Finance Minister Arun Jaitley, who is on a nine-day visit to the US, chose not to be much vocal with the media about the ongoing Lalit Modi-Sushma Swaraj-Vasundhara Raje controversy but said that the former IPL chief’s Rs 11 crore transaction with BJP leader and son of Rajasthan CM Vasundhara Raje, Dushyant Singh was a “commercial” one.
“I do not want to comment on him (Modi), but it’s a commercial transaction between two individuals,” Jaitley said at a press conference here yesterday in response to a question.
The Minister was asked: “What is the government doing on the transaction of Rs 11 crore between Lalit Modi and Dushyant Singh?”
Jaitley’s response to the query was: “How the government could be concerned with a several year old loan transaction between… Which is a commercial loan transaction by check with all banking approvals in a declared loan transaction.”
Singh, son of Rajasthan Chief Minister Vasundhara Raje, has been under attack over media reports that his company received Rs 11.63 crore in investments from Modi in 2008.
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.