IRCTC hotel scam: Firm gave shares to Yadav family

New Delhi: Investigation by the Enforcement Directorate (ED) in the IRCTC hotel scam involving RJD chief Lalu Prasad Yadav has revealed that majority of the shares belonging to Delight Marketing Company Ltd — now known as Lara Projects — allegedly transferred to Tejashwi Yadav and his other family members.

The case pertains to allegations that Lalu Yadav, as railway minister, handed over the maintenance of two hotels run by the Indian Railway Catering and Tourism Corporation, a subsidiary of the Indian Railways, in Ranchi and Puri to Sujata Hotel, a company owned by Vinay and Vijay Kochhar, in return of a prime plot of three acres in Patna through a benami company.

“Lalu became the railway minister in May 2004. He allegedly entered into a criminal conspiracy with Sujata Hotel Private Limited directors Vijay Kochar and Vinay Kochar, and Sarla Gupta, the wife of his close aide Prem Chand Gupta. On February 25, 2005, the Kochars sold a commercial property measuring of three acres to Delight Marketing Company Pvt Ltd for Rs 1.47 crore, an amount much lower than the circle or market rate of Rs 1.93 crore. Sarla Gupta was the director of Delight Marketing, an alleged shell company. The commercial plot was also allegedly shown as agricultural land to evade stamp duty,” sources said.

“As a quid pro quo, Lalu dishonestly and fraudulently awarded the contract to them for the two hotels. After the tender was awarded to Sujata Hotel, the ownership of Delight Marketing also changed hands from Sarla Gupta to Rabri Devi and Tejashwi Yadav between 2010 and 2014 through transferring of shares,” sources said. The ED will soon seek fresh clarifications from Rabri Devi.

The CBI, which is also investigating the matter, had earlier registered the case against Lalu, his wife Rabri Devi, a former Bihar chief minister, son Tejashwi and Sarla Gupta, wife of Prem Chand Gupta, a former Union minister.

Others named as accused in the FIR include Vijay Kochhar, Vinay Kochhar, both directors of Sujata Hotels and owner of Chanakya Hotel, Delight Marketing Company, now known as Lara Projects, and then IRCTC managing director P.K. Goel.