Probe into Lalit Modi-Dushyant Singh’s transactions to continue: Jaitley


Finance minister Arun Jaitley on Tuesday said assessing authorities in India would continue to do their job with regard to the probe into the over Rs 11 crore transaction between Dushyant Singh and Lalit Modi while asserting that his remarks on this issue were misinterpreted.

“I have never used such a word. That is never part of my domain,” Jaitley told reporters when asked about opposition’s allegations that his remarks that the loan given to Singh by Modi, the former IPL chief, was a commercial transaction, amounted to giving clean chit to the BJP MP.

“That is clear misinterpretation of (what I said). Whatever various assessing authorities in India have to do, its their job. They would continue to do that,” Jaitley said on the sidelines of a public event at the Stanford University.

Advocate Poonam Chand Bhandari had earlier claimed that former IPL chief Lalit Modi transferred crores of rupees to Rajasthan Chief Minister Vasundhara Raje’s son Dushyant Singh by using a fictitious company.

In a report by a news agency, Bhandari was quoted as saying, “Vasundhara Raje’s son Dushyant Singh and his wife Nihalika created a firm by the name Nihant Heritage Hotel Ltd. Rs 10 lakh was the official capital and they invested one lakh rupees, the price of the share was Rs. 10 (per share). Lalit Modi opened a company called Ananda Hotel Private Limited, he gave Rs three crore eighty lakhs unsecured loan to Nihant Hotel”.

“After that, he bought shares costing Rs 10 at Rs. 96, 190 (per share). It means that he diverted almost nine crore rupees plus three crore eighty lakh rupees of black money. These companies are fictitious, you won’t find them at the registered addresses,” Bhandari added.

Bhandari also stated that buying the shares at such inflated prices clearly show that black money was being transferred from one company to the other.
“These companies do not have any business, you won’t even find these companies; there is no profit or loss. Buying a Rs. 10 share at Rs. 96, 190 clearly indicates that black money is being transferred using these companies.I had informed this to the ED and they had said that they would investigate and take the matter to a logical conclusion,” he said.

Documents released by Lalit Modi’s lawyer show that Vasundhara Raje supported Lalit Modi’s immigration application to the UK in 2011. According to reports, Raje was a secret witness in Modi’s immigration documents.




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