Gadkari's fraud exposed

New Delhi: It all started with a sting operation on former BJP President Bangaru Laxman and now it has reached the present president Nitin Gadkari. Do not forget Yeddyurappa and company. Now pressure continues to mount on BJP President Nitin Gadkari, who is facing serious allegations of corporate fraud, with more questions being raised on the source of funds for Gadkari's Purti group.
Gadkari happens to be one of the seven promoters in the company. Interestingly, five of his close associates are directors in the 16 companies which pumped in money and gave loans to Purti. Also, the addresses of investing companies are also dodgy as 11 directors of the companies have a common address. Moreover, five of the Purti's holding firms are registered in a Mumbai slum. Four other shareholders are registered in an under-construction building meant to house slum dwellers in the city.

Corruption in BJP, Bengaru started Gadkari follows

It is not surprising to see Bharatiya Janata Party (BJP) which claimed that it is on the fore-front to fight against corruption is now backing a person accused of serious charges of corruption and mis-use of power. The party now stands fully exposed on its stance on corruption when senior BJP leader LK Advani openly supported BJP President Nitin Gadkari.
The allegations are not silly. Gadkari took a loan of 164 Rs crore from a company to whom he had given various benefits as a PWD Minister of Maharastra. Therefore, under the prevention of corruption act, if a public servant receives any kind of gratification for himself or any other person from a company with whom he has official dealings as a public servant than that amounts to corruption under prevention of corruption act.

From Bengaru to Gadkari, BJP's corrupt face exposed

Gadkari likes to call himself a social entrepreneur, and his company, Purti Sugar Ltd. is sort of cooperative that is owned by the farmers it was meant to benefit. The bulk of Purti is owned by just 18 companies. These companies invested about Rs 2-4 crore each, to form the bulk of Purti's paid up capital of Rs 68 crore. This, essentially, was Purti's start up money.
So who are these companies that financed Purti, and as a result, own it? Their balance sheets on the website of the ministry of company affairs offer very little detail. Most of the addresses are fake and non-existent. Two of the firms — Swiftsol India and Earnwell Traders — are registered at a chawl in the Mumbai suburb of Malad, surprising for companies which have invested about Rs 4 crore in Purti. None of the residents at the given addresses had heard of Swiftsol or Earnwell. The same dead end at the addresses of Chariot Investrade, Regency Equifin, Leverage Fintrade, etc scattered across suburban Mumbai and Kolkata.

Gadkari-gate: BJP's double face on corruption exposed

Gadkari said he can't remember all his 10,000 shareholders, a weak claim given that we were only asking him to reveal the identities of 18 entities that own his company. There is one investor whose identity is known. Ideal Road Builders purchased shares worth Rs 1.85 crore in Purti in 2001, just over a year after Mr Gadkari demitted office as Maharashtra's public works department minister. During his tenure, Ideal was awarded a number of contracts by the PWD department, which eventually led to it becoming one of Maharashtra's leading toll road companies. DP Mhaiskar, founder of Ideal Road Builders, also bought shares worth about Rs 2 crore in Purti. Together, IRB and Mr Mhaiskar control about 8% of Purti Group. Should a toll road company, which has received contracts under Mr Gadkari's tenure, invest in a venture set up by him, that too so soon after his demitting office?
In 2010, Purti Group received a secure loan of Rs 165 crore from a company called Global Safety Vision, which has DP Mhaiskar as its director. With this one loan, Purti was able to repay all its outstanding debt. Surprisingly, in its last regulatory filings, Global Safety Vision had only Rs 1 lakh paid up capital. Mr Gadkari said he was happy to explain. He said Mr Mhaiskar and he are close friends. So close that Mr Mhaiskar and his family put up a large chunk of their shares as collateral to raise loans for a new power project. They gave about a fourth of that loan to Purti. Where is this power project coming up? Bang next to Purti's factory. On the land sold to the Mhaiskars by Mr Gadkari.
But the BJP seems to be happy with its president and they have been strongly defending him. RSS keeps mum. When the BJP demands resignation of Congress persons, on charges of corruption, its president who is now thoroughly exposed, still remains the skipper of Team BJP. At a time when the BJP is trying to reap benefits from the allegation against Congress, it stands now completely dump-mouthed when its own captain is under scanner. There is saying which will suit BJP the most, "First introspect before raising fingers against others".

Gadkari again in trouble: Compares Swami Vivekananda with Dawood Ibrahim

BJP national leader Nitin Gadkari on Sunday evening created yet another controversy by comparing the intelligent quotients (IQ) of Swami Vivekananda with that of underworld don Dawood Ibrahim.
Speaking at the Ojaswini felicitation programme to honour leading women from various fields, Gadkari said, "The IQ of both Swami Vivekananda and Dawood Ibrahim would be similar, but their direction in life is so different. One used his intelligence for destructive purpose, to damage society and humanity with the spread of crime and terror while there was the other used his intelligence for the benefit of society. His thoughts remain an inspiration for

Revolt in BJP: Senior leaders also want Gadkari to go

In an interview to a private TV channel, senior BJP leader Ram Jethmalani said that three top party leaders Yashwant Sinha, Jaswant Singh and Shatrughan Sinha share his views that Nitin Gadkari should quit as party chief. Ram Jethmalani claimed that the three leaders are in touch with him. He also argued that no leader within the party had till now opposed his views on Gadkari.
Rajya Sabha MP Ram Jethmalani on Tuesday also said that Nitin Gadkari should resign from his post in the interest of the pary and the nation. "I don't want Nitin Gadkari as the party president for a second term," Ram Jethmalani said. He also said that Gadkari should be out of office pending probe.
Ram Jethmalani's outbursts come a day after his son Mahesh openly revolted against Nitin Gadkari and resigned from the party's national executive. He said that he fully endorsed the step taken by his son against the party chief.

