Overview

• Special Judge Vishal Gogne said the transactions were possibly an instance of crony capitalism and noted a quantifiable loss to the exchequer from undervalued share transfers.
• Charges were framed under IPC Sections 420 and 120B and under the Prevention of Corruption Act Section 13(2) read with Section 13(1)(d)(ii) and (iii), which carry maximum penalties of seven and ten years respectively.
• The CBI case centers on alleged manipulation of leases for IRCTC’s BNR hotels in Ranchi and Puri to Sujata Hotels, with land in Patna and shares routed to Lalu Prasad Yadav’s family through entities including DMCPL.
• Lalu Prasad Yadav, Rabri Devi and Tejashwi Yadav pleaded not guilty at the Delhi court hearing, with Lalu appearing in a wheelchair.
• The development lands weeks before Bihar’s two-phase assembly election on November 6 and 11, with the RJD alleging political motives and the BJP attacking the Opposition over corruption.