Controversial liquor and real estate baron Ponty Chadha and his younger
brother Hardeep have died in a shootout at their farmhouse in New Delhi.
Sources have told NDTV that the two brothers had a meeting with each
other around noon today over a property dispute. The meeting began
peacefully but turned violent after a fresh dispute emerged.
agency IANS quotes a police official saying Hardeep opened fire on
Ponty Chadha, following which Mr Chadha's security guard shot Hardeep.
of now we have got the details that first Hardeep shot Ponty and
immediately Ponty's gunmen shot Hardeep. The shooting was a result of a
property dispute. The incident happened around 12.30 p.m.," a senior
Sources say both the brothers were shot around their
chest; there were 12 bullet wounds in Ponty Chadha's body; Hardeep had sustained four. A guard tried
to intervene and was caught in the cross fire. He has sustained
Around 1 pm, a call was made to the police from inside the farmhouse, located in Mehrauli, about the incident.
little over a month ago, on October 5, gun shots were also reported
from Mr Chadha's house in Uttar Pradesh's Moradabad district.
Ponty Chadha singularly ruled over the liquor business in Uttar Pradesh
- he was granted the sole distributorship for liquor under the Mayawati
regime. He allegedly bought liquor at low prices and subsequently sold
them at exorbitant rates.
Pegged at $1.5 billion, his corporate
assets - including liquor - also spanned across real estate, sugar, film
production and exhibition.
Ponty Chadha, along with his
brothers, managed the Chadha Group, which has been consolidated under
the Wave brand. He ran a popular chain of multiplexes - under the Wave
brand - in the National Capital Region. One of them at Noida,
incidentally, is situated in the mall that was raided by Income Tax
officials over alleged tax evasion.
Mr Chadha was known to be
close to the Samajwadi Party but shifted loyalties to the Mayawati-led
Bahujan Samaj Party regime. His business, incidentally, had flourished
Apart from the sway that he holds over the liquor
business, Mr Chadha also allegedly benefited in the sugar industry.
Three sugar mills were awarded to his Wave Industries which led to the
state reportedly incurring losses to the tune of Rs. 124.70 crores.
the real estate sector too, a massive, 4,500 acres of prime land was
awarded to Wave Infratech that he owns for the Yamuna Expressway Project
- a venture that is close to Mayawati's heart and has been mired in
controversies over land acquisition.