Difficult to infer that the properties were acquired by means of ill-gotten money, says HC
| May 12, 2015
BJP leader Subramanian Swamy has said that he was appealing in the supreme court against the acquittal of J Jayalalithaa and three others in a disproportionate assets case. The Karnataka government, meanwhile, is still to decide on the appeal against the Karnataka high court's judgement.
In a tweet, Swamy said in a tweet “I will prove that the KHC judgment is a ‘tragedy of arithmetic errors’.
In my Appeal to SC In JJ DA case. I will prove that the KHC judgment is a "tragedy of arithmetic errors". JJ will have to resign again if CM— Subramanian Swamy (@Swamy39) May 12, 2015
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Swamy was the original complainant in the case as well.
The Karnataka high court on Monday declared that the prosecution’s charges that Jayalalithaa amassed wealth and acquired agricultural lands, sites, floated firms, etc “cannot be believed because the money that has been spent for acquiring the said properties can be inferred from the loans borrowed from nationalised banks.”
The court said not only the source of incomes of VK Sasikala, VN Sudhakaran and J Ilavarasi was “lawful” but “object is also lawful.”
In his verdict, Justice CR Kumaraswamy held that the prosecution had not adduced any evidence to the effect that Jayalalithaa instigated or conspired with other accused to acquire lands and immovable properties in their names.
“The prosecution mainly relies on evidence of the sub-registrar and brokers and also sale deeds. Except marking the sale deeds, there is no other evidence. The burden lies on the prosecution to establish the benami transaction. The prosecution has not adduced any evidence with regard to allegation of benami transaction,” the court held.
“The immovable properties were acquired by borrowing huge loans from the nationalised banks. It is difficult to infer that the properties were acquired by means of ill-gotten money. Therefore, in my view, confiscation of the properties by the trial court is not sustainable in law,” said Justice Kumaraswamy.
The value of disproportionate assets was Rs. 2.82 crore and this value was not enough to convict them on charges of corruption, said Justice Kumaraswamy in his verdict while disagreeing with the findings of the special court, which had computed the value of DA at Rs. 53.6 crore.
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