The Rise and Fall of Aam Aadmi Party: How a party came from nowhere to capture power in the state of Delhi only to fade away just as quickly by Sree Iyer

Author:Sree Iyer [Iyer, Sree]
Language: eng
Format: epub
Published: 2017-08-11T18:30:00+00:00

AAP’s fraudulent Accounting practices - ReceiptGate

The AAP brazenly understated their donation amounts, especially the huge donations that came their way. The party which preached ethics and transparency violated all accounting and fund declaration norms of Income Tax Department and the Election Commission. The hubris filled party deposited cheques in the bank, and understated the amounts to the Election Commission. So where did the difference go? Seeing Kejriwal’s unexplainable anger against Modi’s Demonetization, you don’t need super human intelligence to understand that he and the top AAP leadership were sitting on huge piles of cash.

At first, to fool the people, it put some accounts on their website and made tall claims about transparency. But when the skeletons started tumbling out, all of a sudden, the accounting details were withdrawn from the website and Kejriwal became mute.

It took more than year for AAP to submit its Lok Sabha 2014 elections to Election Commission. The accounts submitted were just cooked up figures of donations received and were ridiculous. Regrettably the Election Commission has no powers to challenge such figures (even if they are ridiculously off) given by political parties.

One clear case of accounting fraud is, the donation by Flipkart owner’s wife Priya Bansal. Priya had donated Rs.90 lakhs to AAP during 2014-2016 in several instalments (See Figure 1). According to AAP’s website, these transactions were shown with each instalment and bank transaction numbers. But to Income Tax, the AAP declared just Rs. 6000 as the donation amount from Priya Bansal! When this was caught, AAP took down the entire donation details from its website. But sharp observers had already made copies.

Below are the details earlier published about the Rs.90 lakhs donation in instalments from Priya Bansal. For privacy purposes, we are omitting showing the PAN number and Bank details…

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