Shares of DLF, the country's biggest property developer, continued their decline after anti corruption activists Arvind Kejriwal and Prashant Bhushan, late last week accused DLF of arranging favourable loans and real estate transactions for Robert Vadra - the son-in-law of Congress Party chief Sonia Gandhi, reports said.
Kejriwal, on Tuesday, demanded a probe by retired Supreme Court judges into the business relationship between Robert Vadra and DLF and a white paper by Haryana government on the benefits it allegedly gave to the realty major.
The real estate major had denied the allegations.
“We stand by our earlier statement and wish to once again specifically state that DLF has neither sought nor enjoyed any special favours from the Government of Haryana and all developments of DLF undertaken over the last four decades are strictly in compliance with all applicable laws, rules and regulations with an adherence to the highest ethical standards,” DLF said.
India Against Corruption, in a press conference addressed by Kejriwal and Bhushan last week, alleged that Vadra acquired properties worth hundreds of crores of rupees from nothing, and questioned the source of these funds.
"In the last 4 years, Robert Vadra has gone on a property buying binge and has purchased at least 31 properties mostly in and around New Delhi, which even at the time of their purchase were worth several hundred crores. An analysis of the balance sheets and audit reports of five companies set up by him (and owned exclusively by him and his mother) on or after November 1, 2007, show that the total share capital of these companies was just Rs.50 lakh and these companies together had no income from any legitimate business activity (except by way of interest derived from interest free loans obtained from DLF)," an IAC press statement said.
Reports said earlier that Vadra called the accusations "utterly false, entirely baseless and defamatory."
Shares of DLF ended at Rs.213 down 5% over the previous close. It had touched a day’s high of Rs.219.60 and a day’s low of Rs.211.55. The total traded quantity of the shares stood at 16.34 lakh shares on the BSE.
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