SAIL PROJECT SCAM: VENKATESH INFRA PROJECTS P LTD : A much larger and deeper conspiracy
Apart from BLA UDYOG P LTD and JAI BALAJI (BALAJEE) ENTERPRISES, VENKATESH INFRA PROJECTS P LTD is also connected to FIRSTINDIA INFRASTRUCTURE P LTD.
FIRSTINDIA INFRASTRUCTURE P LTD : Curtain Raiser for VENKATESH INFRA PROJECTS P LTD
Project MOU with FIRSTINDIA INFRASTRUCTURE P LTD and BLA UDYOG P LTD were signed by the Baroda Branch of CMO-SAIL. Based on the timelines, sources claim that the following sales officers of CMO-SAIL were instrumental in initiating supplies at negotiated prices and signing Project MOU with the above two firms : Manmohan Verma, Branch Manager Baroda; Jacob Chako, Regional Business Manager (Long Products), Western Region and Abhijeet Kumar, Regional Manager, Western Region.
Project MOU with FIRSTINDIA INFRASTRUCTURE P LTD was for the period July 01, 2020 to June 30, 2021. Although Project MOU was entered w.e.f. July 01, 2020 but supplies had begun to the firm from Jan 2020 itself. From Jan 2020 to Feb 2021, a total of about 25,000 Tonne TMT Bars were sold to the firm at Negotiated Prices accruing a loss of about Rs 6.0 Crores to SAIL.
SAIL knew it all : VENKATESH INFRA PROJECTS P LTD was a known Trader
VENKATESH INFRA PROJECTS P LTD was not a new subject for SAIL officials. They had known this subject through BLA UDYOG P LTD; JAI BALAJI (BALAJEE) ENTERPRISES and FIRSTINDIA INFRASTRUCTURE P LTD.
Vinod Singhal as Branch Manager (Long Products), Ghaziabad along with Mahesh Chand Agrawal, Regional Manager, Northern Region here again played pivotal role in camouflaging BLA UDYOG P LTD as “Project”. They are founding fathers of the scheme of camouflaging “Traders” as “Project” and then sell SAIL steel at heavy discounts. In this regard, refer our story : “SAIL PROJECT SCAM : Genesis and how it spread like cancer in the body of SAIL” at the link below:
How FIRSTINDIA INFRASTRUCTURE P LTD; BLA UDYOG P LTD; JAI BALAJI (BALAJEE) ENTERPRISES, and VENKATESH INFRA PROJECTS P LTD connected ?
Documents accessed by ‘Bureaugram.com’ confirm that FIRSTINDIA INFRASTRUCTURE P LTD is engaged in the business of Trading in Iron and Steel. In fact, BLA UDYOG P LTD; JAI BALAJI (BALAJEE) ENTERPRISES, and VENKATESH INFRA PROJECTS P LTD, all are engaged in Trading Business. Refer links given at the bottom of this article.
https://www.bureaugram.com/news/agarwals-agarwals-and-sail-officials-a-noticeable-nexus
There is also another dimension to sales of steel to VENKATESH INFRA PROJECTS P LTD. To get the details please click on the link below:
VENKATESH STEEL INFRA P LTD ( https://venkateshsteelinfra.com) is a Steel Stockyard Services Provider which Specializes in Cut-to-length, HR Slitting, Storing, Handling, Receipt, and Dispatch of Long & Flat Steel products.
UTTAM GALVA STEEL LIMITED now called AMNS KHOPOLI LTD, after it has been taken over by AMNS (Arcelor Mittal Nippon Sumitomo) in 2022. In June 2018, the Mumbai bench of the National Company Law Tribunal (NCLT) has admitted that SBI has filed an insolvency petition against Uttam Value Steel Ltd. The subsidiaries of Uttam Galva Steels viz. Uttam Value Steel and Uttam Galva Metallics owed banks Rs 3,200 crore and Rs 2,200 crore respectively.
(The above article has been written based on inputs from various sources including sources from SAIL)
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