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Robert Vadra's wealth grew from Rs 50 lakh to over Rs 300 crore in three years

Discussion in 'National Politics' started by Osiris, Oct 6, 2012.

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  1. Osiris

    Osiris Major SENIOR MEMBER

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    NEW DELHI: India Against Corruption (IAC) members Prashant Bhushan and Arvind Kejriwal on Friday accused Congress president Sonia Gandhi's son-in-law Robert Vadra of large-scale corruption in real estate dealings. In a highly speculated press conference, the IAC members alleged that real estate giant DLF had sold him prime land at throw-away prices and given him interest-free loans. They said, Robert Vadra's wealth grew from Rs 50 lakh to over Rs 300 crore in three years.

    Prashant Bhushan said the balance sheets of five companies set up by Vadra and his mother show that the "total share capital of these companies was just Rs 50 lakh".

    "In the last four years, Robert Vadra has gone on a property buying binge and has purchased at least 31 properties mostly in and around New Delhi, which even at the time of their purchase were worth several hundred crores (of rupees)," Bhushan alleged.

    "Robert Vadra acquired properties worth hundreds of crores (of rupees) from nothing. What is the source of these funds," asked Arvind Kejriwal. He distributed scanned copies of documentary evidence to back his claim.

    Kejriwal demanded the government to probe into the benefits Robert Vadra may have received in the corrupt property deals.

    Robert Vadra, who comes from a brass and wood handicraft merchant's family, is married to Sonia Gandhi and Rajiv Gandhi's daughter Priyanka Gandhi.

    Speculation was rife among political observers in the national capital about activist Arvind Kejriwal's announcement to 'expose' the corruption of a "powerful political leader" on Friday. Kejriwal had said on October 2 that his group would reveal sensational information against two political leaders on Saturday. However, the IAC changed its plans and held its press conference on Friday.

    Throwing in a flurry of questions Bhushan said, "Why did DLF give Rs 65 crore loan to Vadra without any interest? He bought DLF properties with that money at discounted rates ... What benefit did Vadra provide to the Congress party for this? He bought property worth Rs 65 crore for Rs 5 crore ... How did DLF benefit? There are many questions ... There are four penthouses in one DLF property in Gurgaon. He brought these through a maze of five companies. We have details of 12 companies registered in the past few years — six registered in 2012 alone. A penthouse was sold in 2009 for Rs 89 lakh whose market value was Rs 25 crore then, and is now at least Rs 40 crore ..."

    The second expose speculated to be against a Mumbai-based political figure is expected on October 10, according to the activists. Earlier this year Kejriwal-Bhushan duo had released documents against 15 Cabinet ministers including PM charging them of corruption. They had demanded that a special investigation team be set up to investigate the charges.

    The government, however, chose to ignore the demand despite a partially successful hunger strike by Kejriwal, Manish Sisodia and Gopal Rai at Jantar Mantar in July. The activists hope that through a series of "revelations" they will be ale to strengthen the ani-graft image of their unnamed party.

    Robert Vadra's wealth grew from Rs 50 lakh to over Rs 300 crore in three years, Kejriwal says - The Times of India
     
  2. Osiris

    Osiris Major SENIOR MEMBER

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  3. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    yea so what else is new :dude:
     
  4. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    EXCELLENT. Now lets's also reflect on the fact that Rob Varda comes from one of the most influential BJP FAMILIES of the country...
     
  5. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    how is that ?
     
  6. Osiris

    Osiris Major SENIOR MEMBER

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    thats a nice name .....and everybody know what happened to his family ....Robert's sister Michelle died in a car accident in April 2001. His brother Richard committed suicide in 2003. Robert Vadra's father, Rajendra Vadra, reportedly died of a heart attack in 2009 although some sources reported it as a suicide....

    so what ??your congress leader Madhavrao Scindia - Jyotiraditya Madhavrao Scindia came from a BJP family
     
    Last edited: Oct 6, 2012
  7. Osiris

    Osiris Major SENIOR MEMBER

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  8. DaRk KnIght

    DaRk KnIght Lt. Colonel ELITE MEMBER

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    He is under heavy influence of Gangman Style :troll:
     
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  9. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    300 Cr is just the tip of the Iceberg ...
     
  10. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    So family influence works if ur from congress or BJP right?
     
  11. Osiris

    Osiris Major SENIOR MEMBER

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    this news is an example of Gandhi family influence (congress)
     
  12. Osiris

    Osiris Major SENIOR MEMBER

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    What is the source of these funds?
    INDIA AGAINST CORRUPTION
    A-119, Kaushambi, Ghaziabad 201010, UP. Ph: 09868219486indiaagainstcorruption.2010@gmail.com
    - India Against Corruption


    New Delhi, Oct. 5, 2012

    Robert Vadra acquires properties worth hundreds of crores from nothing.
    What is the source of these funds?

    In the last 4 years, Robert Vadra has gone on a property buying binge and has purchased at least 31 properties mostly in and around New Delhi, which even at the time of their purchase were worth several hundred crores.

    An analysis of the balance sheets and audit reports of 5 companies set up by him (and owned exclusively by him and his mother) on or after 1/11/2007 show that the total share capital of these companies was just Rs 50 lakhs and these companies together had no income from any legitimate business activity (except by way of interest derived from interest free loans obtained from DLF). Yet during 2007-2010 they have acquired properties which were worth well over Rs 300 crores even at their time of acquisition and are worth more than Rs 500 crore as of today.

