SAIL Ka Khel – 4 : Is Chairman SAIL Bigger Than Steel Ministry?

“Nero Fiddled While Rome Burned” this quote relates well to the top management of Steel behemoth Maharatna – STEEL AUTHORITY OF INDIA LIMITED ?

Today we dwell on a new debate – Who is bigger and has more powers – The Ministry of Steel or SAIL Chairman Amarendu Prakash?

In July, 2023, the Steel Ministry, recommended to initiate RDA (Regular Departmental Action) against Executive Director for Sales & International Trade Division at SAIL, Mahesh Chand Agrawal for administrative negligence.

But the recommendation was brushed aside by the top management of SAIL, suo-moto declaring that everything done by Agarwal is in proper and genuine. One should also be aware here that Agarwal stayed in guest house of SAIL at Kolkata, for quite some time, showing off his influence and not paying a single penny towards accommodation. Sources told www.indianpsu.com that when Rajeev Bhatia, the Whistle Blower, raised the issue and it became a common talking point within the SAIL, Agarwal had to pay about Rs 6.0 lakhs, just before his retirement.

Allegations against Agrawal

A Regular Departmental Action (RDA) was recommended by Minister of State (Steel) as substantial merit was found in complaints pertaining to supplies of steel to M/s Venkatesh Infra Projects Private Limited and M/s Avon Steel Industries Private Limited and the same modus operandi was followed in case of OFBusiness – supplying of Steel to traders by illegally using the policy and DOP applicable for projects.

Insiders tell www.indianpsu.com that the whistle blower – Rajeev Bhatia sent many emails to Chairman SAIL in this regard but he simply ignored them bringing us to the conclusion that he was privy to all these grey deals going on within SAIL but choose to remain a silent spectator due to reasons better known to him.

Below is the list of 11 firms including M/s OFB Tech Private Limited, which were not doing any project, but from 2019, over 3 lakh tonnes of steel was supplied to them by SAIL by illegally using the policy and DOP applicable for projects. This matter is also pending before the office of the Lokpal.

Is Chairman SAIL, the ultimate investigating authority of the Maharatna Steel PSU and observations of the Chief Vigilance Officer, Chief Vigilance Commission, Lokpal, Steel Ministry and MoS Steel, have no relevance before the high and mighty SAIL Chairman Amarendu Prakash.

The irony is that Mahesh Chand Agrawal, who retired on 31/07/2023 and within a period of just over two month after superannuation, became the Director of the same firm – M/s OFB Tech Private Limited on 04/10/2023 – to whom he had been accused of having passed on, illegal benefits of over Rs, 100 crores. Clear cut case of Quid-Pro-Quo!?

Had SAIL Chairman, Amarendu Prakash, initiated RDA against Agrawal, he would have not been able to join M/s OFB Tech Private Limited. What was the vested interest of SAIL Chairman Amarendu Prakash in helping Agrawal ?

This is not all, Swadesh Green Infra Limited, the second company in which Agrawal became Director, is another firm which is said to have reaped profits from the unfair practices of SAIL.

Well, is this good corporate governance or something seriously dubious ?

Probably, 2024 General Election results came as a luck factor for the top brass of SAIL as there was change of guard in the Steel Ministry. Sources told www.indianpsu.com that the previous Union Minister of Steel was concerned about the corrupt practices in this Steel Maharatna. Sources further add that he was in no mood to spare those involved in the scam and was going hammer and tongs behind the corrupt practices within SAIL. But the new Minister, is perhaps, till now, not aware of all what has happened in the Steel Maharatna over the past few years.

As usual, emails sent by www.indianpsu.com to Chairman SAIL and also to the Corporate Communication Division of SAIL, were not answered to.

But “Probability said that someday we would run out of luck.” once said Gene Kranz – so lets wait and watch!

Meanwhile, the whistle blower Rajeev Bhatia runs from pillar to post seeking justice for the “grave mistake” he made to ruin his career by raising the Rs. 800 crore scam in SAIL, those accused of being part of the game, continue to rule the roost.

We Report, You decide….

To be continued