RJD chief Lalu Prasad Yadav's daughter paid a paltry sum of Rs 5,000 to become one of the owners of posh bungalow in Delhi's elite New Friends Colony. Her brother Tejaswi and Ragini were the other two owners.
Income Tax Department probe into Lalu's children alleged benami transactions aimed at buying properties in Delhi has revealed that A B Exports, the company which had purchased the bungalow for Rs 5 crore, was a shell company. This company in turn received funds from other five shell companies operating from Mumbai. The funds were used to buy the bungalow in its name.
Later, the company was taken over by Lalu's kin through share transfer. The company had received funds from Nakshatra Business Pvt. Ltd, Alka Diamonds, Olive Overseas Pvt. Ltd, Triangular Infocom and Yash V Jewells Ltd. When IT sleuths checked the antecedents of these companies in Mumbai, they discovered these were shell companies being operated by a person called Manish Jain and his associates.
India Today TV has accessed Income Tax report which clearly states the source of funds received by these companies was found to be bogus. Inquiries in Mumbai revealed that there is no genuine business of these companies but to convert black money into white on commission basis.
The loans were only given on papers. The report says: "The persons behind the companies were not doing any business. They were working as intermediaries to convert unaccounted cash into balance sheet capital, which could be further used to buy properties through a transaction by disguising as a genuine transaction."
The report says on paper A B Exports showed that it paid an interest of nine per cent on the loans it got from five companies but actually neither the interest was demanded by those companies nor was it paid. Interestingly, A B Exports was taken over by Lalu's kin at a price of merely `4 lakh.
During the course of IT probe, even the shareholders questioned revealed that they merely acted as mediators and they do not even know when the shares of the companies were bought or sold. Lalu and his kin have been saying they have become victims of political vendetta.