The Hindu : Karnataka / Bangalore News : State opposes bail to fraud accused

Online edition of India's National Newspaper
Wednesday, Sep 05, 2007
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Karnataka

Karnataka - Bangalore

State opposes bail to fraud accused

Staff Reporter

‘Darshinika foundation has cheated nearly 35,000 of Rs. 230 crore’
The foundation was established to take up social work

BANGALORE: The State Government on Tuesday submitted to the Karnataka High Court that Darshinika Foundation, a charitable trust started with the intention of helping the physically and mentally challenged, had duped 35,000 depositors of Rs. 230 crore.

Making these submissions, State Public Prosecutor (SPP), S. Dore Raju said when a case of cheating the depositors was initially registered against Darshinika, it was assumed that the depositors had been cheated of Rs. 8 crore. However, further investigations into the case had revealed that nearly 35,000 investors had been cheated by foundation to the tune of Rs. 230 crores.

The SPP opposed bail to K.V. Krishnamurthy, saying that he is arrayed as accused no. 1 in the case registered at Shankarapuram police station under Section 3, 4 and 5 of the Prize Chits and Money Circulation Schemes (banning) Act of 1978 and Sections 408, 418 and 420 of the Indian Penal Code. He said that that though the foundation was established to take up social work and for the uplift of the disabled, its trustees and office-bearers had misused the donations and money collected and diverted crores of rupees for themselves. He also placed before the court certain records of the case.

Justice H. Billappa adjourned further hearing on the case.

Dismissed

Justice N. Kumar on Tuesday dismissed a petition by Perk Inn International challenging a notification of October 10, 2005 and October 8, 2006 by the Special Land Acquisition Officer acquiring their land for the construction of elevated road near Electronics City (Hosur Road).

The petitioner said its lands were sought to be acquired for constructing an elevated road connecting Electronic City phase 2. Both the entry and exit loops for the elevated road was to be through the lands belonging to the company.

In another case, Justice N. Kumar dismissed petitions by several companies challenging the construction of National Highway No. 7 (Bangalore-Hosur Road).

The petitioners, Fanuc India private limited, Nettur Technical Training Foundation (NTTF), Tata Power, Altron Industries, Q-soft Software and several others had challenged the October 10, 2005 notification under the National Highways Act, 1956 seeking their lands for further expansion of NH 7.

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