TIMES NOW has accessed a number of documents that link Anand Kumar, who is the brother of Bahujan Samaj Party supremo Mayawati, to a string of dubious transactions.
TIMES NOW’s investigation has unearthed a web of companies run by Mayawati’s brother with ghost investors, shell companies and sweetheart deals.
Mayawati’s brother has managed to grow exponentially in 7 years from 2007 to 2014. During that period, Anand Kumar’s net worth increased from around ₹7.1 crore in 2007 to ₹1316 crore in 2014, a rise of nearly 18,700 percent. Mayawati was the Chief Minister of Uttar Pradesh from 2007 to 2012. TIMES NOW has accessed details of shareholding pattern of Aakriti Hotel Pvt Ltd a company in which Anand Kumar holds 65,000 debentures through two other firms owned by him. Aakriti is a company that sells equity shares to several companies. Shares were sold to other companies at a premium of ₹1,790 per share.
Documents accessed by TIMES NOW reveal that Aakriti Hotels has close to 37 shareholders but not all of them are legitimate businesses – some of the firms listed as their shareholders are shell companies which only exist on paper.
Most of these companies that held financial transactions with Anand Kumar’s company recorded monumental growth.
TIMES NOW tracked down seven such companies spread across India and discovered one common truth. All of them existed only on paper, a common modus operandi for round tripping money.
The money trail is being investigated as part of a suspected political fund laundering racket by the Income Tax department.