Lad to move privilege motion, file defamation against arrest

Santosh Lad, a mine owner representing Kalghatgi Assembly constituency in Dharwad, told reporters here that he had already spoken to the Leader of Opposition Siddaramaiah who has supported the proposed move.

A Delhi court had on Friday released Lad on interim bail for two weeks pending investigation in a cheating case after he submitted bank drafts of Rs 7.75 crore to representatives of Dubai-based Emaar MGF group, the complainant company.

The Economic Offence Wing of Delhi Police had arrested Lad from Mumbai airport on Thursday as he was going abroad.

Lad wondered how EOW could issue a look-out circular (LOC) against him three months ago when he was "very much available" and not absconding and had even cast his vote in the recent Rajya Sabha elections in the State.

Moreover, he was not even aware of the look-out notice as EOW had not sent any notice or summons to him.

He alleged "some political forces and some of my own friends" were trying to defame him by getting him arrested. "It's a political game. High influence was used against me", he said but did not elaborate.

Lad said his company was ready to refund the money with interest and settle the issue with the Emaar MGF Group, which however "did not respond".

The agreement was reached between the Dubai group and his firm in 2007 with regard to developing 180 acres on Hosur road but the project did not take off owing to recession in real estate sector, he said.

The agreement had arbitration clause also in case of dispute, Lad said.