CBI files charges against BSY, kin

Oct 17, 2012 |

Age Correspondent

Bengaluru

Steel tycoon Sajjan Jindal-led Bellary-based JSW Steel Ltd and South West Mining Ltd (SWML) paid `40 crores kickbacks to former Karnataka chief minister B.S. Yeddyurappa, who in turn benefited Jindal Group companies by not insisting on the recovery of `890 crores that was due to the government, causing a loss to the state exchequer, revealed the Central Bureau of Investigation, Bengaluru branch.
The CBI filed a chargesheet before the CBI special court in Bengaluru on Tuesday against Mr Yeddyurappa, his two sons, B.Y. Raghavendra and B.Y. Vijayendra, son-in-law R. Sohan Kumar, former minister S.N. Krishnaiah Shetty, JSW Steels Ltd chief executive officer Vinod Nowal, company’s senior vice-president Vikas Sharma, BSY family-run Shimoga-based Prerana Education Society and five sister companies of JSW Steel Ltd. They have been charged under various Section 120-B (conspiracy) and 420 (cheating) as also under provisions of the Prevention of Corruption Act, 1988 and Karnataka Land (Restriction on) Transfer Act.
The CBI registered criminal cases against Mr Yeddyurappa and others for entering into a criminal conspiracy during 2006-2010.
The CBI chargesheet stated that Mr Yeddyurappa’s two sons and son-in-law purchased two plots, together measuring one acre at Rachenahalli village near Bengaluru for `40 lakh which had been notified for acquisition by the state government for Arkavathy Layout in February 2004 by violating various laws. Then chief minister Yeddyurappa denotified the land in November 2008 and granted permission to convert the land from agriculture to non-agriculture (residential) purposes. He allegedly abused his official position in violation of various regulations, in connivance with then minister Krishnaiah Setty and his sons and son-in-law.
Later, the same land was sold at `20 crore to South West Mining Ltd in 2010, even though the guidance value was only `1.5 crore.
Investigation revealed that `20 crore was allegedly a cover-up to the alleged illegal gratification received from Jindal Group by Mr Yeddyurappa as a quid pro quo for not insisting on the recovery of `890 crore due to the government from the JSW Steel Ltd. It was the loss caused to the government-run Mysore Minerals Ltd, which had entered into an agreement with JSW Steel Ltd for the joint venture project — Vijaynagar Minerals Pvt Ltd (VMPL).
The CBI probe revealed that JSW Steel Ltd, through its sister concern South West Mining Limited (SWML), donated `20 crore to Prerana Education Society, run by Mr Yeddyurappa’s family.
The chargesheet runs into 10,000 pages, includes 511 documents and statements of 167 witnesses. The Supreme Court on May 11 ordered the CBI to probe the illegal mining case.

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