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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News Network
July 25,2020

Dubai, Jul 25: The founder of NMC Health, BR Shetty, has had a worldwide freezing order placed on his assets at the request of a lender that claims he has defaulted on a loan of more than $8 million (Dh29.4m).

The order was granted to Credit Europe Bank (Dubai) last month ahead of a claim filed at the DIFC Courts against Mr Shetty, New Medical Centre Trading and NMC Healthcare.

The lender said in its claim they “are jointly and severally liable” for the repayment of money initially secured through a credit agreement in December 2013 and renegotiated in December last year. Credit Europe Bank is an Amsterdam-headquartered institution specialising in trade and commodities finance with operations in nine countries.

The credit agreement was guaranteed by two security cheques which the bank said in its claim were signed by Mr Shetty – one drawn on his personal account and another on the account of New Medical Centre Trading – that have been "dishonoured upon presentation due to insufficient funds".

The bank claimed Mr Shetty “has now fled the jurisdiction of the UAE to India” and that there was a risk of his “substantial” assets in the Emirates being dissipated.

The assets frozen include properties in Abu Dhabi and Dubai, as well as shares in NMC Health, Finablr, BRS Investment Holdings and other companies. It allows for up to $7,000 per week to be spent on “ordinary living expenses and reasonable sum[s] on legal advice and representation”, a DIFC Courts document granting the freezing order shows.

Credit Europe Bank declined to comment when contacted by The National, stating it does not comment on ongoing litigation proceedings. Representatives for Mr Shetty and for NMC Healthcare, which is now being run by administrators Alvarez & Marsal, also declined to comment.

NMC Healthcare was founded by Mr Shetty in 1975 and grew from a single hospital into the UAE’s biggest privately-owned healthcare operator, which employed 2,000 doctors and 20,000 other staff. The company was listed on the London stock exchange and at its peak was valued at £8.58 billion (Dh40bn). However, its shares slumped after short seller Muddy Waters Research issued a report in December 2019 alleging the company had inflated its cash balances, overpaid for assets and understated its debts. This led to a string of damaging revelations by the company, including the fact that its debt was materially higher – at $6.6bn – than the $2.1bn on its balance sheet. NMC Healthcare was placed into administration in April by its biggest creditor, Abu Dhabi Commercial Bank, but its UAE businesses continue to trade as a going concern.

Mr Shetty said in a statement issued in April that he has been a victim of fraud committed by "a small group of current and former executives” at companies owned by him. He said bank accounts were created in his name and transactions were made without his knowledge, and that loans, cheques and bank transfers were also fraudulently guaranteed in his name using his forged signature.

In response to the claim filed by Credit Europe Bank (Dubai) at the DIFC Courts, Mr Shetty says he did not personally guarantee loans made to NMC Trading or NMC Healthcare and that the signatures used on cheques guaranteeing the loans are forgeries. His defence cites the opinion of “Dr Al Bah, an independent, experienced and qualified forensic document examiner”, that someone other than Mr Shetty signed the lending agreements and cheques.

An application by NMC Trading and NMC Healthcare to the DIFC Courts to have the claim against it heard in private for fear of triggering claims by other lenders – the group owes money to around 80 local, regional and international lenders – was dismissed, given that the appointment of administrators at the group and allegations of fraud at the company are already in the public domain.

Both companies have indicated to DIFC Courts that they intend to contest the claim against them.

Comments

UAE Muslim
 - 
Sunday, 26 Jul 2020

give money to RSS now to kill muslim....GOD will turn the table for moran like you BR,...shamed of tulu guy cheated the UAE govennment...not root in hell

ANONYMOUS
 - 
Saturday, 25 Jul 2020

amount should be 8 billion dollar and not 8 million dollar

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coastaldigest.com web desk
June 7,2020

Mumbai, June 7: As the Maharashtra government has given green signal for outdoor physical activities under 'Mission Begin Again' despite amidst growing cases of covid-19,  thousands of Mumbaikars flocked to Marine Drive for 'morning walks' on Sunday.

People were seen wearing masks as a precaution from the novel coronavirus pandemic, however, from the viral photo, it seems that no social distancing norms were followed what so ever.

"Better call it marne waalon ka drive," said a Twitter user. "Still people have no sense of responsibility," said another Twitter user.

After nearly 80 days of lockdown, Mumbai and other parts of Maharashtra revved back to life on Friday. 

Most markets, market areas, commercial and trading areas - barring malls or market complexes - reopened for business even as Chief Minister Uddhav Thackeray reiterated that "people should tread cautiously while beginning a 'new life' from today".

Meanwhile, of the total 82,968 cases in Maharashtra, Mumbai now accounts for 47,354 cases and 1,577 deaths.

On Saturday, Maharashtra reported 120 deaths, including 58 in Mumbai, due to COVID-19, taking the overall number of fatalities to 2,969, state Health department said.

The recovery rate in the state stands at 45.06 per cent and the fatality rate at 3.57 per cent, an official statement said.

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News Network
April 28,2020

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TotalAyurvedaCare's objective is to increase accessibility of Ayurvedic treatments, with the streamlined website allowing patients to register for online consultation easily.

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TotalAyurvedaCare.com is a division of Total Herbal Care, a company with strategic interests in herbal brands. Founded by Ed Lateef in 2001, for the retail and distribution of Ayurvedic products in the US, it also began operations in Europe in 2003 and then was merged with The Himalaya Drug Company LTD Europe (SIA The Himalaya Drug Company), which was co-founded by Ed Lateef.

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