Full text of the press statement put out by India Against Corruption activists
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 Vadra’s 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:
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?
Press Release - English
<p> The person who knows accountancy, and I did not have Mr. Kejriwal in mind, is asking questions like, if petrol costs less in Delhi, then why did you buy petrol at such a dear price. All I want to ask is, why is the common man feeling bad, that other people are corrupt? I don't really feel bad at all, and then I hear of corruption allegations. I am not referring to Mr. Vadra, either. The innocent student of accountancy, does not hear from his employers, that he is corrupt, being paid by them. The practitioner of accountancy, is also forever a student, I assume of the discipline. The point is, I can learn accountancy, and tell anyone, I find discrepancies, but not in the accounts. Do we know, that the farmer did not get any price for produce, and there was no allegation against any vendor, because he was selling onions at a price, much higher than what the farmer was getting? Onions? The public bought the onions. I can learn and practice accountancy, and anyone can, in India, any way he wants to. </p>
Kejriwal's main aim remains to create a tamasha. He appears to have no morals. He attacked PM then followed by 15 ministers; then a lot others and he failed in all since no one is serious about him and every one knows that he is creating a tamasha. even Anna is withdrawn from him. Such rumourmonger must be dealt with firmly. They do not bother whether this affects the nation adversely or not; they have their selfish ends to please theior bosses; the BJP.
>>>>"Despots" to create these "tamashas" to gain media attention, and hold the development of India to ransom. Shame on both of you"........Kel Shorey
Mr. Shorey, please apply your formidable intellect to the kletocracy that is looting India and enlighten us about who is holding the development of India to ransom. Why are millions of children severely malnourished in a country that has so much wealth? How can people earn thousands of crores in a country where an average person is expected to live comfortably on Rs 32 a day? How can a person with little intelligence and skills make so much money when the brightest and the best hardly earn a couple of crores over a lifetime of hard, honest work and integrity?
Am I asking too much from you?
PS: Mr Shorey, do you know what a despot means? Please look it up in a dictionary and enlighten us as to who in India can lay a credible claim on such a label.
Mr. Bhushan - Could you please let us know: How many properties you and your relations hold? What are their values? How much stamp duty did you pay for each? Because you are one of the the most corrupt person in the Indian legal profession.
You and Kejriwal are "Despots" to create these "tamashas" to gain media attention, and hold the development of India to ransom.
Shame on both of you!
The Congress spokespersons have vehemently denied any wrong doing on the part of Robert Vadra and say that there is no quid pro quo whatsoever.
I have a simple question for the Congress spokespersons: If Jagan Reddy can be arrested, why not Robert Vadra?
When his dad was in power, Jagan made billions in a similar manner; everything was above board, ostensibly, no rules were broken. In return for land and other favours, the beneficiaries invested millions in companies floated by Jagan. The ED has recently confiscated Rs 51 crore worth of properties belonging to Jagan.
Is Robert Vadra exempt from applications of the laws of the land the same way he is exempt from frisking at airports?
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