A seven-storey commercial building named Nexia Tower has recently been completed near GS Road in the Sixmile area of Guwahati. Built on a plot of approximately 1 bigha, the project is owned by Nexia Developers Private Limited, a company headed by Rajarshi Neog and Kashyap Neog, the two sons of Assam’s Finance Minister, Ajanta Neog.
The construction of this massive building was completed after Ajanta Neog assumed the finance portfolio in the government led by Chief Minister Dr. Himanta Biswa Sarma. Over the past five years, the Minister’s sons have allegedly acquired multi-crore real estate properties across various locations in Guwahati. However, Nexia Developers has a history of allegedly questionable financial transactions.
In 2012, under the Congress government led by Chief Minister Tarun Gogoi, Ajanta Neog held several key portfolios. During this period, Nexia Developers Private Limited was established on October 8, 2012. Initially, the company had Rajarshi Neog and a woman named Elora Devi, sister of Ajanta Neoh as directors, with Rajarshi holding 75% of the shares and Elora Devi holding 25%.
However,just three weeks after the company was formed, Rajarshi Neog resigned from his directorship. He was replaced by two individuals ,Kumar Parikhit Narayan Dev and Manju Haloi.
Following these leadership changes, Nexia Developers allegedly began financial dealings with several suspicious Kolkata-based firms. The company, founded by the Minister’s son, received a total of ₹44,31,843 in the form of loans and advances from two Kolkata entities-
Madhushree Finvest (Address – Room No. 602, 18 Strand Road, North Kolkata. Current directors- Mukesh Goel and Indu Agrawal,) and Samrat Finvest (Address – Room No. 13A, 2nd Floor, 20/1 Maharshi Debendra Road, Kolkata. Current directors: Vikash Kumar Sodhani and Tapas Kumar Hore.)
According to sources in Kolkata, both these companies are reportedly involved in suspicious financial dealings. Nexia Developers, founded by Ajanta Neog’s son, received an investment of approximately ₹45 lakh from these entities. During that same period, Rajarshi Neog himself invested ₹5 lakh into the company.
On July 7, 2015, a prime plot of land was purchased in the name of Nexia Developers near GS Road in Sixmile ,(Dag No. 483, Patta No. 396. )Subsequently, the company’s financial transactions took a new turn. In 2017, shares worth ₹50 lakh were allotted to Kumar Parikshit Narayan Deb, and shares worth ₹1.25 crore were allotted to Ellora Devi. Thus, a total investment of ₹1.75 crore was made in Nexia Developers that year. In 2019, Manjushree Haloi resigned from the directorship.
The political landscape changed in December 2020 when Ajanta Neog left the Congress to join the BJP. After the BJP formed the government in 2021, she was allotted the crucial Finance portfolio. Following her appointment, significant changes occurred within Nexia Developers.
On March 3, 2022, both Kumar Parikhit Narayan Deb and ellora Devi resigned from their posts as directors. Just 15 days prior, Rajarshi Neog and Kashyap Neog had emerged as Additional Directors. During this transition, all shares previously held by Kumar Parikhit Narayan Deb and Elora Devi were transferred to the Minister’s two sons, giving them full control of the company.
In 2024, Nexia Developers disclosed to the Ministry of company affairs that it was constructing a building valued at approximately ₹3.80 crore. This seven-story structure has now been completed at Sixmile. Furthermore, sources claim that since their mother became Finance Minister, Rajarshi and Kashyap Neog have continued to acquire extensive real estate assets across various parts of Guwahati.