Sasikala likely to be released on Jan 27, 2021

News Network
September 15, 2020

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Bengaluru, Sept 15: Late Tamil Nadu Chief Minister J Jayalalithaa's aide V K Sasikala, serving a four year-term in a corruption case here, may be released from jail next January provided she paid the fine amount of Rs 10 crore, Karnataka Prison department has said.

Sasikala, lodged at the Parappana Agrahara Prison here, was convicted and sentenced in February 2017 in the Rs 66 crore disporportionate assets case. "As per prison records, convict prisoner number 9234 Sasikala's 'probable date of release' is January 27, 2021, provided in-default fine amount is paid as awarded by the honourable court," Superintendent of Central Prison at Parappana Agrahara, R Latha said in response to an RTI query.

The reply was to the query by activist T Narasimha Murthy on September 11. Latha added Sasikala's "probable date of release" would be February 27, 2022 if the fine is not paid.

The officer explained the probable date of release may vary if Sasikala utilises a parole facility. She will have to pay Rs 10 crore to walk out of prison on January 27, 2021, else spend another 13 months behind bars. After the Supreme Court restored the trial court judgement in toto against Sasikala and two of her close relatives in the disproportionate assets case,(V N Sudhakaran and J Elavarasi), she surrendered before the court in

Karnataka on February 15, 2017 and has been lodged in Parappana Agrahara Central Jail. Her two relatives are also undergoing four years simple imprisonment and all three of them were slapped with a fine of Rs 10 crore each.

With the death of Jayalalithaa in 2016, who was the first accused in the case, the appeal by Karnataka against her stood abated. Last week, Sasikala's counsel had expressed hope of her early release, possibly by the end of this month, citing remission for good conduct.

As per norms, three days of remission for good conduct is available for every month in jail and so far, she has completed 43 months, making her eligible for a reduction of

129 days in prison, "The Karnataka Prison Manual does not have any provision barring remission to those convicted for offences under the Prevention of Corruption Act.

"As per the manual, I strongly believe that she will be released by the month end," her advocate N Raja Senthoor Pandian had said. When the remission of 129 days is applied, the release will be during the month end and not the previously expected date of January 2021, he had said.

Sasikala has already spent a total of 35 days in jail in 1997 and 2014 and availed a 17 day parole in 2017, which is deducted from the period she already served, he had said.

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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News Network
November 18,2024

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Mangaluru: The Ullal police have arrested Manohar, the owner of Vazco Beach Resort, and its manager Bharath in connection with the drowning of three college girls from Mysuru at the resort’s swimming pool on November 17.

City Commissioner of Police Anupam Agrawal confirmed the arrests, stating that a case has been registered under Section 106 of BNS. The bodies of the victims, all in their twenties, have been handed over to their parents. The women had arrived at the resort for a weekend getaway on November 16.

Following the tragic incident, the resort was sealed by officials led by Mangaluru Assistant Commissioner Harshavardhan. The trade license of the resort, issued on June 13, 2024, has been suspended, and the tourism department has temporarily revoked the resort's registration. These actions prohibit the resort from engaging in any tourism-related activities until further notice.

Someshwara TMC Chief Officer stated that the suspension was due to the resort's failure to implement adequate safety measures, which resulted in the loss of three lives. Further investigations are underway.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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