The elections to Uttar Pradesh are due from next month and all the skeletons seem to be tumbling out of closets belonging to parties local to the state. A report in The Economic Times mentions that BSP supremo Mayawati’s brother Anand Kumar is in the cross-hairs of the Income Tax Department.
The newspaper says that its sister concern Times Now is in possession of documents from the IT authorities that show that Kumar’s net-worth rose exponentially during his sister’s tenure as Chief Minister of Uttar Pradesh.
During the seven-year period between 2007 and 2014, Kumar’s fortunes reportedly climbed up from Rs 7.5 crore to Rs 1,316 crore which would give him a whopping 17,446 percentage increase on his earlier assets in that period.
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The documents reportedly reveal a trail of round-tripped money across shell companies, curious multi-crore loans and high investments in the real-estate sector.
Kumar is said to be a major share-holder in one Aakriti Private Hotels Limited, a company where some of the share-holders are said to exist on paper and three investing companies have the same set of directors and all work out of the same imaginary office in Kolkata.
The report adds that close to seven companies of the kind exist across the country, and again, only on paper.
