MUDA ''scam'': BJP to hold "mega" protest in home district of CM on July 12, demands his resignation
Bengaluru (PTI): Karnataka BJP will be holding a "mega" protest in Mysuru on July 12 in connection with an alleged fraudulent allotment of sites to land losers by Mysuru Urban Development Authority (MUDA), which involves plots given to Chief Minister Siddaramaiah's wife Parvathi, its president B Y Vijayendra said on Wednesday, and demanded the CM's resignation.
The protesters will demand allocation of sites to the poor by withdrawing those distributed illegally, and a CBI probe into the "scam" as the allegations are against the Chief Minister and his family, he said, adding that the BJP will also raise the issue during the coming Assembly session.
It is alleged that compensatory sites were allotted to Siddaramaiah's wife in an upmarket area in Mysuru, which had higher property value as compared to the location of her land which had been "acquired" by the MUDA.
The MUDA had allotted plots to Parvathi under a 50:50 ratio scheme in lieu of 3.16 acres of her land, where MUDA developed a residential layout.
The controversial scheme envisages allotting 50 per cent of developed land to the land loser in lieu of undeveloped land acquired for forming layouts.
Speaking about the alleged MUDA "scam", Vijayendra accused the Chief Minister of giving wrong information to the public. "The CM's true face has come out in the open."
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"At every stage in this land scam, irregularities have been committed, " he alleged. "The Chief Minister has to answer to the people and should take the responsibility for the scam....the CM, who promised Rs 2,000 (a month) to poor women, has given 14 sites worth more than Rs two crore each, together worth about Rs 63-64 crore to his wife."
"If there is any CM in the country, who committed irregularities during his term and sought compensation from his own government, it is Siddaramaiah," Vijayendra added.
Vijayendra noted that 14 sites that were given to Parvathi by MUDA are said to be in accordance with land acquisition act 1991 as per records. But he pointed out that according to the act, if the land that has been acquired is between three to four acres, only two sites of 40x60 square feet measurement should be given in lieu of the land acquired.
"So, the CM's wife should have got only two sites of 40x60 (square feet) measurement. Which means, 14 sites that have been given are completely in violation of rules," he said, alleging "misinformation" on the part of the CM by claiming that his wife received sites which were worth only Rs 18 crore, while she was supposed to have received compensatory sites worth more than Rs 62 crore.
The guidelines value of 14 sites that have been given to CM's wife by MUDA as on today is Rs 3,000 per sqft, while the market value is more than Rs 9,000 per sqft, he claimed.
Vijayendra also alleged that Siddaramaiah has not mentioned this over three acres of land belonging to his wife in his 2013 Assembly election affidavit, which is a clear case of violation of Model Code of Conduct and Representation of the People Act.
"We are discussing complaining to the Election Commission about this," he added.
Alleging that Urban Development Minister B S Suresha (Byrathi Suresha) rushed to Mysuru, the home district of Siddaramaiah, hurriedly called a MUDA meeting as the scam came to the fore, and transferred officials instead of punishing them, the state BJP chief said, "more than Rs 5,000 crore worth sites have been allotted to influential people. The Minister is trying to protect officials involved in the scam."
The Deputy Commissioner of Mysuru district, who inquired about the MUDA scam and submitted a report to the government, has been transferred, he said, alleging that the Minister has tried to cover up the scam, and has himself carried all the relevant files from MUDA office in Mysuru to Bengaluru.
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Silver, gold script sharp comeback as US-Iran ceasefire calms global jitter
New Delhi (PTI): Silver prices surged Rs 11,000 to Rs 2.51 lakh per kilogram in the national capital on Wednesday, while gold advanced to Rs 1.56 lakh per 10 grams amid strong global cues after the US and Iran agreed to a two-week ceasefire.
According to the All India Sarafa Association, the white metal zoomed by Rs 11,000, or nearly 5 per cent, to Rs 2,51,000 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,40,000 per kg.
Gold of 99.9 per cent purity also appreciated by Rs 3,200, or 2.09 per cent, to Rs 1,56,400 per 10 grams (inclusive of all taxes). It settled at Rs 1,53,200 per 10 grams in the previous market session.
Analysts said bullion prices strengthened as geopolitical tensions in West Asia eased, triggering a broader relief rally across global financial markets.
Gold maintained strong gains and approached a three-week high on Wednesday as improved global risk sentiment, along with a pullback in US dollar and crude oil prices, boosted demand for precious metals, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The positive momentum came after an agreement reached just before a self-imposed deadline by US President Donald Trump, who confirmed a pause in military action, conditional on the reopening of the Strait of Hormuz.
Iran also signalled that safe passage through the Strait would be possible during the ceasefire period, further easing supply concerns.
In the overseas markets, spot gold gained USD 97.48, or 2.07 per cent, to USD 4,803.33 per ounce, while silver was trading 6 per cent higher at USD 77.33 per ounce.
"Spot gold in the international markets surged on Wednesday after the announcement of a temporary ceasefire in the Iran war," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.
He added that commodities, bonds and equities rallied after crude oil prices crashed nearly 20 per cent on the ceasefire announcement, as a decline in energy rates will reduce interest rate hike chances by global central banks, including the US Federal Reserve.
Echoing similar sentiments, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said precious metal prices rose up to 7 per cent as the dollar slipped below 99 on US-Iran ceasefire relief, temporarily easing fears of prolonged energy supply shocks and the associated inflationary fallout.
The rally in bullion ran alongside a broader relief rally in global markets. Throughout the conflict, gold's traditional safe-haven appeal has been tempered by liquidity stress, as investors were compelled to liquidate bullion positions to cover losses elsewhere in their portfolios, she added.
"With the ceasefire conditional and compliance around the Strait of Hormuz still uncertain, any signs of a breach or collapse could quickly reverse sentiment and renew downside risk across precious metals," Chainwala said.
