CAG Robert Vadra made Rs 44 crore gain in Haryana land deal

CAG Robert Vadra made Rs 44 crore gain in Haryana land deal

The comptroller and auditor general in its first draft report regarding Robert Vadra's land deals in Haryana said that he reaped nearly Rs 44 crore in windfall gains because an indulgent Congress government allowed him to do so in breach of law, and did not insist on recovering Rs 41.51 crore of the profit he made by quickly selling the land to DLF Universal.

In its first draft report on land deals in Haryana under the Bhupinder Singh Hooda government, the CAG said that Vadra's Skylight Hospitality Private Limited was allowed to develop a commercial colony when it had just Rs 1 lakh in its kitty.
"The department (of town and country planning) ignored the aspect of the financial capacity of the colonizer,"

The land was soon sold to DLF Universal for Rs 58 crore, with Skylight Hospitality making a neat profit of Rs 43.66 crore.

The CAG draft report underlines that the bilateral agreement between the state government and Skylight Hospitality required Vadra's company to retain only Rs 2.15 crore, and pass on the rest to the government account.

Since Vadra's company had altogether spent Rs 14.3 crore — Rs 7.5 crore towards land purchase and another Rs 6.84 crore on security and licence fees and conversion charges — the draft report says the Hooda government should have realized Rs 41.5 crore from Congress chief Sonia Gandhi's son-in-law Robert Vadra
the developer was required to retain a profit of Rs 2.15 crore after developing the project but in this  case the firm earned a profit of Rs 43.66 crore by selling this licence to DLF but had not deposited the profit i.e. Rs 41.51 crore in the government account," the draft report mentions.

TOI reported that in the last week of December, 2013, CAG Shashi Kant Sharma is believed to have asked the state principal auditor general to carry out a detailed performance audit that covers all developers who were granted licences by the Hooda government.

Reality views by sm –

Sunday, November 02, 2014

Tags – CAG Robert Vadra Land Deal Scam