At last, the buck seems to stop somewhere!

Abhimanyu
ALREADY trashed as the most corrupt government in the history of independent India, the  stink has now reached the top in the Sonia Gandhi-led Congress party.  It’s the Gandhi  dynasty, which is in the firing line.
Anti-graft crusader turned politician, Arvind Kejriwal has now accused Robert Vadra, the  son-in-law of  the Congress president and UPA chairperson of illegal transactions and  malafide nexus between him and the construction major, DLF.
It was alleged that DLF had gifted Vadra a Rs 65-crore interest-free loan and sweetheart  deals on a series of apartments in Gurgaon. The allegations also hinted that following their nexus with Vadra, the Congress-led Haryana government had extended favours to  the  construction major.
Even as Vadra, DLF and Haryana government have denied any wrongdoing the allegations there  remains some unanswered questions about the entire nexus.
Reacting to Kejriwal’s allegations, DLF said that Vadra’s company Sky Light Hospitality  Pvt Ltd sold off its land at Manesar to the company for Rs 58 crore and Rs 50 crore was  paid as advance. Sky Light Hospitality Pvt Ltd had acquired the land a year ago in 2011  for Rs 15.38 crore.
However, questions which remain unanswered is how did the cost of the land escalate by  almost 400 per cent in just a  year?  Media reports have questioned about discrepancies in  Vadra’s balance sheet.  Despite a payment of Rs 50 crore in advance for the land, why do  Vadra’s balance sheets in March 2011 show both cash and land still in his company’s  name? And why didn’t Vadra’s balance sheet reflect the Rs 50 crore advance for two  years?
In another deal, DLF said Vadra paid Rs 11.9 crore for an apartment in Aralia. But why  does his balance sheet show Rs 89.41 lakh as the purchase price, which a year later is  valued at over Rs 11 crore?
DLF said that the company bought back Vadra’s stake in SEZ at the same value at which  it was sold. But the question arises as why in falling market it DLF buy back Vadra’s  stake at the same price. Another suspicion about the deal is if Vadra became a 50 per cent  shareholder of DLF SEZ in October 2008, why did he exit the business a year later  without any loss or gain? Another controversial point is what was Vadra’s  influence in the market that made DLF invest so heavily in all his companies, also giving  crores as advance.
Kejriwal alleged that the Haryana government had given undue benefits to DLF. He said  that the Punjab and Haryana High Court had pointed at a “malafide nexus” between the  two. Refuting the charges, the Haryana government clarified saying: “All permissions have been  given according to rules. No land has been released in the last 10 years. No favour has  been granted to the DLF.”
The India Against Corruption (IAC) member also alleged that the Haryana government  had allotted over three-acre of land meant for hospital to DLF to set up a Special  Economic Zone (SEZ). He went on to say that Vadra was given as much as 50 per cent of  stake in DLF’s SEZ company after one year.
“DLF SEZ Holdings Pvt Ltd was incorporated in 2.2.2007. Next year on 13.10.2008, M/s  North India IT Parks Pvt Ltd (Robert Vadra group company) acquired almost 50 per cent  of its shareholding. However, in subsequent year in 2009, this was sold back to DLF  group. What role did he play in that one year when DLF SEZ was in Mr Vadra’s control,”  alleged Kejriwal.
He further alleged that the Haryana government manipulated the bidding process saying  the bids given by Unitech and Country Heights were not opened. Kejriwal also said that  forest land was also given to the construction major by the state government.
Kejriwal said the amount of unsecured loan given by DLF to Vadra, which he had earlier  claimed to be Rs 65 crore, was actually Rs 85 crore. The activist-turned-politician added  that he was constantly getting letters and proofs from several people after his previous  press conference.
In a statement, DLF said, “In the DLF SEZ Holdings Pvt Ltd, 50 per cent of shareholding  was acquired by M/s North India IT Parks Pvt Ltd at the face value of Rs 2.50 lakh in  October 2008. It was subsequently bought back in September 2009 fully at face value, as  the proposal for developing SEZs could not take off due to deep recession. No benefit or  gain was made by Mr Vadra or DLF, in this regard.”
Ordered by Sonia Gandhi, the entire Congress Party and the Congress ministers have   joined hands to refute the charges. Finance Minister, P Chidambaram moved in swiftly to  give a clean chit to Vadra by saying, “no probe is required into the allegations”. And it  is obvious that the government of the day is in no mood to order a SIT probe into the  allegations.  And as for the questions raised by the national media time and again, mum is  the word from mom-in-law.