Is sale of 3,00,000 Tonne responsible for exit of CMD-SAIL?

An act diligently crafted by Soma Mondal, Amerandu Prakash

Former CMD, Soma Mondal, then Director Commercial, V S Chakravarty and present CMD Amerandu Prakash are being held responsible for financial losses to the SAIL and are alleged for repeat offence.

It is now adequately recorded in the media reports that before sending the complaint on sale of steel to M/s Venkatesh Infra Projects P Ltd to LOKPAL of India, the Whistle Blower Rajeev Bhatia sent the very complaint to Soma Mondal and V S Chakravarty, the then Chairman and Director (Commercial) of SAIL on November 17, 2022.

Principles of Good Corporate Governance demanded that the duo, as Members of SAIL Board, have provided protection to the Whistle Blower from retribution and vendetta and initiated investigations in the complaint received from him. Instead, they buried the complaint under the carpet and suspended the Whistle Blower on November 24, 2022.

It is only when both did not take any action on the complaint, instead suspended the Whistle Blower on November 24, 2022, Bhatia lodged the complaint with LOKPAL of India in February 2023. It has been gathered that in between, three times Bhatia sent the same complaint to PMO. From PMO the complaint came to Soma Mondal but she again buried the same on all the three occasions.

Matter is not limited to burying the complaint under the carpet and suspending the Whistle Blower. Both Soma Mondal and V S Chakravarty took no action in stopping sales to Traders in the name of Projects, which was the central point of Bhatia’s complaint sent to them. Rather the sales accelerated.

After the superannuation of Soma Mondal on April 30, 2023, Amerandu Prakash took over as Chairman SAIL and Modi government rewarded Soma Mondal with a prize posting of Member, PESB.

Prakash joined SAIL in 1991 as a Management Trainee (Technical).After working in various positions of responsibilities in plants and units, Amarendu Prakash was selected as a Director in the SAIL Board in charge of Bokaro Steel Plant in 2020. In between, during 2016 to 2020, he also worked in the Chairman’s Office also. Although multifunctional experience was provided to him by SAIL, but after taking over as Chairman, he also chose not to stop the sales to Traders in the name of Projects.

Whether Prakash kept his promise or just fooled the Ministry?

In July 2023, Ministry of Steel shared the findings of the investigation report of CVO-SAIL in the matter of steel supplies to M/s Venkatesh Infra Projects P Ltd with him. In return, on July 31, 2023, Prakash conveyed to Ministry of Steel that a team of officers has been formed to explore the possibilities of improvements.

On January 31, 2026, ‘bureaugram.com’ broke the story – “CBI on directions of Lokpal widens ongoing investigations against officers of SAIL”. The story covers a large number of firms against whom investigations has been launched by CBI where SAIL officials followed the same modus-operandi as they followed for M/s Venkatesh Infra Projects P Ltd and fraudulently supplied over 1,50,000 Tonne of steel to it in the name of Projects.

https://bureaugram.com/news/cbi-on-directions-of-lokpal-widens-ongoing-investigations-against-officers-of-sail

Now ‘bureaugram.com’ has gathered that SAIL officials supplied over 6,50,000 Tonne of steel to these firms who are under fresh investigations of CBI. All these firms are allegedly involved in Trading or Re-Sale rather than doing any kind of constructions or Project work.

Highlight of the fresh investigations by CBI

Out of 6,50,000 Tonne, over 3,00,000 Tonne of steel have been supplied by SAIL after the receipt of complaint on M/s Venkatesh Infra Projects P Ltd from the Whistle Blower.

The above-mentioned sale of over 3,00,000 Tonne also proves a point that Bhatia was suspended so that sales to Traders in the name of Projects can be kept running without any interference.

Ignorance can be a bliss but not acting despite knowledge is criminal.