Saturday, 10 November 2012

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.

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