In September 2008, barely five months after B S Yeddyurappa had become the first BJP chief minister in southern India, his sons B Y Raghavendra and B Y Vijayendra, struck a land deal. It was probably the first major deal where they had used their father's new position to further the family's wealth.
They got Yeddyurappa to release 1.20 acres of prime land in Bangalore, acquired by the government for Rs 17 lakh in 2004, back to its original owners. The brothers bought the land—originally meant for a residential colony—for Rs 20 lakh when it was valued in the market at Rs 1.34 crore.
It is this land deal that ultimately played a role in bringing to an end Yeddyurappa's tenure as chief minister.
After this first successful land transaction, Yeddyurappa's sons went on to complete 12 other similar land de-notification deals for which, according to complaints pending before anti-corruption courts in the state, they either received circuitous payments in their companies or got portions of valuable land around Bangalore at dirt cheap prices.
News From: http://www.7StarNews.com
Sunday, July 31, 2011
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