Mayawati
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Family
Brother’s assets grow to Rs 1,300 crore in nine years
BSP chief Mayawati's brother Anand Kumar began as a businessman with approximately Rs 7cr in cash. In just about nine years, Anand Kumar's assets sky-rocketed to Rs 1,300 crore, the income tax department investigations have so far revealed.
Times Now is in possession of the I-T probe details that disclose the pattern in which the companies floated by Anand Kumar used to make money: sell equity shares of the company at a premium to various holding companies.
Investigations by Times Now showed that several of these companies were registered at dubious addresses with their promoters untraceable. Now, a stunning link between Anand Kumar and two other politicians under investigation has been uncovered.
The company named Hingora Finvest Pvt Ltd holds 3,000 shares or 0.8% of Aakriti Hotels Pvt Ltd, in which Anand Kumar happens to be a key player through 65,000 debentures held by his promoted companies.
Interestingly , Hingora Finvest features as a shareholder in companies linked to jailed NCP politician Chhagan Bhujbal. Hingora Finvest holds 27,000 shares of Pravesh Constructions Ltd -a company floated by Sameer Bhujbal. The registered address of Hingora Finvest is a residential complex in Bhayander in Mumbai. When Times Now reporters visited the address, a lady acknowledged knowing one of the named directors of the company , but didn't know about the company itself.
Two other companies, Bhaskar Fund Management and Delton Exim Pvt Ltd, too, hold equity shares in Aakriti Hotels Pvt Ltd. These companies are registered at an address in Maheshtala, Kolkata.A visit to the location bore no result, with residents saying they had never heard of the company .
Deeper scrutiny exposed that the two firms had come under the scanner for holding large equity shareholding in Jagati Publications -a company owned by YSR Congress chief Jaganmohan Reddy . Revelations lead to the conclusion that these politicians were using these shell companies to allegedly round-trip cash and bifurcate the tax system.
