Robert Vadra is an Indian businessman. He is the husband of Priyanka Vadra and a member of the Nehru-Gandhi family by marriage.
The Arvind Kejriwal-led India Against Corruption (IAC) unleashed its second round of attacks on the relationship between Robert Vadra, son-in-law of Sonia Gandhi, and DLF, India's largest listed real estate company, yesterday (9 October). So what has IAC alleged, and how much of it holds water? But we will give the bottomline first: how and what did Vadra gain? Business Standard estimates that Vadra's gains from all the sweetheart deals involving DLF could be in the vicinity of Rs 200 crore. And not much of it can be attributed to Vadra's business acumen. It was largely DLF's help that did it. Now, to answer the questions raised by IAC. First, what was Vadra doing owning a DLF subsidiary company? Northern India IT Parks Pvt Ltd is a company with an issued capital of Rs 25 lakh. The company has issued 2,50,000 shares with a face value of Rs 10 each.Robert Vadra owns 2,47,500 shares of the company. His mother Maureen owns the remaining 2,500 shares. This means Robert Vadra owns 99 percent of the company. Both Robert and his mother Maureen were appointed as directors of the company on 19 June 2008. The balance-sheet of the company as on 31 March 2009 shows an investment of Rs 2,50,000. This investment was made to buy a 50 percent stake in DLF SEZ Ltd on 13 October 2008. This investment does not appear on the balance-sheet of the company as on 31 March 2010. DLF bought back the stake from the Vadra-owned Northern India IT Parks in September 2009. In its statement released to the press, IAC had asked what role Vadra played in the period of almost one year during which DLF SEZ was in his control.
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