Express Exclusive: Realty giants Jaypee, Unitech and DLF in web of firms linked to Mayawati's brother
Between 2010 and 2012, real estate companies DLF and Unitech invested Rs 6 crore and Rs 335 crore respectively in Carnoustie. DLF and Unitech have said that the investments were part of normal business transactions. Both firms, and Jaypee — which is a joint venture partner with Carnoustie — have residential and commercial projects in UP.
Hotel Library Club is also the holding company of three other firms, which had a total bank balance of Rs 320 crore as of end-March 2012. One of the three subsidiaries of Hotel Library Club is Revolutionary Realtors, which earned Rs 60 crore through “speculation business” in 2011-12, and had a bank balance of Rs 54 crore as of end-March 2012.
Tamanna Developers, a subsidiary of Revolutionary Realtors, had a cash surplus of Rs 160 crore as of end-March 2012. As managing director, Anand Kumar earns an annual salary of Rs 1.2 crore each from Hotel Library Club and Revolutionary Realtors.
Real estate developer Deepak Bansal of SDS Group was one of Kumar’s key business associates — a director in Hotel Library Club and in another firm owned by Kumar, called DKB Infrastructure Pvt Ltd.
Bansal, whose firms are building about 2,500 apartments in Noida and Greater Noida, is one of the two main links between Kumar’s companies and the real estate giants who invested in Carnoustie.
Bansal’s SDS Developers is