Vadra pocketed large premium on colony license: Khemka

August 10, 2013

Vadra_pocketedChandigarh, Aug 10: Robert Vadra's land deals in a village in Haryana have returned to haunt the Congress party and its chief with whistleblower IAS officer Ashok Khemka alleging that Vadra "falsified documents" for 3.53 acres of land in Gurgaon and "pocketed" large premium on a commercial colony license.

In his "voluminous reply" submitted to Haryana government's three-member enquiry committee set up in October last to look into Vadra-DLF deal, Khemka is understood to have alleged that Vadra, who is Congress President Sonia Gandhi's son-in-law, executed a series of "sham transactions" for 3.53 acres of land in Shikohpur village of Gurgaon.

Vadra "pocketed" a huge premium on a commercial license through money that he could account for, Khemka alleged.

The IAS officer alleged that the Haryana's Department of Town and Country Planning (DTCP) "ignored rules and regulations to allow crony capitalists operating as middlemen to flourish and appropriate market premium of a license."

"The DTCP aided Vadra in making these sham transactions," he alleged.

Khemka, who submitted his reply on May 21, says that both the sale deed of February 12, 2008 through which Vadra's company 'Skylight Hospitality' bought land from 'Onkareshwar Properties' and Letter of Intent for granting a commercial license to his company issued by DTCP in March 2008 are "sham transactions" made to enable Vadra to collect market premium.

"If there was no payment as alleged in the registered deed, can it it be said that the registered deed conferred ownership title over the said land upon Skylight Hospitality by virtue of the sham sale," he questions.

Khemka, who had cancelled a land mutuation deal between Vadra and DLF last October, claims that "there was no promise to pay in the future in the registered deed."

No price was paid as claimed in the registered deed. The sale registered in the said deed cannot, therefore, be called a "sale" in true sense of the term, legal or moral and it cannot be said that Skylight

Hospitality became owner of the land in question by virtue of sale registered in the deed, Khemka is understood to have said in his report running into some 100 pages.

While Khemka's reply has gone public, the officer, on being approached by PTI here said, "I will not speak to the media on this issue."

Haryana Chief Secretary P K Chaudhary said, "We are examining the reply (by Khemka)".

The Haryana government's committee had earlier this year concluded that the orders passed by Khemka initiating an enquiry into Vadra's land deals were "without jurisdiction, inappropriate and not covered under any provisions of any statute or rules."

Besides, the committee also held that the order by Khemka cancelling the land mutation was improper.

Demanding a white paper on the transfer of all such licenses permitted in the past to expose the "loot of public wealth," Khemka writes that the DTCP had issued various types of colony licences for a total of 21,3666 acres in the last eight years of the Bhupinder Singh Hooda government's tenure between 2005 to 2012.

He points that if the market premium for a colony licence is assumed to be as low as Rs one crore per acre, the land licensing scam in the past eight years is worth around Rs 20,000 crore.

"At the premium of Rs 15.78 crore per acre that Vadra earned, this figure would jump to Rs 3.5 lakh crore," he claims.

He alleged in the letter the DTCP permitted Skylight to transfer the license to DLF in April 2012 and the licensed land was finally sold to DLF on September 18, 2012.

"By allowing the transfer of license issued in the name of Skylight to DLF, the DTCP created a black market for trading in licenses where cronies are issued licenses which are later sold or transferred with permission of the authority for a fat consideration to the real developers," he writes.

On August 5, 2008 Skylight Hospitality entered into an unregistered collaboration agreement with DLF Universal.

Khemka observes that this led to loss of crores of revenue to the state exchequer due to a collaboration agreement of this kind has to be registered.

The opposition Indian National Lok Dal (INLD) has demanded a probe into the reply by Khemka by a sitting judge of the High Court.

INLD leader Abhay Chautala, who is also MLA from Ellenabad, said his party had thrice raised this issue in the Vidhan Sabha, but the Speaker always tried to suppress it.

"All such transactions are done by the Hooda government to appease Sonia," he alleged

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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News Network
July 11,2020

Kochi, Jul 11: Johnny Paul Pierce's five-month stay in Kerala has been a soul-soothing experience for 74-year-old US citizen. He now wants to spend the rest of his life here.

"Kerala is a beautiful place to live in. This is my fifth trip here. I usually stay here for six months. It is such a magical place to be and I want to share that with people from the US," Pierce told ANI.

He came to India on February 26 on a tourist visa and is staying at Kandanadu in Kochi.

According to Pierce's Advocate, his tourist visa is valid up to January 26, 2025. But on this visa, he can only stay consecutively for 180 days.

The guidelines of the Indian government permit continuous stay for only 180 days for foreigners on tourist visas. His 180 days were set to expire on August 24, which the Foreigner Regional Registration Office (FRRO) extended to August 30.

The US citizen has approached the Kerala High Court seeking to convert his tourist visa into a business visa. The petition will be considered next week.

Pierce has sought a directive to the government to permit him to apply for the conversion of his tourist visa into a business visa and also to extend his stay, without having to leave the country.

"I am making a petition for an extra 180 days to stay. And I would also like to get a business visa in order to begin a tour company to bring people from the US to Kerala after the coronavirus. I wish my family could also come here. I am very impressed with what's is happening here. People in the US don't care about COVID-19," he said.

He talked about the risk of going back to his home country saying, "There are only 27 deaths in Kerala and in the US there over 1.3 lakh deaths. I do not want to go back to the US. I am 74 years old and I am at risk. This is a very safe place for me. I hope India embraces and allows me to stay."

"There's chaos in the US due to COVID-19 and government is not taking care like India. I want to stay here," he added.

Pierce further talked about his future plans, saying that if he is allowed to stay, he would like to lease a small resort and make a retirement community, which will be a COVID free zone.

Lastly, he made an appeal to the Indian government to let him stay in India saying that "all the immigration rules were made before COVID-19."

"There should be special consideration for people like me," he added.

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News Network
March 3,2020

New Delhi, Mar 3: Delhi's Tihar Prison authorities had made all necessary preparations for the hanging of four convicts in the Nirbhaya gangrape-and-murder case which was scheduled for Tuesday, officials said Monday.

However, on Monday evening, a city court deferred the hanging till further orders.

Postponing the execution, Additional Sessions Judge Dharmender Rana said the hanging cannot be carried out pending disposal of Pawan Gupta's mercy plea before the President, observing any condemned convict must not meet his "Creator" with grievance against courts for not acting fairly on the opportunity to exhaust legal remedies.

"We had made all the necessary arrangements for the execution of the four convicts which was scheduled for Tuesday at 6 AM. Now, the execution has been postponed and we are waiting for the further order by the court," a senior jail official said.

The hanging of the four men -- Mukesh Kumar Singh (32), Vinay Kumar Sharma (26), Akshay Kumar Singh (31) and Pawan -- who are lodged in Tihar jail, was fixed for March 3 in Tihar jail on a court order.

"We had checked the ropes. Hangman was called and dummy executions were carried out," another senior jail official said.

Barring Pawan, the other three had in the previous weeks moved curative petitions and mercy pleas which were all dismissed.

The first date of execution -- January 22 -- fixed on January 7 was postponed by the court to February 1. But on January 31, the court indefinitely postponed the hanging. On February 17, the court again issued fresh date for execution of death warrants for March 3 at 6 AM.

The court in its orders observed that the four convicts cannot be hanged since a mercy plea of one or the other convict was pending.

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