Modi gave unsecured loans to Vasudhara Raje son venture Niyant Heritage Hotels

New Delhi, June 17: A lot seems to be coming out of the graves with the ongoing row over issuance of Indian visa to Lalit Modi by External Affair Minister, Sushma Swaraj. The opposition just got more in hands to demand resignation of not only Swaraj but Rajasthan chief minister Vasundhara Raje too.After the former Indian Premier League (IPL) chief confirmed his close relations with Rajasthan chief minister, Vasundhare Raje, Congress alleged that Modi also invested Rs 11.62 crore in the hotel venture on Raje’s son. According to ongoing investigation by Enforecement Directorate it has come to notice that Modi paid Rs 11.62 crore to Raje’s son Dushyant Singh. The amount was invested in Niyant Heritage Hotels Pvt Ltd (NHHPL) in April 2008.
In the amount invested, Lalit Modi’s Anand Heritage Hotels gave unsecured loan worth Rs 3.80 crore to Niyant hotels which bought Rs 10 share for Rs 96,190. Dushyant justified the value saying it was keeping in the mind the future valuation of the shares. Dushyant and his wife are directors on Niyant Hotels venture.
Opposition has been demanding Swaraj’s resignation over the issue and also staged a protest outside her residence in New Delhi on Tuesday. BJP leaders have come out in support of Swaraj and maintain she has not gone against the protocol in providing Lalit Modi with visa. Finance Minister Arun Jaitley also spoke for Swaraj saying the rumors were baseless.