<p>Former Prime Minister H D Deve Gowda on Wednesday sought a high-level probe into affairs of the Nandi Infrastructure Corridor Enterprises, (Nice), which is developing Bangalore-Mysore Infrastructure Corridor. <br /><br /></p>.<p>Participating a debate on amendments to the Companies Bill, 2011 in the Lok Sabha, he said Nice which got huge chunk of land on lease at Rs 10 an acre for developing the highway, hypothecated the same land for higher value with banks. <br /><br />Now, the company has entered into an agreement with another firm and racked up Rs 8,000 crore, he alleged.<br /><br />High-level probe<br /><br />After getting the land at Rs 10 per acre, Nice has signed an agreement with an Ajmer-based company for Rs. 4 crore per acre. “I will produce all the documents,” Gowda said while making out a case for a high level probe either by CBI or any other independent agency.<br /><br />He said that for the first phase of the highway project, the State Government had allotted 1,839 acres of land around Bangalore. <br /><br />As these lands belonged to poor farmers, several of them committed suicide after losing their lands. <br /><br />The Karnataka Governor has been apprised of the matter, he said.<br /></p>
<p>Former Prime Minister H D Deve Gowda on Wednesday sought a high-level probe into affairs of the Nandi Infrastructure Corridor Enterprises, (Nice), which is developing Bangalore-Mysore Infrastructure Corridor. <br /><br /></p>.<p>Participating a debate on amendments to the Companies Bill, 2011 in the Lok Sabha, he said Nice which got huge chunk of land on lease at Rs 10 an acre for developing the highway, hypothecated the same land for higher value with banks. <br /><br />Now, the company has entered into an agreement with another firm and racked up Rs 8,000 crore, he alleged.<br /><br />High-level probe<br /><br />After getting the land at Rs 10 per acre, Nice has signed an agreement with an Ajmer-based company for Rs. 4 crore per acre. “I will produce all the documents,” Gowda said while making out a case for a high level probe either by CBI or any other independent agency.<br /><br />He said that for the first phase of the highway project, the State Government had allotted 1,839 acres of land around Bangalore. <br /><br />As these lands belonged to poor farmers, several of them committed suicide after losing their lands. <br /><br />The Karnataka Governor has been apprised of the matter, he said.<br /></p>
