According to the sale deed (No. 1522/2006) registered at the sub-registrar’s office, SR Nagar, on May 23, 2006, Ms Manjit Rakkar, mother-in-law of AP home secretary B.P. Acharya paid the entire sale consideration of Rs 45 lakh through a cheque (No. 009529) drawn on Union Bank of India, Jalandhar. She purchased the third floor measuring 4,808 sq. ft along with 150 sq. yards of undivided share of land. This is one-sixth of the land on which the complex is built.
However, a sale deed (No. 107/2006) registered in the same sub-registrar’s office on January 10, 2006, revealed that VIPL sold the fifth floor with the same area of 4,808 sq, ft for a consideration of Rs 81,73,600 to Mr Vijay K. Sajja. The undivided share of land given to Mr Sajja is only 132 sq. yards, compared to 150.56 sq. yards given to Ms Rakkar.
On December 24, 2007, Ms Rakkar executed a gift deed (No. 2771/2007) “granting” the property to her grandson “as a gift”. Mr Nikhil Acharya became the absolute owner of the property thereafter. In the gift deed the value of the property was declared as Rs 88.11 lakh at market value. What makes matters even more interesting is that Mr G. Maloji Rao, a confidant of Mr Acharya, who served as law officer for APIIC, stood witness to the gift deed, and Mr Acharya himself attested the photocopies of the supporting documents in his capacity as a gazetted officer.