Lalu and his Family in Deep Trouble Because of Benami Property

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Lalu Prasad Yadav, former Bihar Chief Minister and Railway Minister, is once again in the discussion. This time he is in the headlines because of the CBI raids. He has been accused of irregularity in tender during the stay of Railway Minister.

He is accused of giving a tender of a hotel to private companies of Ranchi and Puri In this matter, the CBI has registered a case against eight people including Lalu Prasad, his wife Rabri Devi and son Tejasvi Yadav. In his defense Lalu has said that, these allegations are false and are conspired by BJP. No matter what Lalu says, he is in great trouble.

Everyone knows that the Lalu family has a big political status. He has always been vocal against the BJP and Narendra Modi. He says that, he is against the communal politics; therefore he is being targeted through the CBI, but due to the presence of documents against him, he has and his family members have to go through the legal process. FIR has been registered against Lalu and his son Tejasvi Yadav, Bihar’s deputy CM and it seems like, it will be difficult for Tejasvi Yadav to hold back his chair amid all these serious allegations.

Lalu Prasad’s family had already had a crisis over the benami property. The Income Tax Department has claimed that Lalu’s family have an anonymous property of nearly 1,000 crore. In this, property worth 175 crores has been seized. In this connection, Misa Bharti’s CA Rakesh Agarwal was arrested in the money laundering case, worth Rs 8,000 crore, of Delhi’s two businessmen. The new legislation that has come into existence in connection with the Anonymous property has proved that now the government agencies have got the right to take action against VIP’s.

I guess it is happening for the first time that action has been taken against such a known political leader and his family by seizing the large amount of property. Among them are his wife Rabri Devi, MP daughter Misa Bharti, her husband Shailesh, two other daughters Ragini, Chanda, son Tejasvi Yadav and Tej Pratap Yadav. Prime Minister Modi, while reviewing Operation Clean-in to make the country free of corruption, directed the revenue department officials to expedite action against people possessing benami property.

The same thing was said by the Prime Minister in the Mann Ki baat show on Akashvani. It is clear from Modi’s intention that he is in favor of such action against black money and corruption, from which people who possessed benami property should be in legal tangle.
Actually black money earned through tax evasion, corruption is such a wealth, which have been the highest used in benami properties. Hence, the NDA Government has notified and notified the Benami Transaction which was buried in the files, remained in the file in 1988, removed it and revised it.

After the proceedings on the Lalu family, its impact began to appear.The transaction is anonymity, in which money is used of someone else’s and the propety is under someone else’s name. Many rich people use the same method for the purchase of properties at large and the FDs of banks, to settle the black money.

For this, the Benami Transaction Act was made in 1988, but was not notified. On May 13, 2016, the current central government has made amendments in property seizure, punishment and penalties. This law came into effect from November 2016. Under this, convicts can be punished for one to seven years and fines can also be imposed.

In this case, the way in which benami property has been stroked; it will set an example and warning for such accused. This is a great way to curb blackmoney.

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