ED probing cash deals worth Rs 760 cr involving Mayawati's brother: report
New Delhi, Jan 28: Seven companies controlled by former UP chief minister Mayawati's younger brother Anand Kumar carried out cash transactions worth some Rs 760 crore, and the sourceS of such large sums of money are pesently under the scanner of Enforcement Directorate, reports the Economic Times.
The report says, documents filed by Anand Kumar's companies with the Registrar of Companies (RoC) show that only one of the seven companies has a tangible business, and the rest were all set up after Mayawati became UP chief minister in 2007.
According to the ET report, the dealings highlight a pattern where political figures or those close to them float companies whose sources of income - in many cases, running into hundreds of crores of rupees - are unclear, prompting concerns about possible influence-peddling.
The same individuals are often linked to firms engaged in diverse businesses, raising questions about the genuineness of these companies, says the report.
Anand Kumar's oldest company is Hotel Library Club Private Ltd, which was incorporated in 1987 and which runs a budget hotel, the Shilton, in Mussoorie.
The company has a share capital of Rs 24 lakh and is wholly owned by Anand Kumar and his wife Vichitra Lata. In 2007-08, its income from the hotel business was Rs 25 lakh.
In 2011-12, it posted losses of Rs 80 lakh, but received Rs 152 crore from the sale of undisclosed investments.