umar floated 49 companies after Mayawati came to power in 2007 through which he made cash transactions of nearly Rs 760 crore with realty giants Jaypee, Unitech, DLF, among others.

Post the murky RobertVadra-DLF land deals, the nexus between politicians and builders is once again making headlines. This time around it's the real estate empire of Mayawati's brother Anand Kumar, which expanded from one to 50 companies across the time Mayawati was in power in UP.

The Indian Express has exposed questionable financial transactions worth several hundred crores by companies owned by Kumar with several builders in Noida and Greater Noida ( Read the full report here).

According to theIndian Express report, Kumar floated 49 companies after Mayawati came to power in 2007 through which he made cash transactions of nearly Rs 760 crore with realty giants Jaypee, Unitech, DLF, among others. However, most of his companies remained inactive with little equity, income or profit, but raised money by issuing shares on huge premium, selling undisclosed investments and seizing advance payment made by third parties. Only one company which was set up before Mayawati came to power -Hotel Library Club Private Limited, which was incorporated in 1987 and runs a budget hotel, the Shilton, in Mussoori- has a tangible business.

AnEconomic Times report points out that this very company with a share capital of Rs 24 lakh received cash amounting to Rs 346 crore over the last five years despite posting losses of Rs 80 lakh in 2011-2012. While documents filed with the Registrar of Companies revealed that the cash is from the sale of undisclosed investments it provides no details on who these investments were sold to.

There are several unexplained cash induction into Kumar's other companies with one subsidiary reported to have followed a copy book practice of receiving advances for unspecified services from third parties.

What's even more intriguing is the fact that Anand Kumar was a clerk with Noida Authority but after Mayawati came to power, he made money overnight.

And such murky transactions have raised concerns over whether these companies were created for the sole purpose of being receptacles for tainted money.

While both Mayawati and her brother have denied all allegations, the enforcement directorate is currently probing the sources of such large sums of money.

The BJP meanwhile has alleged that money earned through corruption has been invested in the companies and demanded a detailed inquiry into the allegations.