Takes GSTIN on Nov 28, 2019 and starts business with SAIL  on Jan 30, 2022 at negotiated prices; End up buying over 9,500 T of TMT including 350 T of TMT Coils; SAIL got hit of Rs 3.0 CR

Vinod Gupta was also suspended on Jan 19, 2024 along with other officers for being part of the process of sales to FAKE PROJECT - Venkatesh Infra Projects P Ltd. If sources are believed, his superannuation on Apr 30, 2026 will also witness withholding of retiral benefits.

Will retiral benefits be enough to recover the loss SAIL incurred due to his indiscreet actions?

Today we take you back to our story titled “SAIL PROJECT SCAM : Genesis and how it spread like cancer in the body of SAIL” which can accessed through the following link:

https://www.bureaugram.com/news/sail-project-scam-genesis-and-how-it-spread-like-cancer-in-the-body-of-sail

The article had a mention of Vinod Gupta. In this month he is superanuating from the post of Executive Director(Commercial) of SAIL CMO on Apr 30, 2026. Gupta, being son of a 1958 batch IAS officer who was also Lt. Governor post his retirement, had a strong hold on the SAIL management. Out of 36 years of his career, about 31 years were spent by him in NCR. With the blessings of his father, he enjoyed all kinds benefits viz. desired locations, desired lucrative posts, timely promotions etc. throughout his career in SAIL. It has been gathered that due to his influence on the SAIL system, he enjoyed freedom as well as impunity.

Before getting promoted to this post Gupta was Region Manager of Southern Region of SAIL CMO. Druing his tenure he intiated the supply to the following FAKE PROJECTS.

OFCONS PROJECTS & SERVICES P LTD (30000 T); OAGRI FARM P LTD (2000 T); RAUNAQ GROUP {RALAGO ENGG P LTD and RAUNAQ FOUNDATIONS} (45,000 T); BRICK2WALL INFRATECH PVT LTD (55000 T); B.RATHISH BALAJI (10,000 T) etc. HOMEPECKED E-MARKETPLACE SERVICES P Ltd (2,000 T); IGNITE STEEL SOLUTION (4,000 T); DHANAM INDUSTRIES (4,500 T); ZETWERK MANUFACTURING BUSINESSES P Ltd (60,000 T).

In this article we are placing the details of the nefarious act of supplying over 9,500 Tonne of TMT Bars & Coils to a ‘TRADER’ turned ‘FAKE PROJECT’ – ‘B.RATHISH BALAJI’ on heavy discounts by underhandedly using the DoP & guidelines applicable for Genuine Projects. Before going to B.RATHISH BALAJI, let us first talk about RBS Group where a person named Rathish Balaji Babu is a managing partner.

RBS operates a service centre to make ready to use stirrups and bar bends which are subsequently sold in the market.

With the objective to getting TMT from SAIL on heavy discounts by underhandedly using the Project policy, B Rathish Balaji of RBS Group formed a new Proprietorship firm  “B Rathish Balaji” with Principal Place of Business as “Shop Bo. 1/44, Srimathi Complex, Pudukkottai, Main Road Tollgate, Tiruchirappalli, Tamil Nadu” 15 shops away from the registered address of RBS Groups is “Shop Bo. 1/44, Srimathi Complex, Pudukkottai, Main Road Tollgate, Tiruchirappalli, Tamil Nadu” in the same complex 15 shops away.

Nature of Core Business Activity of B Rathish Balaji is “Trader - Wholesaler/Distributor”.

GSTIN taken on Nov 28, 2019 and in two months business with SAIL started on Jan 30, 2022 as FAKE PROJECT

End up buying over 9,500 T of TMT including 350 T of TMT Coils; SAIL got hit of Rs 3.0 CR

TMT Coils are preferred by TMT service centres

Is it a mere coincidence or something more?

Supplies to B Rathish Balaji as FAKE PROJECT almost  coincided with Mahesh Chand Agrawal taking over as ED(Sales &ITD) i.e. Head of Sales in SAIL CMO in Sep 2019. Earlier Agrawal was Regional Manager of Southern Region.

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