So, who gets to own Jayalalithaa’s properties?

Over six months have passed since Jayalalithaa’s death, but it is still not known who would finally get ownership of her properties

shivani

Shivani Chaturvedi | July 31, 2017 | Chennai


#Deepa   #Ooty   #Poes Garden   #Sasikala   #Jayalalithaa   #properites   #will  


  It’s been over six months since then Tamil Nadu chief minister J Jayalalithaa died, yet it is still not clear who would finally get to own the sprawling bungalow at Poes Garden and her other properties.

 Legal experts say no one has come forward yet to file a case and stake claim over the properties. 
 
Madras high court advocate Sivasankar says that only Jayalalithaa’s niece Deepa and nephew Deepak, who is the son of Jayalalithaa’s late brother J Jayakumar have the legal right to claim the property, but nothing has been done till date.
 
He adds, “It seems as on date everything is under custody of AIADMK chief VK Sasikala and her clan. Apparently Poes Garden is in Sasikala’s custody and others like Deepa (Jayalalithaa’s nephew) are not permitted inside. Even the estate in Ooty is held by Sasikala.”
 
Nobody knows to whom the legal heir certificate has been issued, says Sivasankar who adds, the certificate should be issued based on the application for class II legal heir status.  
 
As of now, there is no record of a will left behind by Jayalalithaa.
 
   
 Retired justice D. Hariparanthaman says there are only speculations over who would acquire her properties. No one knows the exact status.
 According to the affidavit submitted by Jayalalithaa in her nomination paper for the 2016 assembly election from RK Nagar constituency in Chennai, the total value of her assets was Rs 113.73 crore. She had movable assets worth Rs 41.63 crore and immovable properties were valued at Rs 72.09 crore.
 
 Details of movable assets:
 
 Cash in hand - Rs 41,000.
Bank deposits - Rs 10,63,83,945
 Investment in bonds, debentures and shares - Rs 27,44,55,450
 
Jayalalithaa in her affidavit said that deposits and shares with the companies were seized by the police and were under the custody of special court Bangalore, in the case relating to disproportionate assets against her.
 
 Investments in five firms as 'partner', which are together worth Rs 27,44,55,450. The firms are Shri Jaya Publications, Sasi Enterprises, Kodanad Estate, Royal Valley Floritech Exports and Green T Estate.
 
Motor Vehicles - Two Toyota Prado SUVs, together valued at Rs 40 lakh. An Ambassador car of 1980 model, a Mahindra Jeep, a Mahindra Bolero, a Tempo Traveller, a Swaraj Mazada Maxi, a Contessa (1990 model), and a Tempo Trax. Total value of all the vehicles is Rs 42,25,000.
 
 Jewellery - 1,250 kg of silver articles valued at Rs 3,12,50,000.
 
Jayalalithaa said that gold articles weighing 21,280.300 grams are lying in the Karnataka treasury and are not in her possession, so their exact value could not be ascertained.
 
 Details of immovable assets:
 
 Agriculture land
14.5 acre of land in Hyderabad, bought in June 1968 - current market value Rs 14,44,37,300
3.43 acres of land bought in December 1981 in Cheyyur village, Kancheepuram district of Tamil Nadu- current market value Rs 34,00,000
 
 Commercial buildings
79, Poes Garden, Chennai, bought in July 1991 - current market value Rs7,83,10,500
Sri Nagar Colony, Hyderabad bought in December 1967- current market value Rs 5,03,75,490
Flat in Teynampet, Chennai bought in April 1990- current market value Rs 4,60,000
Flat in Mandaveli, Chennai bought in July 1989- current market value Rs 43,25,000

 Residential buildings
Veda Nilayam, built in an area of 24,000 sq ft in the posh Poes Garden locality of Chennai. The house is valued at Rs 43.96 crore. Jayalalithaa, along with her mother, bought the property for Rs 1.32 lakh in 1967.
 Liability
 
Her total liabilities were around Rs 2.04 crore.
 

Comments

 

Other News

The changing nature of CSR in India

With the advent of globalization came a new set of challenges for corporations, notably the duty of ensuring the well-being of all stakeholders while also protecting the planet`s natural environment. Although we are dedicated to a faster and more inclusive rate of growth, it is equally imperative that we f

BMC commissioner Chahal conferred with hon. doctorate

BMC commissioner and administrator Iqbal Singh Chahal has been conferred with a Honorary Doctor of Science Degree (honoris causa) by Guru Nanak Dev University in Amritsar, Punjab. Chahal was conferred the degree during the 48th convocation of the University in Amritsar at the hands of Punjab

Sebi to have two-track approach on ESG

Securities and Exchange Board of India (Sebi) aims to use a two-track approach on environmental social and corporate governance (ESG). Addressing a conference on ‘ESG for Atmanirbhar Bharat` in Mumbai, Sebi chairperson Madhabi Puri Buch said that that there should not be a single carbo

Accuracy more important than speed in news: Anurag Thakur

Presenting authentic information is the prime responsibility of media and that facts should be properly checked before they are put in the public domain, union minister of information and broadcasting Anurag Thakur has said. “While speed with which the information is transmitted is imp

FM concludes pre-budget consultations

Union minister for finance and corporate affairs Nirmala Sitharaman has concluded the pre-budget consultation meetings for Budget 2023-24 that were held from November 21 to 28 in the virtual mode. More than 110 invitees representing seven stakeholder groups participated in eight meetings sch

Coal production rises by 18% to 448 MT

The total coal production in the country stands at 448 million tonnes (MT) for the month of October 2022 which is 18% higher than the production of the corresponding period of last year. The growth of coal production from Coal India Ltd (CIL) is also more than 17%. The ministry of coal said

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter