Lalit Modi paid crores to Raje's son, claims lawyer

June 17, 2015 15:38

Poonam Chand Bhandari, an advocate, has claimed that former IPL chief Lalit Modi transferred crores of rupees to Rajasthan Chief Minister Vasundhara Raje's son Dushyant Singh using a fictitious company.

"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 Rs 1 lakh, the price of the share was Rs 10 (per share). Lalit Modi opened a company called Ananda Hotel Private Limited, he gave Rs 3 crore 80 lakhs unsecured loan to Nihant Hotel," Bhandari told ANI.

"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," he added.

Bhandari further said that buying the shares at such inflated prices clearly indicate that black money is being transferred from one company to the other.

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