'Mega City Scam' NBW to Minister

Jul 07 ,2012 11:30 AM
'Mega City Scam' NBW to Minister

The 1995-2000 Mega City Scam haunted the state Forest Minister CP Yogeshwar once again. The Minister has been issued non-bailable warrant (NBW) by a local court for not appearing in the cases. All the cases were adjourned to September 03. The First Additional Chief Metropolitan Magistrate court trying special economic offences issued the NBW against Mr Yogeshwar recently.

It may be noted that earlier in 2011, the Union ministry of company affairs submitting its report after a probe into the complaints of fraud and cheating against Yogeshwar, who was the managing director of Megacity Developers and Builders Limited which collected huge funds under a mega plan to allot sites in the proposed Vajragiri Township on the outskirts of Bangalore during 1995-2000. As per the report no land was purchased by the company, inspite of collecting hefty amounts from gullible public. Besides this, the Minister has also been facing a criminal case filed by a subsidiary company of Nandi Infrastructure Corridor Enterprise Limited (NICE) on the charge of cheating it of Rs. 2 crore and breach of trust.

The Megacity Site Members' Welfare Association had complained that they have been swindled of Rs 37 Cr after being promised sites in Vajragiri Township that failed to come up.

(With inputs from internet- AW AarKay)

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