In Parliament, critics angrily demanded 'who paid for it?' The Income Tax department says it intends to find out. As for Mayawati, well, she's keeping it.

NDTV sources say that the garland has now been dismantled and the money transferred to party account.

Sources have told NDTV that Bahujan Samaj Party (BSP) is open to an inquiry. BSP leader allege that this is the Centre's (Congress led UPA government) way of targeting the party because of its successful rally.

Her party workers say the garland made of thousand rupee notes is "with the Chief Minister of UP, where it belongs". (Read: Maya's 200-cr rally, despite Bareilly tension)

The garland was placed around Mayawati's neck on Monday at a silver jubilee celebration for the Bahujan Samaj Party. It was so lavish that it seemed over-the-top even at a rally that cost 200 crores. Money, her party adds quickly, that came from its own donors and members, and not from taxpayers. (Read: Cong, BJP demand probe into Mayawati's mala)

The Income Tax department says it will investigate who paid for it, and how. (Read: Maya's money garland: Income Tax Department begins probe)

Naseemuddin Siddiqui, a minister in Mayawati's government, says the garland "came from the Lucknow unit (of the BSP) and was made with the contributions of the workers here. We are all a part of it...its cost is 21 lakh rupees."

That's a revision of an earlier BSP estimate that said the necklace was worth 11 lakhs.

While Mr Siddiqui reiterated that the garland was made in Lucknow NDTV sources say it was made in Karnataka.

BSP is also reported to have discussed the legal opinion on the issue in its meeting, that was held at Mayawati's residence on Tuesday in Lucknow.

Angry Opposition leaders claim the garland is worth several crores. Siddiqui says their math is incorrect. "If someone has counted the money, they should tell us.... the Opposition is threatened by the success of the rally and the party and that's why they are making these baseless allegations." (Read: Opposition slams Mayawati)

Siddiqui says the BSP actually chose a more refined way of valuing its leader. Other parties, he points out, weigh their leaders in coins. This was more practical. He adds, "In all parties, packets of money are presented to leaders...they are only troubled because it's a Dalit party and Mayawati is a Dalit's daughter. This is hypocrisy." (See Pics: Lucknow painted blue for Mayawati's mega rally)