The Karnataka High Court on Monday directed the government to find out whether any scheme could be worked out so that those persons who allegedly lost money after the Vinivinc scam could be repaid.
Justice Mohan Shanthan Goudar made the observation following a submission by Vinvinc Shastry’s counsel stating that his client undertook to repay all the money that was due to his depositors if enlarged on bail.
Shastry and his associate, G Lokesh were arrested on charges of cheating depositors of their money. Shastry stated in his bail plea that he has been in jail for nearly 10 months and considering the fact that there are over 148 witnesses in the case, there was a likelihood of trial being delayed.
Shastry’s counsel submitted that as long his client remains in jail, he would not be able to repay the amount.
Justice Shanthan Goudar observed that the money had to be safeguarded and hence the state could think of a scheme to ensure that the money is repaid.

VAT
The HC has issued notices to the state govt among others on a petition challenging an amendment to the Karnataka VAT Rules which seeks to charge tax on discounts granted to vehicles with retrospective effect.
An automobile dealer in his petition stated that the prior to the amendment VAT was paid on the discounted amount for any vehicle. However,  the amendment states that VAT could be paid on the discounted amount only if the discount is shown on the invoice. The amendment further states that the new rule would have a retrospective effect from April 1, 2006.

ULB polls
The State election commission has challenged before the High Court an order which had put off the polls to the Urban Local bodies by nine weeks. The appeal will come up before a Division Bench. A single judge bench of the court had put off the elections on the ground that the delimitation had to be redone.