Loopholes in laws come handy to political class to turn crorepati

Loopholes in laws come handy to political class to turn crorepati
Loopholes in laws come handy to political class to turn crorepati

Patna:  Former Bihar chief minister Lalu Prasad Yadav heads one of the richest family in the state. It is difficult for many who know him as a poor milkman’s son to believe. But they can disbelieve it only when they shut their eyes and ears and see no truth and hear no truth.

     The land in the city on which the largest mall in the state is coming up is not the only property his family owns. It has also got property in one of Delhi’s poshest colony , Friends’ colony, in the southern part of the union capital.
    It is a new disclosure which has been made. Lalu, however, claims that these properties were acquired through legal processes and are open to scrutiny.
 He is party correct, as some legal eagles point out. There are enough holes in the country’s company and other laws for him and others of his ilk to pass through .
There are several shell companies  and proxy firms in the country  . These  companies purchase properties, change share holders and directors and make them their owners gradually. Lalu and his family members seem to have used the same route to acquire these properties.
The mall land was purchased by a little known firm in 2008 when Lalu was Union Railway minister. Later, his two sons and a daughter were made directors of the firm and the land was sold ,for a song , to them on which the mall is being constructed in partnership with a  party MLA.
The  same method was used in purchase of property in Delhi, as per the paper made available by Sushil Modi, a leader of the Bharatiya Janata Party.
An apparent shell company purchased  a piece of land in Friends’ colony and later transferred the property to Tejashwi Yadav, his second son, and deputy chief  minister in Bihar. The property  purchased at Rs five crores is valued at Rs 40 crores now.
All these properties have got no mention in the affidavits filed to Election Commission by Tejashwi and his siblings which is mandatory for seeking elections, according to official sources.


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