CM Siddarmaiah to declare gifted luxury watch as state asset

February 25, 2016

Bengaluru, Feb 25: Under attack from the Opposition over his luxurious watch, Karnataka Chief Minister Siddarmaiah today said he would declare it as a state asset and hand it over to the government.cmwatch

"About the expensive watch I was wearing, which has been discussed almost everyday and reported in the media, I have this much to say that I will be declaring it as the state asset and deposit it with state secretariat," he told reporters here.

The controversy was fuelled by former Chief Minister H D Kumaraswamy who had claimed the diamond-studded Hublot watch was worth Rs 70 lakh and had been gifted to Siddaramaiah and that he had proof for his claims.

Siddaramaiah revealed that the expensive watch was gifted to him by his close friend (NRI) Gopal Pillai Girish Chandra Verma who visited India last July.

"The full name of the person who gifted this invaluable watch is Gopal Pillai Girish Chandra Verma. He had come to India in July last year. I know him since 1983 and whenever he visits India, he meets me," the Chief Minister said.

Siddaramaiah further clarified, "Verma gifted me the watch, even though I was not keen on accepting it. However, he insisted that I accept it and I accepted because of our long friendship but I did not know how expensive it was."

The CM said he would furnish relevant documents of the watch to the Lokayukta and Income Tax.

The Chief Minister's decision to declare the watch as a state asset comes in the backdrop of criticism from various quarters.

State BJP President and MP Prahalad Joshi had sought a probe by the Enforcement Directorate to find out the owner of the watch and whether customs duty had been paid for it.

A complaint had been filed by city-based activist S Bhaskaran with the state Lokayukta seeking Siddaramaiah's prosecution under the Prevention of Corruption Act for accepting the expensive gift and not declaring it before appropriate authorities.

Reacting to Siddaramaiah's announcement, Congress MLC V S Ugrappa, who had yesterday suggested three options including declaring the watch as a state asset, welcomed it.

Seeking to turn the tables, he asked Kumaraswamy to declare his "luxurious" assets, including cars and watches, as state asset.

Replying to a query, Ugrappa said the Chief Minister was busy with recent by-election, and Taluk and Zilla Panchayat polls and hence could not find time to come out with facts about the controversy earlier.

Kumaraswamy had argued that the Chief Minister should have come out openly the very next day the watch controversy came out in public.

Comments

Curious
 - 
Friday, 26 Feb 2016

Once During Umer rah ruling he distributed clothes to every one, after couple of days he was found wearing new kurtha and pajaama. One person stood and asked ' from the cloths which you distributed we could stitch only kurtha and was not enough for pajaama' but how it was possible to you? Umer rah replied for this question my son will answer . His son said, I gave my cloths to father to complete the set. A good lesson for every rulers.

Vaman Rai
 - 
Friday, 26 Feb 2016

state assets means his property only fooling public, corrupt politicians must be killed infront of public so that people are scared of taking bride.

Bhavya Shree
 - 
Friday, 26 Feb 2016

so many uncounted worth of crores gifts he got in the name of bribe, bribe can be called easily as a gift.. his friend is mad o what? he dont have family o what to gift him a 75lakh not even fools will gift this costly gift, siddaramaiah must be lieing.. govt should scan his every property. looted so many tax payers money i myself pay every year altogether around 6000 hard earned money to the fake govt, who cares.

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News Network
February 2,2020

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

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News Network
April 19,2020

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause -- "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" -- is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.

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News Network
January 26,2020

Kozhikode, Jan 26: The Indian national flag was unfurled at around 10,000 mosques and religious institutions across Kerala on the auspicious occasion of 71st Republic Day on Sunday.

"The national flag was unfurled at around 10,000 mosques across the state on this auspicious occasion as per the instruction of the Waqf Board," Secretary of the Kuttiady Juma Masjid Committee, K Basheer, told media here.

He said that the national flag was also unfurled at the Kuttiady Juma Masjid here as per the instructions.

"Constitution is under threat by the Citizenship Amendment Act, we also read the preamble of the Constitution in solidarity," Basheer said.

Meanwhile, a majestic event was held in the national capital on the occasion of Republic Day.

Comments

kUMAR
 - 
Sunday, 26 Jan 2020

Welcome news.  But i dont think any of sanghi shakhas have hoisted our national flag on this occasion.  I didnt see a single picture in any media or newspaper.   

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