A businessman and Congresswoman Sonia Gandhi’s son-in-law, Robert Vadra, was charged by the Enforcement Directorate (ED) in connection with a 2008 land sale in Gurugram that is currently the subject of a money laundering probe. The chargesheet, on this case, is the first against Vadra and accuses him under PMLA, wherein the chargesheet also included several other persons and corporate entities connected with the deal.
According to some sources associated with the investigation, Vadra’s two firms, Sky Light Hospitality Pvt Ltd (SLHPL) and Sky Light Realty Pvt Ltd (SLRPL), purchased a 3.53-acre land in Shikohpur in Gurugram for ₹7.5 crore when both firms had nominal bank balances of just ₹1 lakh each at that point in time. From the perspective of financial viability, it is significant to note that SLHPL did not make any payment in lieu of the land, rather it was SLRPL, which issued a cheque that never reached the clearance of the bank in any form.
Further investigations had shown that Omkareshwar Properties Pvt. Ltd. (OPPL) provided finances for stamp duty of ₹45 lakh along with all other necessary expenses. Six months after the sale, SLHPL transacted ₹15.38 crore to OPPL in two installments, an amount which was valued in the sale deed at half the price. This demonstrates a clear case of undervaluation, a subject that evokes stamp duty evasion and loss of revenue for the government.
The other shocking aspect revealed by the investigations is that there were procedural irregularities in the grant of government approvals. OPPL first sought a license for commercial development for the land, and it was rejected by Haryana’s Town and Country Planning Department. Next, SLHPL sought the same license and, within four days, found favor with none other than then Haryana Chief Minister Bhupinder Singh Hooda in granting approval.
A letter of intent to develop a commercial colony on 2.701 acres out of the total 3.53 acres was issued immediately thereafter without properly assessing SLHPL’s financial muscle. Investigating officials suspect that Vadra’s influence was a factor in the swift and seemingly preferential approval process.
The ED investigation into Vadra is multi-faceted and extends to separate matters including a money-laundering investigation linked to arms dealer Sanjay Bhandari and a land transaction in Bikaner, Rajasthan.
