Bansal's kin on many company boards, says BJP leader

As skeletons continue to tumble out of the cupboard in the infamous cash-for Railway-Board-post scam, it has come to light that there are 10 companies where Union Minister Pawan Kamar Bansal’s immediate or close family members -- including his wife, sons and even nephews, who have either been arrested or are under the scanner -- are stakeholders and directors.

All 10 companies came up post 1999, when Bansal’s political graph started to rise, former BJP MP Satya Pal Jain has alleged. Jain lost twice to Bansal in Lok Sabha elections from Chandigarh.

The business turnover of these companies also increased manifold in the last decade or so, alleged Jain. Bansal, meanwhile, has distanced himself from nephew Vijay Singla, who was arrested for accepting Rs 90 lakh as a bribe in lieu of a top railway appointment. Bansal has claimed that he does not have any trade links with Singla.

The companies where Singla is a director do not have any of Bansal’s close relatives on the board, but Singla and Bansal’s sons have common relatives as directors in their respective companies. The BJP is seeking a probe into all this.

Jain has alleged that soon after Bansal became the railway minister, his close friends and relatives started getting into businesses like catering and mineral water supply for the railways. Jain accused Bansal’s relatives of having business interests that had links to his position.

Bansal’s wife Madhu is a director of IVA Healthcare Private Limited and Theon Pharmaceutical Limited. His sons Amit and Manish are stakeholders in Bansi Raunaq Energy Group Limited and ISIS Packaging Private Limited, besides being directors in the two companies where their mother is also a director.

Theon pharmaceutical, where Bansal’s wife and two sons are directors, saw its fortunes soar phenomenally. The company’s profit was 0.2 per cent in 2008, which increased to 19.5 per cent in 2012.

Jain also claimed that a company belonging to one of Bansal’s nephews’ had listed Sector 28 Chandigarh as its address. This is the residence of Union Minister in the city, he added. Singla was known in the city as someone who could crack big business deals. Singla’s shopping mall, Acropolis in Chandigarh, is said to be on a huge piece of land, and the cost of the project is an estimated about Rs 1,000 crore at market value.

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