DLF: Deals with Vadra transparent, ethical
October 07, 2012 00:10
Realty major DLF has rejected the allegations that it had given unsecured loans to Robert Vadra as a 'quid pro quo' for favours and said it had transparent dealing with him as an individual entrepreneur.
In a statement, the company said it had given Rs 65 crore as "business advances" out of which Rs 15 crore was fully refunded and Rs 50 crore was used for purchase of land.
Rejecting the allegations made by activists Arvind Kejriwal and Prashant Bhushan that the company favoured Vadra, DLF said it neither received any undue benefit from any state governments nor was it alloted any land by Delhi, Haryana and Rajasthan governments.
DLF also dismissed the charge that the company sold properties to Vadra and his companies at a throwaway price.
"We would like to state that the business relationship of DLF with Mr Robert Vadra or his companies has been in his capacity as an individual entrepreneur, on a completely transparent and at an arm's length basis," DLF said.
DLF said the business relationship with Vadra has been conducted in the highest standards of ethics.
"We wish to categorically state that the DLF has given no unsecured loans to Mr Vadra or any of his companies. An amount of Rs 65 crores was given as business advances for the purchase of land in two transactions," it added.
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