In his complaint, B M Shankaregowda, President of Primary Land Development Bank, Kolar, alleged that Prakash had declared his annual income as Rs 2.4 lakh and his monthly income as Rs 20,000 when he contested the Assembly polls in May 2008. In 2011, in his asset declaration before Lokayukta, he showed a steep increase in his and his family members' income.
On November 16, 2010, Prakash purchased a commercial property in the prime business area in the city for a sale consideration Rs 14.50 crore for which he paid stamp duty of Rs 97.44 lakh and registration charges of Rs 14.50 lakh.
However, he did not reveal this in his declaration before the Lokayukta, Shankaregowda claimed. The complainant alleged that Prakash had also not disclosed that he was a director of a company, for which he and his family members contributed Rs 32 lakh. Judge N K Sudhindra Rao posted the complaint to April 2 for further hearing.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
