Karnataka’s richest politician! Cong MLC candidate Yusuf Sharif declares assets worth Rs 1,744 crore

News Network
November 24, 2021

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Bengaluru, Nov 24: The upcoming Karnataka Vidhan Parishad election has turning out to be the battle of billionaires. And it is led by Congress candidate Yusuf Sharif, who has declared assets worth ₹1,744 crore before the state election commission on Tuesday.

The 54-year-old is the owner of Umrah Developers and is known to flaunt his wealth.

He used to work as a scarp dealer, and rose to riches in the years that followed. Sharif owns two Rolls Royce cars. His name recently came to limelight after one of his cars was seized over suspicion that taxes were not paid.

One of the Rolls Royce cars was bought from actor Amitabh Bachchan.

Known as 'Gujari Babu' or 'Scrap Babu', Sharif has faced cheating cases in the past.

The Congress on Monday announced the names of 20 candidates for the biennial elections.

The election to 25 Legislative Council seats will be held on December 10, according to schedule announced by the Election Commission earlier this month. Their term is ending on January 5, 2022. The results will be declared on December 14.

The polling body said that legislative council polls will also be held in Telangana, Andhra Pradesh and Maharashtra on the same date.

The model code of conduct came into effect in the constituencies concerned immediately after the announcement by the poll panel.

The last date for withdrawal of candidature is November 26.

The chief secretaries of all the states where elections are scheduled to be held have also been directed to depute a senior officer to ensure that the extant instructions regarding Covid-19 containment measures are complied with while making arrangements for conducting the elections, the election commission said. 

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News Network
January 6,2025

Bengaluru: An eight-month old baby has been detected with the human metapneumovirus (HMPV) in a Bengaluru hospital on Monday, with reports going viral online. This is likely the first reported case of HMPV in the country after the recent spike in China.

The baby is reportedly undergoing treatment in a private hospital in northern Bengaluru.

The Karnataka state health department has maintained that there is no cause for concern.

"We don't know what strain of virus is spreading in China. Without knowing that, we cannot say that this reported case is concerning. We have been reviewing all influenza-like illnesses (ILIs) from December to check for any strain that is concerning. There is no such concerning spike across the state or country," said a well-placed source in the state health department.

The HMPV is a known virus (first discovered in 2001) that causes respiratory symptoms similar to that of a common cold, largely affecting children below the age of five. It is not a new virus.

Cases have been reported in the past, especially in the winter season, note experts and health department officials, making it not an immediate concern, unless an unusual spike is observed.

In December 2024, 714 suspected cases of HMPV were tested in 16 Virus Research and Diagnostic Laboratories (VRDLs) across the country, of which only nine were confirmed positive.

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News Network
January 1,2025

Udupi: In a shocking case of investment fraud, a 72-year-old man from Udupi, Karnataka, lost Rs 49 lakh after falling prey to a deceptive stock market scheme. The incident highlights the growing menace of online scams targeting unsuspecting individuals.

According to the complaint filed by Francis Castelino, an unknown individual added his son's mobile number to a WhatsApp group titled "Stock Market Navigation." The group shared stock market insights and promised lucrative returns, convincing Castelino’s son to invest. Trusting the information, the son persuaded his father to make substantial investments.

On December 30, 2024, Castelino transferred Rs 17,00,000, his wife contributed Rs 10,50,000, and their son invested Rs 21,50,000 to the bank account provided by the fraudsters. 

However, when Castelino attempted to withdraw the invested money, he and his family were pressured to reinvest further. Realizing that the promised profits and their principal amount were not forthcoming, the family approached the police for help.

A case has been registered at the Udupi CEN Police Station under Sections 66(C) and 66(D) of the IT Act and 318(4) BNS. Investigations are underway to track down the culprits and recover the lost funds.

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News Network
January 9,2025

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

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