The Income Tax department’s investigations into the ambitious housing project of Tata, which bought huge chunks of land belonging to two Kansal- based societies, has led to an “unaccounted” trail of a whopping Rs 101 crore cash transactions between Hash Builders and a Mumbai-based jewellery house.
The transactions were done over a period of time and a major part of the amount as part of the deal for acquiring the land was paid to the members of the two societies;Punjab MLAs housing society and Defence Services society. While nearly 22 acres of land were bought from the Punjab legislators’ society, the other society also sold a huge plot to the Tata Housing Development Company (THDC).
A tripartite agreement between THDC, Hash Builders and the societies under which each member of the societies had to be paid a certain amount (Rs 82 lakhs in case of the MLAs’ society) besides a four- bedroom flat in the multi-storeyed housing complex to be constructed by the Tatas. The total payment for the MLAs’ society was close to Rs 106 crores, while the other society was to get Rs 125 crore.
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