Saturday, 10 November 2012
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".
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