Explained: These are 5 companies allegedly owned by Lalu Prasad Yadav and family

Lalu's family members are shareholders or directors of at least five companies ostensibly deals in export import and construction

By: News Desk |
May 2, 2017 11:05 am

BJP leader Sushil Modi had alleged that former Bihar chief minister Lalu Prasad Yadav’s elder son Tej Pratap Yadav did not mention in his 2015 election affidavit that he had bought a land in Aurangabad in 2012 which is used for running a motorcycle showroom. The accusations made by BJP leader that he is a major stake holder in this business could not be independently verified. However an investigation by Indian Express revealed that Lalu’s family members are shareholders or directors of at least five companies ostensibly dealing in export and import or construction.

Here we have listed down these five companies:

Lara Projects LLP,

Lara is a combination of the initial pairs of letters in Lalu and Rabri’s names. The company got its new name on February 14, 2017. Formed in 1981, it was earlier called Delight Marketing Company Pvt Ltd, an entity owned by the family of RJD MP Prem Chand Gupta. In 2010-11, Gupta’s wife Sarla transferred 1,401 shares to Rabri and one to Tejashwi, and subsequently in 2013-14 by the transfer of 1,101 more shares to mother and son. Earlier tha company was valued at Rs 2.28 crore in 2010-11 and Rs 2.29 crore in 2011.Quite interestingly, the value of Rabri and Tejashwi’s shares was just Rs 4.02 lakh. Earlier, Delight’s declared objectives were import and export.However, after the share transfer, the company changed its objectives to construction activities from November 21, 2016. The change facilitated the construction of what is being described as “Bihar’s biggest mall” in Danapur.

Lara Distributors Private Ltd

Originally named Lara Interiors Private Limited and formed in 2005, the company got its new name in 2010. Lalu’s daughters Misa Bharti, Chanda and Ragini and wife Rabri became directors. Tej Pratap was appointed director in April 2010, but stepped down in 2015 after he was elected MLA. Tej continues to be the main stakeholder with 2.51 lakh shares; Rabri has 1.17 lakh, Ragini one lakh, Chanda 2,000 and Misa 1,000. The company’s declared business is in interior design products. This is the company, according to Modi, that owns Aurangabad motorcycle showroom.

AK Infosystems Private Limited

Formed in September 2006, firm’s founder Amit and OP Katyal transferred ownership to Rabri and Tejashwi, who hold 85 and 15 per cent respectively .Tej Pratap in March 2007, Tejashwi, Chanda and Ragini were appointed directors in 2014. The sisters remain directors; the brothers have stepped down. Sushil Modi, sought to know why the company hardly carried out any business. “How much did Lalu’s family spend to own a company worth crores? What was the consideration for such largesse to the family?” he said.

AB Exports Private Limited

Based in Delhi’s Defence colony and formed in 2008, this company bought 500 square yards with a house in New Friends Colony for nearly Rs 5 crore. Delight Marketing, which later went on to become Lara Projects LLP, had shown its office address on that property. In 2011, the ownership of this company and the house was transferred to Tejashwi, Tej Pratap and Chanda, who now own 98 per cent of the shares. A four-storey building is coming up on the land. Neither Tej nor Tejashwi had declared this land in their poll affidavits.

Fairgrow Holdings Private Ltd

With its office at 130/1 Bakul Bagan Road, Kolkata, the company has land worth Rs 76.32 lakh. Tejashwi was appointed director on October 20, 2014. While an RoC records check revealed that Yash Choudhary and Brij Sarin, residents of Delhi, were directors, and 20 individuals and companies were shareholders in 2015 .RJD spokesperson Tiwary said becoming a director of a company is not illegal.