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Exposed: Lalu's daughter bought land worth Rs 100 crore for just 1 crore

A complex web of shady transactions, revealed by Times Now, has exposed how family members of Rashtriya Janata Dal (RJD) chief Lalu Prasad purchased expensive property at throwaway rates by buying and selling shares in dubious front companies.Documents with Times Now show that Rajya Sabha member Misha Bharti, eldest daughter of Lalu Prasad, and her spouse Shailesh Kumar acquired a farmhouse at Bijwasan, near IGI airport, where many rich and influential own properties, for a mere Rs 1.41 crore. The couple also acquired a farmhouse at Sainik Farms after an intriguing transaction with the owner.As per Registrar of Companies records, Misha Bharti is listed as director of at least four private limited companies, along with Shailesh.One of the companies, Mishail Packers and Printers Pvt Ltd., was incorporated in December 2002 by the couple and registered at Lalu’s official bungalow at 25, Tuglak Road, New Delhi, which was allotted to RJD chief Lalu Prasad as a Rajya Sabha MP.As per its balance sheet, the company’s business activities stopped in 2006 and its plant and machinery were sold.In 2008-09, Mishail Packers purchased a farmhouse at 26 Palam Farms in Bijwasan for Rs 1.41 crore. Funds were arranged through sale of 1,20,000 shares of Rs 10 each in Mishail Packers, at a premium of Rs 90, to V K Jain and S K Jain, the entry operators who were arrested in March this year as part of crackdown on black money.The shares were purchased back within less than a year by Misha and her husband at Rs 1 or Rs 2 in 2009: a transaction which should raise suspicions of money laundering.A Times Now team, which went to the Palam Farms area in Bijwasan, found that construction on the property has not taken place yet. A part of the farmland was being used for agriculture activity. People at the farm confirmed that the property beOne of the companies, Mishail Packers and Printers Pvt Ltd., was incorporated in December 2002 by the couple and registered at Lalu’s official bungalow at 25, Tuglak Road, New Delhi, which was allotted to RJD chief Lalu Prasad as a Rajya Sabha MP. As per its balance sheet, the company’s business activities stopped in 2006 and its plant and machinery were sold.In 2008-09, Mishail Packers purchased a farmhouse at 26 Palam Farms in Bijwasan for Rs 1.41 crore. Funds were arranged through sale of 1,20,000 shares of Rs 10 each in Mishail Packers, at a premium of Rs 90, to V K Jain and S K Jain, the entry operators who were arrested in March this year as part of crackdown on black money.The shares were purchased back within less than a year by Misha and her husband at Rs 1 or Rs 2 in 2009: a transaction which should raise suspicions of money laundering. A Times Now team, which went to the Palam Farms area in Bijwasan, found that construction on the property has not taken place yet. A part of the farmland was being used for agriculture activity. People at the farm confirmed that the property belonged to Mishail Packers.The property, going by current commercial rates, should fetch anything between Rs 40-50 crore.In an effort to investigate the intriguing transaction between Jain brothers and the daughter and son-in-law of RJD strong man, Times Now tried to track the duo. The team visited the registered office of one of the companies of Virendra (Jain). After making inquiries, the team was directed to another address where Jain owns a business.But, going by the charges against them, the Jains could allegedly be using the businesses as a smokescreen. The real purpose of setting up of such dubious companies may have been to sell and buy shares to facilitate moneylaundering.Misha and Shailesh appear to have used another front company, KHK Holdings , to ‘buy’ the 2.8 acre farmhouse at H27/1 Sainik Farms. The company was was originally owned by Vivek Nagpal, a known figure in Delhi’s political and business circles, who, in 2014, transferred 10,000 shares to the couple at only Rs 1 lakh.KHK Holdings, under Nagpal, had acquired the Sainik Farms property. It also raised a loan of Rs 23.76 crore in 2010 from India Bulls Housing Finance Ltd. After Nagpal mysteriously sold his company to Misa and her husband, the property remained with the company.Security men deployed at the address confirmed that the house is now in possession of Misha who, along with her father, often comes visiting. The value of this property too is easily worth Rs 50 crore, if not more.On being asked to react, RJD spokesman Manoj Jha mailed the following statement: “What is the illegality involved therein? We are being subjected to a typical ‘supari journalism’ whose brief is to denigrate and delegitimise important voices and images of opposition. If the fourth estate looks for conspiracy and quid pro quo in an otherwise natural transactions, it tells you that all is not well.”When contacted, Nagpal said he has many companies and he doesn’t remember any transfers to Misha Bharti and would revert with more information.Misha and her husband now have assets worth around Rs 100 crore, all acquired at throwaway prices through questionable share transactions. Why Jain and Nagpal got into these deals is a matter of deeper probe, but there is enough to suspect is that the influence of Lalu Prasad, an influential figure in the UPA regime, may have been a big factor in Misha and her husband turning multi-millionaires.