    The ostensible seed money for this acquisition is shown to have come from unsecured interest free loans from DLF Ltd (over 65 crore). The bulk of the properties are also purchased from DLF at a price which is shown far below the market price. Thus 7 flats in Magnolia apartments in DLF Gurgaon are purchased for a total of Rs 5.2 crores by Vadra̢۪s companies when the market price of each flat at the time of acquisition was well over 5 crore and today its price is between 10 to 15 crore rupees per flat. Similarly a 10,000 sq feet apartment in DLF Aralias (Gurgaon) is shown to be purchased for Rs 89 lakhs when its market price at the time of purchase in 2010 was 20 crore rupees and today is more than 30 crore rupees. Not just that, a stake of 50% share in DLF owned hotel in Saket (DLF Hilton Garden Inn) is shown to be purchased for Rs 32 crore when the market value was well over Rs 150 crore. The detail of these properties, their acquisitions are in the accompanying note which refers to
    the balance sheets and audit reports of these companies which have been obtained from ROC.

    This massive property buying spree by the son-in-law of the ruling dynasty in the country gives rise to several important questions:

    1. Why should DLF give large unsecured interest free loans to Robert Vadra?

    2. Why should DLF sell its properties to Vadra at throwaway prices and on the basis of funds obtained by Vadra from DLF itself?

    3. It is well known that DLF has been given 350 acres of land by Haryana govt for the
    development of Magnolia project in Gurgaon (where Vadra was allocated 7 apartments) and has been given various other properties and benefits by the Congress governments in Haryana and Delhi. Is that the quid pro quo for DLF giving Vadra the seed money for the purchase of these massive properties worth hundreds of crores?

    4. It is clear that there is a lot of unaccounted black money invested in these properties of Vadra. What is the source of these funds? Are illicit funds of the Congress party being funnelled into this property buying spree by the son-in-law of the dynasty?

    5. The above acquisition of properties is only what has come to light from the documents submitted to ROC itself, and maybe just the tip of the iceberg. Preliminary information indicates that there are many other properties purchased by him. It̢۪s significant that 6 new companies have also been registered by him in 2012.

    Prima facie the facts above show commission of offences under the prevention of corruption act as well offences under the Income Tax Act. Why are these ostensible offenses not being investigated?

    All these questions need to be answered by a thorough independent investigation. Question is will such an investigation be done and who will do it? Will it be done by agencies controlled by the Government and hence by the ruling dynasty?

    That is why one needs an independent Lokpal. Question is will it be conceded by those who risk going to jail as a result?

    Signed:
    Arvind Kejriwal
    Prashant Bhushan
     
  13. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    only think that politician want is to fill there coffers ... then he/she may be from congress, BJP or any other political party ...

    now a days Politician is = looter of public funds ...
     
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  14. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    This actually shows the difference between IAC and BJP and also the comments Advani has been making. He said that while the people are fed up with corruption but the BJP has not been able to capitalize it because the BJP itself is not clean. No matter what the shortfalls of IAC, they are clean so when they say something, people take them seriously. But the BJP's efforts to attack congress on corruption when Nitin gadakari is President (with one more term in the pipeline) and BSY and team doing beautiful things in karnataka makes them look like a joke.
     
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  15. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    No unsecured loans were given to Robert Vadra, DLF clarifies


    New Delhi: Real estate giant DLF has dismissed all allegations that it gifted Robert Vadra interest-free loans and sweetheart deals on a series of apartments in Gurgaon. The developer said its deals with Mr Vadra were totally transparent and that no quid pro quo was involved to help DLF get vast tranches of land in states like Delhi and Haryana where the Congress is in power. Mr Vadra is the son-in-law of Congress President Sonia Gandhi. (Read DLF's full statement here)

    Yesterday, activists-turned-politicians Arvind Kejriwal and Prashant Bhushan accused Mr Vadra and DLF of an illicit and mutually-beneficial relationship that rested on Mr Vadra's political connections.

    The activists, who launched an as-yet-unnamed political party earlier this week, said that DLF gave Mr Vadra an interest-free loan of Rs. 65 crores. The company says that in fact, it gave Mr Vadra's firm, Skylight Hospitality Pvt Ltd, an advance of 50 crores against a plot of land purchased from him in Sikohpur village in Gurgaon.
    The company said it gave him another advance of 15 crores for another plot in Faridabad, but that the deal fell through and Mr Vadra returned the money.

    The activists had said that Mr Vadra was given a flat in the Aralias project in Gurgaon for Rs. 89 lakh. The company says that he paid Rs. 11.90 crores for the apartment.

    It also said that the activists had incorrectly accused it of giving seven apartments in its Magnolias project for Rs. 5.2 crores to Skylight.
    DLF also stated that Mr Vadra was never shown preferential treatment as a customer via special under-valued rates. It said that to the contrary, because Mr Vadra decided to buy some apartments at an advanced stage of construction, he paid more than other buyers who came on board sooner.

    The activists' accusations against Mr Vadra have been derided by the Congress and snatched by the BJP to demand an investigation. Mrs Gandhi, sources said, has instructed her party leaders to staunchly defend her son-in-law. They have obliged. Law Minister Salman Khurshid has said "we will strategise...and see if something more needs to be done to teach them a lesson or two on what the law of the land is." Rajiv Shukla, another Congress senior, said "All businessmen take loans to build their business. Maybe Robert Vadra also did that. What is wrong with that? But there is nothing to prove any wrong-doing...no proof that the Congress helped out DLF."

    A report on Mr Vadra's close links to DLF was published by a newspaper last year, after which the BJP gave notice in Parliament that it wanted to discuss the issue. However, the party later withdrew its notice. When asked why it now wants an inquiry on the same matter, BJP leader Spokesperson Ravishankar Prasad said today that "BJP didn't press after this scam when it broke out first as 2G Spectrum issue was at its height... we had even given a notice in Parliament but our focus was on formation of JPC and our notice was not entertained."
     
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