Pune, a Branch with closed warehouse was deliberately chosen to sell steel on Direct Despatch by Road

It has been gathered that some price approvals for sales to Bharat Infra and Constructions must be given by T N Natrajan as he was also the Regional Manager there. It is noteworthy that he is the same person who has been recently been selected as Director (Commercial) of SAIL by the Search-cum-Selection Committee (SCSC) under the Ministry of Steel. It has also been gathered from sources that CBI has recently asked for a written statement from him also in the matter of dubious Project Sales to numerous firms during his tenure at Western Region.

https://www.bureaugram.com/news/name-of-t-n-natarajan-recommended-for-director-comm-sail

Bharat Infra And Constructions got its GSTIN 27AAVFB4830G1Z8 on October 14, 2019 as “Trader-Wholesaler / Distributor” and SAIL officials started supplying various steel items to it as “PROJECT” from November 2019.  Lightening Rush!

Starting from November 2019, SAIL officials went on to supply huge quantity of 40,000 Tonne of steel to Bharat Infra and Constructions at heavy discounts in the name of Project till 29 officials were suspended by Ministry of Steel on January 19, 2024 following the order dated January 10, 2024 where Lokpal handed over the sales issue of M/s Venkatesh Infra Projects P Ltd to CBI. Maximum steel was supplied Direct Despatch by Road so that the firm can very easily and economically Trade the steel anywhere in India and earn maximum profits.

Whistle Blower Rajeev Bhatia in his complaint on Venkatesh Infra Projects P Ltd specifically highlighted the timelines of incorporation of company and start of steel supply. The same have been recorded in its order dated January 10, 2024 by LOKPAL while handing over the matter to CBI.

Source : Order dated January 10, 2024 of Honourable LOKPAL of India

https://lokpalonline.gov.in/lokpalonline/cdn/web_upload/CN73,74and752023_1705052862.pdf

Got GSTIN on 14.10.2019 and supplies began from Nov’2019 as “PROJECT” i.e. in 2 weeks.

Timelines in case of BHARAT INFRA AND CONSTRUCTIONS also raises the same question as to how the firm gained the requisite work experience for the projects commensurate to consume 40,000 Tonne of steel.

Background of BHARAT INFRA AND CONSTRUCTIONS

BHARAT INFRA AND CONSTRUCTIONS is promoted by the same partners who have another firm in the name KAILASH STEEL ENTERPRISES . It is a partnership firm with four partners’ viz.  Prakash Agarwal; Preeti Agarwal;  Rakesh Agarwal and  Shiv Kumar Agarwal.

KAILASH STEEL ENTERPRISES is a Vizag based Trader and used to be a customer of SAIL. After starting buying steel from Pune branch of SAIL in BHARAT INFRA AND CONSTRUCTIONS, the firm also took a new GSTIN at the same address at which BHARAT INFRA AND CONSTRUCTIONS was registered.

Sources confirm that the start of supplies to BHARAT INFRA AND CONSTRUCTIONS as PROJECT almost  coincided with Mahesh Chand Agrawal taking over as Head of Sales in SAIL in Sep 2019. Earlier Mahesh Chand Agrawal was Regional Manager of Southern Region of CMO-SAIL from where KAILASH STEEL ENTERPRISES operated and did business with SAIL.

It would not be out of place to say that BHARAT INFRA AND CONSTRUCTIONS was incorporated / floated with the sole purpose of buying steel from SAIL at heavy discounts in the name of Projects and sell it in the open market for windfall gains. It would also not be an exaggeration to say that because of their past association, SAIL officials may have advised the promoters of KAILASH STEEL ENTERPRISES to incorporate this new firm and get heavy discounts in the name of PROJECT. LOKPAL/CBI is investigating the matter.

The modus-operandi adopted by SAIL officials with BHARAT INFRA AND CONSTRUCTIONS is the same as was adopted by in the supply of 1,50,000 Tonnes of steel to M/s Venkatesh Infra Projects P Ltd. On the directions of Lokpal of India, CBI has already registered  F.I.R. No. RC2182024A0021 on 10.10.2024 u/s 120B, 420, 468, 471 IPC and Sections 7, 9 and 12 of the P.C. Act, 1988 as amended against the erring senior officials of SAIL, M/s Venkatesh Infra Projects P Ltd and M/s APCO Infratech P Ltd.