SAIL again found in bed with a FAKE Project and could be connected to OfBusiness, where an ED of SAIL joined.

OfBusiness used the entities set up by its employees as conduits. 

B2B platforms camouflaged as FAKE Projects by SAIL officials. 

We take you back to our story titled ‘Nexus between OfBusiness and SAIL officials’

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

OFB Tech Private Limited, operating under the brand OfBusiness, is a leading tech-enabled B2B platform founded in 2015 that connects buyers and sellers of raw materials—from steel, chemicals and cement to dry fruits, textiles and agricultural products. The Gurugram-based company also offers credit to its buyers through a separate entity called Oxyzo.

Many senior employees at OfBusiness had formed several companies that used to trade with the this B2B startup and its subsidiaries. These entities set up by its employees are considered conduits through which sales and purchase take place.

Above are B2B platforms and the same is explicitly mentioned on their website. Only SAIL officials could have unscrupulously and underhandedly masked them as 'Projects' to sell steel products on heavy discounts probably for mutual gains.

You must have recalled that Mahesh Chand Agarwal who was Executive Director (Sales & ITD) at Central Marketing Organisation of SAIL from September 2019 to July 2023, joined OfBusiness [OFB Tech P Ltd] on October 4, 2023 i.e. after superannuating from SAIL on July 31, 2023. Agarwal is one of the key officers of SAIL who is under the scanner of Lokpal/CBI. Before his superannuation the Ministry of Steel asked SAIL to initiate departmental inquiry against him but CMD-SAIL Amerandu Prakash went against the Ministry and released the retiral benefits to him.

Till that time, we were aware of 11 Fake Project firms connected to OfBusiness [OFB Tech P Ltd] to whom over 3,00,000 Tonne of steel products were sold by SAIL at heavy discounts by underhandedly using the policy and DoP applicable for genuine projects and construction companies. Estimated loss of over Rs 100 Crores in the form of illegal discounts passed have been suffered by SAIL by supplying steel to above 11 firms.

A new FAKE Project named ‘Dominus Infra Tech P Ltd’ surfaces whose directors are Arvind Guliani and Rohini Guliani. Its GSTIN is 07AAHCD2756N1Z8 with principal place of business as ‘3^rd Floor, M51, Kalkaji New Delhi’ and nature of core business activity as ‘Trader – Retailer’ and nature of business activities as ‘Retail Business’ & ‘Wholesale Business’.

It has been gathered that about 4,200 Tonne of steel products primarily TMT Bars have been sold to the firm in the name of Project inflicting an estimated loss of about 1.25 CR to SAIL.

Highlights of the supplies:

1.      Majority of the material has been shipped to firms namely Tricon Realtech P Ltd; SEC Buildtech P Ltd; R.K Infra; IRCON ISL Ltd; Universal Contractors & Engineers; Mittal Construction; R.S. Construction Company etc.

2.      SAIL officials allowed Dominus Infra Tech P Ltd to ship the steel purchased to the above firms by mentioning their names, addresses and GST numbers in the invoices issued.

3.      Point No 2 proves that SAIL officials knowingly allowed Dominus Infra Tech P Ltd to sell the steel to other firms.

Who is Arvind Guliani?

Arvind Guliani, head of sales with OfBusiness [OFB Tech P Ltd], founded Dominus Infra Tech P Ltd in May 2019.

When SAIL started business with Dominus Infra Tech P Ltd?

From Aug 2019, SAIL began supplies to Dominus Infra Tech P Ltd from its Faridabad Branch under its Branch Manager Ritesh Rituraj. Sources claim that with the SAIL PROJECT SCAM unearthing layer by layer, fearing inquiry & action, Ritesh resigned from SAIL in Sep 2024 to join Jindal Steel & Power Limited.

(The above article has been written based on extensive research and inputs from various sources including sources from SAIL)