Ram Jethmalani demands Gadkari's resignation

Senior BJP leader and Rajya Sabha MP Ram Jethmalani once gain put the BJP in embarrassment as he claimed that several top leaders in the party are against the continuance of Nitin Gadkari as party president. The noted lawyer on Tuesday also said that Nitin Gadkari should resign from his post in the interest of the pary and the nation. "I don't want Nitin Gadkari as the party president for a second term," Ram Jethmalani said. He also said that Gadkari should be out of office pending probe.
In an interview to a private TV channel, Ram Jethmalani said that three top party leaders Yashwant Sinha, Jaswant Singh and Shatrughan Sinha share his views that Nitin Gadkari should quit as party chief. Ram Jethmalani claimed that the three leaders are in touch with him. He also argued that no leader within the party had till now opposed his views on Gadkari.
Ram Jethmalani's outbursts come a day after his son Mahesh openly revolted against Nitin Gadkari and resigned from the party's national executive. He said that he fully endorsed the step taken by his son against the party chief.

BJP president exposed

Gadkari happens to be one of the seven promoters in the company. Interestingly, five of his close associates are directors in the 16 companies which pumped in money and gave loans to Purti. Also, the addresses of investing companies are also dodgy as 11 directors of the companies have a common address. Moreover, five of the Purti's holding firms are registered in a Mumbai slum. Four other shareholders are registered in an under-construction building meant to house slum dwellers in the city.

Nitin Gadkari exposed

A close examination of 2010-11 records show that besides IRB, a clutch of 16 companies are other significant shareholders in Purti. Notably, these companies do not exist at their registered addresses and the firms are controlled by Gadkari's close aides. The BJP chief, who is one of the seven promoters of Purti, currently holds just 310 shares worth Rs 3,100. Just like the fake addresses of the firms that invested and loaned Purti, the credentials of their directors and promoters are also intriguing. Going by the newspaper report, records of 2010-11 reveal that the directors of these investor companies included Gadkari's driver, accountant and two employees of Purti- one of which is known to be friend of his son, Nikhil. Interestingly, Gadkari's driver, Manohar Panse is a director in five of Purti's investor companies. Between 2009 and 2011, Panse was a director in six other companies.

BJP president's fraud unearthed

The BJP chief, who is one of the seven promoters of Purti, currently holds just 310 shares worth Rs 3,100. Just like the fake addresses of the firms that invested and loaned Purti, the credentials of their directors and promoters are also intriguing. Going by the newspaper report, records of 2010-11 reveal that the directors of these investor companies included Gadkari's driver, accountant and two employees of Purti- one of which is known to be friend of his son, Nikhil. Interestingly, Gadkari's driver, Manohar Panse is a director in five of Purti's investor companies. Between 2009 and 2011, Panse was a director in six other companies.
Union Minister Veerappa Moily has reportedly asked the registrar of companies to look into allegations against Gadkari. "I have heard about the allegations, shall look into the allegations to see whether books are in order, he said.

Gadkari seeks funds for his close contractors

BJP chief Nitin Gadkari has sought funds from the Union Water Ministry to be sanctioned to contractors for a dam project in the state of Maharashtra.
The Gosikhurd irrigation dam project in Vidarbha has been the focus of the BJP's attack against the state government.
In his letter, he has urged the Centre to release Rs 400 crores to the contractors of the project by saying "Due to non-payment of their dues the contractors stop their works. This may delay the programme and would also result in time overrun and delays in creation of irrigation potential."

"It is requested to recommend the project to receive funds of the year 2011-12 as per continuation proposal which is under consideration with the ministry of water resources, Govt. of India," the letter released by India Against Corruption.  
It further says, "In view of above it is requested to release the fund of year 2011-12 as requested by State Govt. of Maharashtra at an earliest".
Interestingly it has been found that Gadkari's close aide and BJP MP Ajay Sancheti has bagged a lot of funds for contracts in these projects.
Sancheti allegedly bagged contracts more than the cap of three to each firm in many other projects as well.
Earlier, RTI activist and India Against Corruption (IAC) member Anjali Damania had alleged that Gadkari had refused to raise the issue of irrigation scam as he had business links with Ajit Pawar, who was irrigation minister between 1999 and 2009, and also ex-officio chairman of the Vidarbha Irrigation Development Corporation.
"I have asked for an apology from Gadkari, he has till 5 pm today to explain why he wrote such a letter," RTI activist Anjali Damania said after the revelation.
Meanwhile, Gadkari said,"I wrote a letter for the release of payment for the irrigation project, not for any contractor."