Jayalalithaa DA case- Karnataka will point out wrong totalling of loans

Karnataka, as per the directive of the Supreme Court, will place on record the loan details in relation to the disproportionate assets case.

J Jayalalithaa, the chief minister of Tamil Nadu and three others were acquitted by the Karnataka High Court following which an appeal was preferred.

Special Public Prosecutor for Karnataka, B V Acharya will place before the Supreme Court today the loan details and also point out that the High Court had made certain errors in the totalling of the loans.

The High Court had said that the loan component in Jayalalithaa's wealth was Rs 24.17 crore. However, Karnataka had contended that if the loan table is added up it comes up to Rs 10,67 crore.

Karnataka would state that the judgment of the High Court mentions six other loans availed by entities linked to Jayalalithaa, but do not find a mention in the table of loans which is part of the High Court order.

Karnataka states out of this five loans were given by the Indian Bank branch, Abiramapuram, Chennai, while the sixth was extended by by Indian Bank Thiruvarur branch.

Loan wrongly considered income:

The High Court while acquitting Jayalalithaa and three others had said that Rs 24.17 crore loans had been wrongly attributed as income by both the trial court and also the prosecution. The court held that this had led to the assets being inflated.

Justice Kumaraswamy while delivering the verdict said, "It is crystal clear that Accused Nos. 1 to 4, firms and companies have borrowed loans to the tune of Rs 24,17,31,274."

There is a positive evidence to the effect that Rs 24,17,31,274/- has been borrowed loans from the Nationalised Banks by A-1 to A-4, firms and companies. This is a lawful source of income."

"The percentage of disproportionate assets is 8.12%. It is relatively small. In the instant case, the disproportionate asset is less than 10% and it is within permissible limit," the High Court had also ruled.

Acharya during his submissions on this aspect would point out to the Supreme Court that there is Rs 13.50 crore missing. This figure has been arrived at by subtracting the Rs 24.17 crore and Rs 10,67.

The Rs 13.50 crore is missing according to the chart of the bank loans which has been included in the judgment.

Acharya would argue that the disproportionate assets is actually Rs 16.32 crore ie Rs 13.50 crore and Rs 2.82 crore.

This amounts to over 76 per cent of her known source of income, Acharya would tell the Supreme Court.