IAS Shikhar Agrawal Villa Controversy: Goyal Fashions MD Sanjay Goyal Claims Market Rates Were Applied

Sanjay Goyal, Managing Director of Goyal Fashions, has publicly responded to allegations surrounding a villa-cottage transaction involving senior IAS officer Shikhar Agrawal in Rajasthan. According to media reports, Goyal stated that all transactions were conducted transparently at market rates and denied that any undue favors were extended to the officer or his family.

Key Statements and Claims

• Market Rates Applied: Goyal claimed that the properties were sold at the standard market price of approximately 17 to 18 lakh rupees per cottage, similar to rates offered to other buyers.
• Investment Policy: Goyal referenced state investment policies, noting that standard incentive packages for investments exceeding 100 crore rupees are determined by a high-level committee including the Chief Minister and multiple senior officials, rather than an individual.
• Business Model: He explained the company's investment model, where investors contribute 50 percent of the cost while the company funds the remaining 50 percent to build the villas, with profits or losses shared proportionally.

Background of the Controversy

• Media reports previously alleged that senior bureaucrat Shikhar Agrawal acquired 40 villa-cottages from Goyal Fashions Private Limited across locations including Udaipur in 2023 and Alwar in 2026, totaling a reported cost of 6.16 crore rupees.
• Allegations suggested the purchases were made below market value in exchange for official favors, and that the assets were registered under the names of the officer, his spouse IPS Prashakha Mathur, their sons, and in-laws.
• Following the emergence of these reports, the state government placed IAS Shikhar Agrawal on APO (Awaiting Posting Orders) status.

Readers are advised to verify official statements through government notifications and authorized administrative updates.