Recently Ashok Khemka,an IAS officer,submitted a report to the Haryana govt regarding illegal land deals in the state.His report contains explosive revealations supported by strong facts,which completely exposes Vadra-govt nexus in cornering prime land at throwaway rates.All parties to the deal working in unison for mutual benefit.
Khemka's conclusions in Vadra-DLF land deal are:
1.Illegal purchase of land in Shikohpur,Gurgaon by Vadra's company,Skylight hospitality in Feb,2008.
2.Sale deed records that Vadra bought the land from Onkareshwar properties through a cheque of Rs 7.5 crores from Corporation bank which is bogus transaction since Skylight's balance sheet had on Rs 10 lakhs as paid up capital.
3.Reference is also made to Corporation bank's clarification that no such overdraft was extended by them & the Rs 7.5 crores was simply a book entry in Skylight's balance sheets.
4.Actual payment to Onkareshwar is done 6 months later.By then Vadra had sold the land to DLF & had money in his bank.This makes the sale illegal because no money changed hands at the time of registery,nullifying Vadra-Onkareshwar deal.
5.By registering a cheque which they never intended to cash,Khemka concludes,Vadra & Onkareshwar effectively lied before a public servant which is punishable with jail sentence of 7 years.
There are two opinions on the legality issue:
1.Vadra's supporters say that sale amounts to purchase & transfer of property & payment can be made/received in the future.Since payments were made 6 months later,the seller got his consideration therefore,the transaction was legally & effectively closed.So this becomes a non issue!
2.Those opposing Vadra suggest this entire land deal to be a classic benaami deal where Vadra was simply a front for the real beneficiary,DLF which paid the consideration for the deal between Vadra's company,Skylight,&, Onkareshwar properties after 6 months,immediately after which Vadra entered into back to back agreement with it for resale at Rs 58 crores.Vadra was simply engaged to influence Haryana govt to grant land use permission for colonization process.
Everybody is entitled to an opinion but his supporters are countered by a clear pattern emerging out of his other land deals which ominously resemble this deal.
Khemka's conclusions in Vadra-DLF land deal are:
1.Illegal purchase of land in Shikohpur,Gurgaon by Vadra's company,Skylight hospitality in Feb,2008.
2.Sale deed records that Vadra bought the land from Onkareshwar properties through a cheque of Rs 7.5 crores from Corporation bank which is bogus transaction since Skylight's balance sheet had on Rs 10 lakhs as paid up capital.
3.Reference is also made to Corporation bank's clarification that no such overdraft was extended by them & the Rs 7.5 crores was simply a book entry in Skylight's balance sheets.
4.Actual payment to Onkareshwar is done 6 months later.By then Vadra had sold the land to DLF & had money in his bank.This makes the sale illegal because no money changed hands at the time of registery,nullifying Vadra-Onkareshwar deal.
5.By registering a cheque which they never intended to cash,Khemka concludes,Vadra & Onkareshwar effectively lied before a public servant which is punishable with jail sentence of 7 years.
There are two opinions on the legality issue:
1.Vadra's supporters say that sale amounts to purchase & transfer of property & payment can be made/received in the future.Since payments were made 6 months later,the seller got his consideration therefore,the transaction was legally & effectively closed.So this becomes a non issue!
2.Those opposing Vadra suggest this entire land deal to be a classic benaami deal where Vadra was simply a front for the real beneficiary,DLF which paid the consideration for the deal between Vadra's company,Skylight,&, Onkareshwar properties after 6 months,immediately after which Vadra entered into back to back agreement with it for resale at Rs 58 crores.Vadra was simply engaged to influence Haryana govt to grant land use permission for colonization process.
Everybody is entitled to an opinion but his supporters are countered by a clear pattern emerging out of his other land deals which ominously resemble this deal.
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