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Lalu's Daughter Converts Black Money Into White
By: Tupaki Desk | 24 Dec 2017 6:14 AM GMT
The Enforcement Directorate filed a charge sheet against RJD chief Lalu Prasad Yadav's daughter Misa Bharti and her husband Shailesh Kumar and their firm Mishail Packers & Printers for alleged money laundering using shell companies.
Serious Fraud Investigation Office found out Surendra Jain and Virendra Jain had been operating shell companies to convert black money into white. Jain Brothers accepted share from beneficiaries for accepting unaccounted money and converting it into white. Mishail Packers and Printers was one of the beneficiaries.
In 2007-08 and 2008-09, 1.2 lakh shares of Mishail Packers and Printers were bought by four shell companies at a price of Rs 100 per unit. Actually, Misa Bharti purchased those shares for just Rs 12 per unit.
Chartered Accountant Rajesh Agarwal, a mediator, offered Rs 90 lakh in cash to Jain Brothers to invest in Mishail Packers and Printers. Another Mediator had given Rs 30 lakh to the shell company managed by Santosh Shah. In that way, Rs 1.2 crore was laundered by the accused.
Serious Fraud Investigation Office found out Surendra Jain and Virendra Jain had been operating shell companies to convert black money into white. Jain Brothers accepted share from beneficiaries for accepting unaccounted money and converting it into white. Mishail Packers and Printers was one of the beneficiaries.
In 2007-08 and 2008-09, 1.2 lakh shares of Mishail Packers and Printers were bought by four shell companies at a price of Rs 100 per unit. Actually, Misa Bharti purchased those shares for just Rs 12 per unit.
Chartered Accountant Rajesh Agarwal, a mediator, offered Rs 90 lakh in cash to Jain Brothers to invest in Mishail Packers and Printers. Another Mediator had given Rs 30 lakh to the shell company managed by Santosh Shah. In that way, Rs 1.2 crore was laundered by the accused.
