Vasundhara Raje was Lalit Modi’s business partner: Congress

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Congress party has come all guns blazing against the Rajasthan chief minister Vasundhra Raje Scindia. The party on Friday released a copy of Raje’s election affidavit which appears to suggest that Raje owned 3280 shares in Niyant Heritage Hotels jointly owned by Lalit Modi and her son Dushyant Singh.

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If this revelation is true, then it would mean that Raje directly benefited from Lalit Modi’s investment of Rs 13 crore in the firm owned by her son.

Earlier reporters had suggested that Dushyant Singh and his wife Nihalika created a firm by the name Nihant Heritage Hotel Ltd. Rs 10 lakh was the paid capital of this company and they invested one lakh rupees with the price of the share being Rs. 10 (per share). Lalit Modi opened a company called Ananda Hotel Private Limited and allegedly gave Rs 3 crore eighty lakhs unsecured loan to Nihant Hotel. Modi had allegedly bought thte Rs 10 share for Rs 96000 each.

Raje in her defence had justified that the value of the company was calculated because it also included family’s assets, including its ancestral palace worth more than Rs.300 crore. However, Singh’s tax returns filed in 2013 didn’t include the family palace as an asset belonging to him.

 

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