Bright Infra Solutions: Got GSTIN of June 8, 2021; registration in SAIL on June 9, 2021; first supply as ‘Fake Project’ on June 15, 2021. Lightning speed!

Starting from June 2021, over 22,000 Tonne of steel products was sold to Bright Infra Solutions as FAKE Project, which include 19,000 Tonne of TMT Bars.

A collective failure or a collective conspiracy?

Bureaugram’s Take – The scale and the questions raised below validate that it was a calculated conspiracy where ability, competence and experience have been misused by not only manipulating the policies, guidelines, procedures & delegation of powers but their soul & spirit also.

When SAIL distributors/dealers could sell TMT Bars in the market, why FAKE Projects wanted extra discount of Rs 3,000 to 4,000 per tonne to sell TMT Bars in the same market? Was this amount shared between Fake Projects & SAIL officials?

How FAKE Projects were chosen by SAIL officials to give extra discount?

Why FAKE Projects largely belong to existing traders of SAIL?

Why multiple firms of the same promoters made FAKE Projects?

How FAKE Project firms got such projects in few days of their incorporation where large volumes of TMT Bars and other steel was consumed?

How SAIL officials allowed shipping of steel to other firms by incorporating their name as consignees in the invoices issued by SAIL to FAKE Projects?

Some of the consignees were existing customers of SAIL. Why SAIL officers gave them to FAKE Projects?

Why majority of steel given to FAKE Projects on Direct Despatch by Road? Why parity between stockyard and Direct Despatch landed price, in line with guidelines in vogue, not maintained?

Why branch/region jurisdictions were deliberately transgressed/violated by SAIL officials? Why smaller branches like Pune, Baroda, Trichy etc, some with no warehouse, were chosen to supply steel to some Fake Projects, even though they belong to the jurisdiction of other branches.

Why supplies to FAKE Projects did not stop after receiving the complaint on Venkatesh Infra Projects P Ltd from the Whistle Blower Rajeev Bhatia in Nov 2022? Why complaints were buried? Why over 3,50,000 Tonne sold after Nov 2022.

Why supplies to FAKE Projects did not stop even after reading the preliminary report of CVO-SAIL in July 2023?

Why supplies to FAKE Projects did not stop even after giving assurance to Ministry of Steel on July 31, 2023?

Why supplies to FAKE Projects did not stop even after LOKPAL order dated Jan 10, 2024?

Soma was an outsider. Though it cannot be an excuse for a board member who is governed by Companies Act and the Code of Conduct but Chakravarthy was an old hand of CMO since 1987. Why he did not stop sales to FAKE Projects after taking over as ED (Marketing) in May 2021 & Director(Commercial) in Dec 2021?

What were Government & independent directors doing sitting on SAIL board?

Why Directors, Incharge for BSP & DSP/ISP kept silent in the board & RMT meetings when their TMT Bars were fetching low NSR, denting their profitability?

How SAIL is able to sell its entire production of TMT Bars now, when FAKE Projects have been eliminated due to the untiring efforts of the Whistle Blower Rajeev Bhatia?

The journey of Bright Infra Solutions as a FAKE Project began in SAIL in June 2021 with TMT Bars from Delhi Branch of CMO within a week of joining of Abhijeet Kumar as Regional Manager of Northern Region. Earlier he had worked in NCR as Branch Manager-Ghaziabad & Regional Business Manager (Flat Products) of Northern Region. M C Agarwal, ED (Sales &ITD) during the period of supply, was also Regional Manager of Northern Region in his earlier avatar.

After Delhi, Chandigarh & Faridabad branch of Northern Region were also roped in to supply plates to the firm. The plates were shipped to INTECH ENGINEERS & STRUC RITE METAL BUILDING SYSTEMS.

In Jan 2022, the firm reaches the Jaipur branch of Western Region for TMT bars when Atul Mathur was Regional Manager of Western Region and Viney Kumar was Branch Manager-Jaipur. It is noteworthy that Mathur had worked in NCR as Regional Business Manager (Long Products Products) of Northern Region as well as Branch Manager-Jaipur.

Around July 2023, T N Natrajan took over as Regional Manager of Western Region, but supplies to the firm continued with the change of guard also.

It has been gathered that the last supply of TMT Bars was affected by Delhi Branch to the firm on Jan 20, 2024 i.e. up to the next day of suspension of 29 officers in the case of FAKE Project – Venkatesh Infra Projects P Ltd.

Starting from June 2021, over 22,000 Tonne of steel products was sold to Bright Infra Solutions as FAKE Project, which include 19,000 Tonne of TMT Bars.

Sources claim that fearing inquiry & action, Sanchit and Ritesh resigned from SAIL around Oct 2023 & Sep 2024 respectively to Join Jindal Stainless Limited and Jindal Steel & Power Limited. Had Sanchit been in service on Jan 19, 2024, he would have also been suspended for his involvement in the case of steel supplies to Venkatesh Infra Projects P Ltd.

BRIGHT INFRA SOLUTIONS is a proprietorship firm with nature of core business activity as “TRADER-WHOLESALER/DISTRIBUTOR”.

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