Kripashankar Singh’s son Narendramohan Singh received Rs.4.5 Crore from Balwa Company

Kripashankar Singh’s son Narendramohan Singh received Rs.4 Crore
from Balwa Company

Updated – Thursday, April 28, 2011 – 9.00 PM IST –
Updated on Friday, April 08, 2011 –

Congress leader Kripashankar Singh’s son Narendramohan Singh received Rs.4 Crore from Balwa Company.
DB Realty's Managing Director Shahid Balwa is under the lens of investigative agencies for his alleged role in the 2G spectrum allocation scam and resigned from the
Board of directors of the company after his arrest


DB realty is investigated by CBI in relation with 2G scam.
Dynamix Realty is a subsidiary of D B Realty.
Dynamix Realty deposited Rs. 4.5 crore in the bank account of the son of Congress MLA Kripashankar Singh, facing a court case for allegedly amassing huge illegal wealth

According to documents available with an RTI activist, Sanjay Tiwari,
DB Realty paid Rs. 4 crore to Mumbai Regional Congress Committee chief Kripashankar Singh's son, Narendramohan Singh

On March 18 A Public Interest Litigation PIL was filed in the
Bombay High Court by RTI activist Sanjay Tiwari.
After the PIL was filed this information about 4 crore came into public eye.
The Dynamix Realty paid Rs.4 crore in three installments in 2009.

According to bank documents annexed to a PIL filed in Bombay High Court against the MLA, the statement of Samata Sahakari Bank account in the names of his son Narendra Mohan Singh and daughter-in-law Ankita, showed four deposits made by Dynamix Reality, totaling Rs 4.5 crore during 2008-2009.

The first deposit of Rs 50 lakh was made on August 23, 2008, in the joint bank account of Narendra and Ankita.
The second entry of Rs 2 crore was made on January 1, 2009 in Narendra's account, while the third and the fourth deposits of Rs one crore each (also in account of Narendra) were made on February 10 and 27, 2009 respectively.

The court said, "For instance, in para 9, petitioner has given specific details of bank accounts and mentioned that there were several deposits amounting to Rs 3.3 crores and more than Rs 30 crores were also deposited in the concerned bank accounts.
The total turnover in the said account over a period of two years was about Rs 60 crores. The bank statements are not disputed by Singh and others".

The court noted "When the petition contains serious allegations about inaction on the part of respondents in not taking any action against Kripashankar and his kins and the specific details of bank accounts provided by petitioner, we find it difficult to accept that enquiries cannot be completed in the matter in spite of passage of nine months".

Dynamix Realty has issued a statement in this regard.
The statement is below:
"Dynamix Realty had given a loan to Mr. Narendra Mohan Singh which has been repaid to the company on 12th March 2010."

The Bombay High court has now ordered the Enforcement Directorate,
the Income Tax Department and the Anti-Corruption Bureau
to conduct an inquiry against Kripashankar Singh and submit a report by end of this month.

Updated on Friday, April 08, 2011 –

Income tax department made prepared a report after the Bombay high court order.
An income tax report on Congress party Mumbai chief and MLA Kripashankar Singh has
Revealed that construction company HDIL paid Rs 15.5 lakh towards the wedding reception expenses of Singh's son, Narendra Mohan.

After the I-T probe, Narendra Mohan made a disclosure of Rs 10.65 crore and paid advance tax of Rs 1 crore for the assessment year 2011-12.

Narendra Mohan married Ankita Singh, daughter of Jharkhand politician Kamlesh Singh, on April 29, 2008.
The ceremonies were held at the Mahalaxmi racecourse and Grand Hyatt in Mumbai as well as at Delhi and Ranchi.
An Income tax official said that HDIL had paid for the racecourse function.

Narendra Mohan holds 33% stake in real estate company Tridev Ventures.
When income tax department started probe into this company, then Tridev Ventures
Made a disclosure of additional income of Rs 10.65 crore and paid Rs 1 crore advance tax following the investigation.

The income tax report also revealed that Kripashankar Singh's wife, Malti, cancelled a deal to buy a 1,100 sq-feet shop at Sai Star in Panvel after the I-T probe.
The deal was signed on September 3, 2004, by paying just Rs 10,000.

Updated – Thursday, April 28, 2011 – 9.00 PM IST –

The PIL was filed by Mumbai social worker Sanjay Tiwari.
The agencies were inquiring into allegations, made in a public interest litigation (PIL), of huge unaccounted wealth accumulated by Kripashankar Singh and his family members.

The allegations against Kripashankar Singh link him to the multi-crore rupee money-laundering scam involving former Jharkhand chief minister Madhu Koda.

three investigating agencies the Income Tax department, the Enforcement Directorate and the state Anti-Corruption Bureau submitted their probe report to Bombay High Court.

Bombay High Court Thursday directed investigating agencies not to wait for its orders to probe a case involving his allegedly unaccounted wealth.

division bench comprising Chief Justice Mohit Shah and Justice D.G. Karnik told that
You must act as per the law. Please do not wait for our orders,' Chief Justice Shah observed after going through the reports which go into the prima facie findings against Kripashankar Singh.


Reality Views by sm –
Saturday, March 26, 2011

Keywords Tag – 2G scam, DB Realty, Kripashankar Singh, Narendramohan Singh, Sanjay Tiwari , Shahid Balwa, Rs.4 Crore