Lalu’s ‘benami’ property seized by Income Tax dept

The seizure of one double-storey building in a posh locality in Patna near the airport by the Income Tax department has once again brought to fore the “benami” assets allegedly belonging to RJD chief Lalu Prasad and his family. After the seizure, Deputy CM Sushil Kumar Modi on Saturday showed official documents proving that the property belonged to a shell company Fair Grow of which Lalu’s kin were directors.

Lalu’s both sons Tejashwi Prasad Yadav, Tej Pratap Yadav and daughter Chanda Yadav were named as the directors of Fair Grow Holding Pvt Ltd from July 19, 2014.

“It is proved that Fair Grow is a shell company and its address in Kolkata, names and address of its shareholders, all in Kolkata, were false and five companies as its shareholders were also fake,” said Modi while dishing out the documents which bore signature of former Deputy CM Tejashwi.

The I-T seized the double story building built on 7105 sq ft on 5, Riding Road which is estimated to be worth Rs 3.67 crore. “In June last year we had disclosed that Fair Grow was sixth shell company of Lalu family through which several expensive lands and houses were purchased in Patna. The I-T was also looking for this particular land for over one year which was reportedly purchased for Rs 78.32 lakh by the shell company.

Modi asked Tejashwi to disclose who made him director of a fake and closed company and why he agreed to join it. When there had been no annual general meeting of the company who appointed Tejashwi its director. He also wanted to know from where this shell company got the money to purchase assets in Patna and who were the people who invested their black money in a fake company.

Modi asked who the real owner of this land and house was and when this was property changed hands. He also pointed out an interesting fact that a palatial house, which he said was one of the most exquisite houses in Patna, belonging to Dr R K Rana also situated just behind the seized building. Rana, once close aide of Lalu, is a former employee of veterinary college and accused and convicted in fodder scam currently serving jail term. The property is question is located in Sheikhpura very close to Jai Prakash International Airport and Bihar Veterinary College.

Interestingly, the Lalu’s kin were appointed directors of this shell company in the mid of 2014 when some political churning was going on and Lalu was all set to have alliance with Nitish Kumar.

Tejashwi, who gives statements or tweets on all the issues has not reacted on this development. However, in retaliation to the charges of Modi, the leader of opposition accused the Deputy CM of amassing unaccounted wealth and his brother raised a real estate company worth Rs 10,000 crore after he become deputy CM. He alleged that a number of his family members were involved in money laundering.