Chartered accountants may be struggling to make sense of the deals between realty major DLF and Robert Vadra, Sonia Gandhi’s son-in-law. They will be even more challenged deciphering the activities of Sky Light Hospitality, the Vadra company with which DLF is said to have done loan-cum-land deals. Here is an unexpurgated excerpt of its activities from the Director’s Report of 2009-10.
“Company has entered into partnership arrangement on 20th October, 2009, having acquired 50% Shares in said partnership namely Saket Courtyard Hospitality, there are four partners. Company has contributed Rs. 5 Crores as contribute capacity as partner. The business of his firm for the premises at saket is manage by Hilton International Manage LLC. During the period of operation the firm has suffered loss as a result of claim of Depreciation of the Hotel Assets these loss allocated in the hands of company as partner the Company Capital, Investment as a result has that deprecated. The company has accepted advance against sale of property of which has kept in the FDRs which fetched interest income to the company. The company has entered into Joint Venture for Booking for Flats Jointly with Sky Light Realty Private Ltd.”
And the crux: “The company has acquired new Land also. The company has accepted from loan facility from various parties and there are proposal to pay interest also.”
