Mayawati’s Brother Under Income Tax Scanner For Making 18,000 Per Cent Profit In Seven Years

Swarajya Staff - 10 Jan, 2017, 9:22 am
Mayawati’s Brother Under Income Tax Scanner For Making 18,000 Per Cent Profit In Seven Years
Bahujan Samaj Party chief Mayawati and Anand Kumar. 

Anand Kumar, the brother of Bahujan Samaj Party (BSP) chief Mayawati, is under Income Tax scanner for having made profits up to 18,000 per cent in just seven years, The Financial Express reported on Tuesday (10 December).

Kumar, who maintains a low profile, saw his fortune fortunes grow exponentially between 2007 and 2014. For most of this time, his sister was chief minister of Uttar Pradesh.

According to a report by Times Now, which is in possession of income tax probe details, claimed that Kumar’s net worth rose from nearly Rs 7.5 crore to Rs 1,316 crore during this time. “TIMES NOW’s investigation has unearthed a web of companies run by Mayawati's brother with ghost investors, shell companies and sweetheart deals”, the channel said in its report. In this tweet, the channel gives some insight:

According to the channel, Kumar owns 12 big companies and also has a large number of ghost companies. One of these companies, named Dia Realtors Pvt Ltd, made 45257 per cent profit in just 7 years. In its report, the channel claims to have tracked down seven of Kumar’s ghost companies. Many of these companies operate from the same address and have the same set of people serving as directors.

This comes as a blow for BSP just months before Assembly election in the state. In December 2016, the party came under fire after Enforcement Directorate detected cash deposits totalling Rs 104 crore in an account belonging to the party and Rs 1.43 crore in an account belonging to Anand Kumar.

Also Read: Can SP Recover From Infighting And BSP From Demonetisation?

10 Jan, 2017, 9:22 am