billion from him and his companies. 

A local court has also barred him and his wife from selling or transferring some properties while it hears the case.

In the court filing, the Bank of Baroda said Shetty had an obligation to handover the title deeds of the 16 properties and mortgage the assets with the bank.

The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the Rs19.13 billion ($253 million) loans, according to a May 16 court order seen by Reuters. The court in Bengalaru set the next hearing in the case for June 8.

NMC, the largest private healthcare provider in the UAE, was placed under administration in April after months of turmoil. It disclosed in March it had debts of $6.6 billion, well above earlier estimates of $2.1 billion.

Finablr, in which Shetty has a controlling stake, said in April it may have nearly $1 billion more in debt than previously reported.

Bengaluru, Jan 14: Days after the Reserve Bank of India (RBI) capped to Rs 35,000 the withdrawal limit of Sri Guru Raghavendra Co-operative Bank, BJP MP Tejasvi Surya on Monday reassured account holders and said Finance Minister Nirmala Sitharaman was personally monitoring the issue.

Taking to Twitter, Surya said, "I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic. Hon'ble Finance Minister Nirmala Sitharaman is appraised of matter and is personally monitoring the issue. She has assured the government will protect interests of depositors. Grateful for her concern."

The Bengaluru South MP also attached a letter in his tweet where he had appraised Sitharaman of the situation.

"Finance Minister, after speaking with the RBI governor and other authorities concerned, assured Surya that the government will do everything in its capacity to protect the interests of the depositors and the long term interests of the bank," the letter read.

It said that Surya also reached out to Sitharaman "three times on January 13" after which she reassured him that the "depositors need not panic".

RBI had, on January 10, imposed certain restrictions on Sri Gururaghavendra Sahakara Bank Niyamitha.

"In particular, a sum not exceeding Rs 35,000 of the total balance in every savings bank or current account or any other deposit account may be allowed to be withdrawn subject to conditions stated in the above RBI directions," the notification said.

The regulatory body said that the bank will continue to undertake banking business with restrictions until its financial position improves.

"These directions shall remain in force for a period of six months from the close of business of January 10 and are subject to review," it said.

The bank has been restricted from granting or renewing any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except.