JAIPUR: In a new twist in the massive property purchases by senior IAS officer Shikhar Agarwal, a Jaipur-based group has now demanded a CBI investigation into the shocking issue.
Following this revelation that Shikhar Agarwal, his IPS wife Prashakha Mathur and their family bought 40 villas and cottages over the past two years, the Bhajan Lal government took swift action and placed Shikhar Agarwal on APO (Awaiting Posting Orders) with immediate effect.
Shikhar Agarwal, a 1993 batch IAS officer, is currently posted as Additional Chief Secretary (Industries Department) and holds key portfolios such as Industries, Investment, and RIICO. He previously served as Additional Chief Secretary to current Chief Minister Bhajan Lal Sharma.
Despite Shikhar Agarwal being made APO, senior advocates Poonam Chand Bhandari and T.N. Sharma, on behalf of the Jaipur-based organization "Public Against Corruption," have sent a formal complaint letter to the CBI Director.
The complaint demands that the CBI should register an FIR and conduct a thorough probe into corruption, disproportionate assets, undervalued prices of the villas, and alleged benefits provided by officials to the company from which Agarwal purchased the huge properties. It alleges that the private company was given numerous undue benefits including mis-use of forest land and government policies.
In the complaint, T.N. Sharma has asserted that land and property prices in the state are skyrocketing, while the government has been informed that Agarwal and his family purchased villas for just ₹15 lakh each.
The organization questioned that the average person cannot get even a one-room flat at this price, yet the company provided the villas at this low price to Agarwal and his family.
The complaint also demands an investigation into the businesses of the two officials' sons and other family members who purchased the villas.
Furthermore, an investigation is sought into allegations that while serving as Forest and Environment Secretary, Shikhar Agarwal allowed Goyal Fashions, the compancy from which he bought the huge property, to benefit from forest land.
It is reported that the property purchases by Agarwal were made in Bujhra in Udaipur over two years ago, and in Ajabgarh in Alwar, a few months ago.
The significant discrepancy between the registry's purchase price of approximately ₹6.25 crore (approximately ₹62 million) and the reported market value of over ₹50 crore (approximately ₹50 million) for these properties raises questions.
People are also estimating the prices of these properties on social media. From the Secretariat to political circles, the big question haunting people’s minds is: can a villa be purchased for ₹14 to ₹16.50 lakh (approximately ₹62 million)?
According to the registry, the value of all 40 villas and cottages is around ₹62 million (approximately ₹62 million).But according to property dealers, the current price of a single villa in Ajabgarh ranges from ₹70 lakh to ₹1 crore, depending on the size, and in Bujhra, Udaipur, it ranges from ₹1.50 to ₹2 crore. Based on this estimate, the total market value of the properties bought by Agarwal and his family is well over ₹50 crore.
The biggest suspicion arose when, immediately after the registration, all these villas were leased back to the same company from which the villas and cottages were purchased, at a rate of ₹1.80 crore annually. This means the entire investment cost is being recovered in just 3.5 years, which is not commercially normal.
It is alleged that Shikhar Agarwal, while holding various important positions (such as Udaipur Collector and Chairman of the Rajasthan Pollution Control Board), bypassed regulations and directly benefited this resort company.
Another issue is that in March 2026, on the same day the Alwar villa was registered in the family's name, the Finance Department issued an order granting the same company's project a customized incentive package (substantial tax and electricity fee exemptions and subsidies) under the Rajasthan Investment Promotion Policy (RIPS). Questions are being raised about the connection between the purchase and lease of these properties and the concessions received by the company.
Shikhar Agarwal listed 14 properties in his immovable property return, while his wife, IPS officer Prashakha Mathur, listed "zero" immovable property in her January 2026 IPR, despite allegedly having 14 properties registered in her name.
This discrepancy raises serious questions. The official claims he provided details in his tax returns and property statements but the same were not reflected due to a technical error.
BJP leader and High Court advocate Indra Mohan Singh Honey has also submitted a memorandum to the Director General of the Anti-Corruption Bureau (ACB), demanding a prompt FIR and arrests in this case which of has become a major controversy in Rajasthan's administrative and political circles.
