Dynamix Realty, a subsidiary of D B Realty, which has come under the probe agencies' scanner in the 2G spectrum allocation scam, had 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 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, totalling 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.
A statement by the depositor, meanwhile, said, "Dynamix Realty had given a loan to Mr Narendra Mohan Singh which has been repaid to the company on March 12, 2010".
The Bombay high court had on March 3 come down heavily on state Anti-corruption Bureau, Income Tax and Enforcement Directorate for not sharing information among themselves and asked the agencies to probe the source of transactions reflected in the bank accounts of Kripashankar Singh and his relatives.
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".
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 PIL, filed by Sanjay Tiwari, a social worker, has also alleged that Kripashankar, a former state minister and currently the Mumbai Pradesh Congress Chief was close to former Jharkhand Chief Minister Madhu Koda, allegedly involved in a multi-crore hawala scam. It also alleged that a lot of transactions took place between the two. ED, however, has said it had not found any links between Koda and Singh.
Meanwhile, reacting to the allegations Singh said his son had business transactions with (Vinod) Goenka, (chairman of DB Realty) but denied any wrongdoing.
"He (Singh's son) recieved the amount in cheque and paid (back) in cheque. There is nothing objectionable in the transaction," the Congress leader told PTI.
"An amount of Rs three crore was received from Dynamix Realty through two cheques and was meant for business purpose as recorded in books of accounts and my IT returns," Singh's son Narendra Mohan Singh said.
"As the business transactions did not materialise the amount was refunded in March last year. The refund reflected in books of accounts," Narendra said in a statement.
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.