11 firms connected to OfBusiness were also camouflaged to sell over 3,00,000 Tonne of steel in the name of Projects resulting in loss of over 100 Crores to SAIL

https://bureaugram.com/news/nexus-between-ofbusiness-and-sail-officials

The officials of Steel Authority of India Limited (SAIL) reportedly sold over 60,000 Tonne of Steel Products (mainly TMT Bars) to this B2B commerce by giving heavy discounts in the name of PROJECT resulting in loss to SAIL in crores.

Majority of sales was done by Southern Region of SAIL-CMO. Financial loss accrued to SAIL is under LOKPAL/CBI investigations.

Fact Checks by ‘Bureaugram.com’:

Source: Company’s Website

It has been gathered that SAIL officials themselves allowed Brick2Wall to sell the TMT Bars by mentioning the name of the consignee(s) in the SAIL invoices issued to Brick2Wall.

A connivance transcending all boundaries:

This trading firm was not only favored by SAIL officials by giving large discounts in the name of Project but in multiple ways as and when wished by the firm. Branch Manager of SAIL-CMO Ludhiana branch issued a letter to the firm where he certified that BRICK2WALL INFRATECH PVT LTD is the sole agent for selling Billets anywhere. Such an open-ended certificate can be utilized by the firm not only in India but abroad also.

With the facts placed above by ‘Bureaugram.com’ it can be seen that the modus-operandi adopted by SAIL officials with BRICK2WALL INFRATECH PVT LTD is the same as was adopted by in the supply of 1,50,000 Tonne 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.