Siddaramaiah hands over gifted watch to Assembly Speaker

March 2, 2016

Bengaluru, Mar 2: Mired in a controversy over a luxury watch gifted to him, Chief Minister Siddaramaiah today handed it over to the Speaker amid uproar in the state Assembly, declaring it a state asset.

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As the Assembly was rocked by the controversy for the second consecutive day, an angry Siddaramaiah gave the watch and a letter to Speaker Kagodu Thimappa as BJP and JDS members continued to stage a dharna in the well of the House.

Siddaramaiah's dramatic gesture came when the House reassembled after two adjournments with BJP and JDS persisting with their demand for a discussion on the issue.

The Chief Minister said in the letter to the Speaker, who read it out, that he had paid "advance tax" for the watch.

"I, being the Chief Minister of Karnataka, by following the precedents set by my predecessors in Office, declare that the gifted watch HUBLOT BIG BANG.301-M as government asset...," Siddaramaiah said.

He requested the Speaker to forward the watch to the Chief Secretary to place it in the Cabinet Hall at Vidhana Soudha, the state secretariat, today.

"I, being a law abiding citizen, have paid the tax on the said gifted watch as advance tax on this day of 2nd March 2016," the letter said.

He said the pre-owned "HUBLOT BIG BANG-301-M" wrist watch was presented to him by his Dubai-based NRI friend Dr Girish Chandra Varma in July last at Bengaluru as a personal gift.

Siddaramiah also said Varma has no official dealings with Government of Karnataka or its organisations.

Opposition BJP leader Jagadish Shettar dismissed Siddaramaiah's action as "high drama" and said he was doing so thinking that the controversy would end.

A high-level probe by a central agency should be conducted, he said.

The Chief Minister is in the eye of a storm over the diamond-studded watch.

As controversy erupted, he declared last week that the watch, claimed to be worth Rs 70 lakh, would be declared as state asset and handed over to the government.

As the Assembly met for the day, BJP members entered the well of the House and demanded that a discussion on the issue be allowed and Speaker should reconsider his decision on not allowing an adjournment motion on the issue.

However, Thimmappa, who yesterday rejected BJP's appeal to allow adjournment motion, stuck to his decision.

Following this, BJP continued its protest, stating that affidavit, documents and receipt relating to the watch had to be made public by Verma, who is said to have gifted it.

As both opposition and treasury benches were involved in war of words, the House was adjourned by the Speaker who called the floor leaders for a meeting.

When the House reassembled, opposition members again entered the well and demanded a discussion.

Amidst sloganeering and protest by opposition, the Speaker even allowed introduction and passage of Karnataka Legislature Salaries, Pension and Allowances (Second Amendment) Bill, 2015, aimed at making provision to provide family pension to family members of the member deceased before December 26, 1978 operative from February 22, 2014.

As the protest continued, the Speaker once gain adjourned the House till afternoon.

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Comments

Rikaz
 - 
Thursday, 3 Mar 2016

He should have kept it with him....who cares....why the hell kumarswami cares...if you go and dig KS home...you will find crores of corrupt money in his home....

suleman
 - 
Wednesday, 2 Mar 2016

If that is the Genuine Hublot Bigbang, I bet that is worth Rs. 30 Lakhs.
Any way for Reddy brothers and Kumaraswamy that is peanut.

Rikaz
 - 
Wednesday, 2 Mar 2016

Why did he give it to State...it was a gift for him...strange...opposition do do not have any other issue to screw him....common guy its a watch...why on the hell you guys stopping proceedings...wasting tax payers money...

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Agencies
February 8,2020

Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.

“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.

“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”

The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.

The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”

The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.

The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.

Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.

Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.

“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.

Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”

Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.

Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.

“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”

Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.

There is a “very substantial risk they will never get it back,” Howe said.

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News Network
April 1,2020

Mysore,  Apr 1: A team of the state Health Ministry on Monday visited the pharmaceuticals company whose several employees were tested positive for COVID-19.

The team asked the remaining employees to stay under quarantine in separate rooms.

"The department is investigating whether this company has got any connection with China or received any object which might have brought coronavirus with it," said Jawaid Akhtar, principal secretary of the health department.

Karnataka Health Minister on Wednesday confirmed that the current COVID-19 positive cases in the state stood at 101.

According to the Ministry of Health and Family Welfare, the total number of COVID-19 positive cases have reached 1,637 in India, including 1,466 active cases, 133 cured/discharged/migrated people and 38 deaths.

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News Network
June 5,2020

Madikeri, Jun 5: Karnataka Minister for Revenue R Ashok said a Rs 10 crore grant would be released shortly for construction of a permanent building for 'Relief Centre' in Kodagu district which is vulnerable to floods because of its hilly landscape.

According to an official release here on Friday, the Minister symbolically handed over the newly built houses to flood victims in Jambur in Somwarpet on Thursday evening.

He said that whenever the 'Relief Centre' is vacant it will be used for government meetings.

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