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Jaitley Criticises Vadra Business Model

Published: 19th April 2014 06:00 PM  |   Last Updated: 19th April 2014 06:00 PM   |  A+A-

Jaitley1PTI
By IANS

BJP leader Arun Jaitley Saturday attacked Congress president Sonia Gandhi's son-in-law Robert Vadra for his rise in the real estate business.

Taking a swipe at Vadra in his blog, Jaitley wrote: "Congratulations to Robert Vadra. He has made it to the Wall Street Journal. The Vadra business model requires the research paper to be prepared by a key business analyst."

He was referring to a write-up in The Wall Street Journal which raised questions of his meteoric rise in the real estate sector.

"Start a business without any investment. Investment will flow as loans and advances which is a synonym for political equity.

"Use these loans to buy property at fraction of the market cost. Many people are willing to sell property for an inadequate consideration, accumulate a land and a property bank with the patronage of the state," it added.

"Sell off some properties and repay back the original loan. The rest is all yours with no liabilities. So far this business model has raised only eyebrows. It is time it raises serious questions. That is what the Wall Street Journal has done," he said.

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