No irregularity in govt clearing sale of 3,666 acres to JSW Steel: Karnataka minister
Bengaluru (PTI): Karnataka Large and Medium Industries Minister M B Patil on Sunday asserted that there is no irregularity in the state government's decision to execute the sale deed of 3,666 acres of land in Ballari district to Jindal Steel.
He emphasised that the Cabinet has decided to implement the order issued on May 6, 2021, during the B S Yediyurappa-led BJP government, following a High Court directive on March 12, 2024.
Karnataka Cabinet on Thursday gave its approval for executing an absolute sale deed for 2,000.58 acres of land at Kurekuppa and Toranagallu villages in Sandur taluk, and 1,666.73 acres of land at Toranagallu, Musinayakanahalli and Yerabanahalli, in favour of JSW Steel.
JSW Steel will get 2,000.58 acres at Rs 1.22 lakh per acre and 1,666.73 acres at Rs 1.50 lakh per acre.
Patil dismissed Deputy Leader of the Opposition in the Legislative Assembly Aravind Bellad's accusation of an "internal agreement", in the matter as baseless.
"If there has been any internal agreement, it must be with his own party (BJP)," he retorted, according to a statement from the minister's office.
Noting that Jindal Steel had approached the High Court because the order issued by the Yediyurappa government was not implemented, the minister said, the court subsequently directed that the order be followed, and accordingly, the current government has taken the decision.
Jindal Steel has invested Rs 90,000 crore in the state, creating 50,000 jobs, he further said, and cautioned that failing to execute the lease-cum-sale deed, even after compliance with the government's terms, would send the wrong message to investors.
"Our government has not extended any concessions to Jindal Steel, unlike the BJP, which granted concessions to Chanakya University," the minister claimed, adding that the land price for Jindal Steel was determined based on the market value that prevailed 20 years ago.
Patil also pointed out, "The previous BJP government gave 116 acres of Karnataka Industrial Areas Development Board (KIADB) land to Chanakya University at a significant concession. The real value of that land amounts to Rs 187 crore, causing a loss of Rs 137 crore to the exchequer. Moreover, this amount has not yet been remitted to KIADB." He questioned why Aravind Bellad remained silent on this matter.
The land deal with JSW had run into controversy in the past.
In 2005, when Dharam Singh was the chief minister, the Cabinet decided to give on lease-cum-sale arrangement 2,000.58 acres to JSW.
An order on this was issued by the JD(S)-BJP coalition government that came to power thereafter when Kumaraswamy was chief minister and B S Yeddyurappa was industries minister.
In 2007, another 1,666 acres were allotted.
The Congress-JD(S) coalition government in 2019 had constituted a Cabinet sub-committee to examine the sale proposal, as its decision to convert the lease of about 3,667 acres to JSW Steel in Ballari into sale, in accordance with the initial agreement, had created a row.
Accusing the Congress-JD(S) coalition government of selling the land to the company at a throwaway price (Rs 1.22 -1.50 lakh per acre), the BJP, then in opposition, had held a two-day round-the-clock sit-in. Its leaders had even accused the ruling Congress-JD(S) coalition of receiving "kickbacks" for the sale of land.
The BJP that next came to power, with Yediyurappa as CM, in November 2020, formed another Cabinet sub-committee to look into the land deal.
Subsequently, in April 2021, the Cabinet agreed to sell the land to JSW Steel, but the decision was again put on hold following opposition.
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Essar Group co-founder Shashi Ruia dies at 80
New Delhi (PTI): Essar Group co-founder Shashi Ruia has died after a prolonged illness. He was 80.
Ruia, who co-founded metals-to-technology conglomerate Essar with his brother Ravi, died in Mumbai around 23.55 hrs on November 25, family sources said.
He had returned from the US, where he was undergoing treatment, about a month back.
His mortal remains will be kept at Ruia House from 1 pm to 3 pm on Tuesday. The funeral procession will leave from Ruia House at 4 pm towards the Hindu Worli Crematorium.
Shashi, a first-generation entrepreneur industrialist, started his career in 1965 under the guidance of his father Nand Kishore Ruia.
He, along with his brother Ravi, laid the foundation of Essar in 1969 by constructing an outer breakwater at Chennai Port. The group expanded into various sectors, including steel, oil refining, exploration and production, telecom, power, and construction.
He is survived by his wife Manju and two sons Prashant and Anshuman.
