BJP MLA Uday Garudachar sentenced to 2-month jail for cover-up of info in poll affidavit
Bengaluru, Oct 13: BJP MLA Uday Garudachar was on Thursday sentenced to two months' imprisonment by a local court in Bengaluru for keeping off information in his election affidavit.
An Additional Chief Metropolitan Magistrate Court sentenced him to prison and fined him Rs.10,000 for failing to mention two pending criminal cases against him and the fact that he was the managing director of a private company.
He has been found guilty under the Representation of Peoples Act after a complaint was lodged by a person in this regard.
Though the MLA has been sentenced, considering that the sentence is less than two years, the court granted him bail allowing him to appeal to a higher court. He was released on a personal bond of Rs.25,000 and a surety. Uday Garudachar contested from the Chikpet Assembly Constituency from Bengaluru in 2018 and won on a BJP ticket. The affidavit was filed on April 18, 2018.
It was alleged that though he was the managing director of the private firm, his affidavit mentioned him only as an investor. His wife was a director of the same company, which was also not mentioned in the election affidavit. It was also found that he had not mentioned the bank account details of his wife in the affidavit.
The allegation against him as recorded by a court read, "The accused was aware of the criminal case...pending...the accused did not mention about the same in the affidavit. The accused has sworn false affidavit and submitted the same before the election officer."
"The accused also had to furnish his wife's bank balance in the affidavit. But he has not stated the actual balance in her account as on the date of filing the said affidavit. The accused has also stated in the affidavit that he is the investor in the private company and others as well..." Sentencing him, the trial court said the charges against the MLA were proved.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
