BJP donor firm named in Rs 400 crore SAIL Steel scam; CBI acts on Lokpal’s order
New Delhi: A company that donated Rs 30 crore to the Bharatiya Janata Party (BJP) via electoral bonds is at the center of a major scam involving the Steel Authority of India Limited (SAIL). According to a detailed investigation by The Wire, APCO Infratech Pvt Ltd has been named in a Central Bureau of Investigation (CBI) FIR filed in October 2024, based on findings by the Lokpal and the Central Vigilance Commission (CVC). The scam involves the illegal procurement and resale of subsidized steel worth over Rs 400 crore.
The CBI FIR alleges that APCO Infratech issued a fraudulent work experience certificate to Venkatesh Infra Projects Pvt Ltd (VIPPL), a shell company incorporated just a week before it signed a Memorandum of Understanding with SAIL in October 2020. This certificate falsely claimed that VIPPL had participated in 11 large infrastructure projects as a subcontractor under APCO – a claim later found to be fabricated.
The Wire’s Hindi report by journalist Ankit Raj, translated by Naushin Rehman, provides documentary evidence from the FIR, Lokpal's directions, and CVC findings, showing that VIPPL used this false credential to procure steel from SAIL at highly subsidized rates under the “Project MoU Scheme,” and then sold it in the open market for profit.
The National Highways Authority of India (NHAI) later confirmed to the CVC that VIPPL had no role in the projects listed. Despite this, SAIL officials approved the MoU without verifying the authenticity of the documents, enabling VIPPL to purchase over 1.1 million tonnes of steel meant for legitimate infrastructure projects.
Interestingly, between 2020 and 2023, APCO purchased electoral bonds worth Rs 30 crore – all of which were encashed by the BJP. During this same period, APCO was also awarded several infrastructure contracts by government agencies.
The whistleblower in the case, Rajiv Bhatia, a former SAIL marketing officer, raised internal alarms and eventually approached the Prime Minister’s Office. He was suspended in 2022 and later prematurely retired, even as other officials suspended in connection with the scam were reinstated after the 2024 General Elections.
The Lokpal in its January 2024 order observed: “There is prima facie material on record to indicate lack of due diligence on the part of the concerned officers of SAIL. Possible connivance of some officials with M/s VIPPL cannot be ruled out.”
SAIL has denied that any financial loss occurred and maintained that VIPPL was a legitimate dealer. However, the CVC and Lokpal reports sharply contradict this claim, pointing to coordinated fraud involving forged documentation and insider cooperation.
The CBI has begun further investigations into other companies and officials allegedly involved in similar fraudulent MoUs with SAIL.
This story is based on an original investigative report published in Hindi by The Wire, reported by Ankit Raj and translated by Naushin Rehman.
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LIVE | Election Results of five states 2026
New Delhi: The countdown has begun for the counting of votes for the Assembly elections in five states that have captured the attention of people across the country.
The counting of votes for the Assembly constituencies of West Bengal, Tamil Nadu, Kerala, Assam and the Union Territory of Puducherry will begin simultaneously at 8 am, and the fate of candidates in a total of 824 constituencies will be decided shortly.
The counting of postal ballots will take place first, followed by the counting of EVM votes in several rounds.
- Bhupen Borah, who recently left Congress and joined the BJP, is leading in Assam’s Bihpuria constituency
- Assam CM Himanta Biswa Sarma is leading in Jalukabari constituency
- BJP leader Suvendu Adhikari is leading in West Bengal’s Nandigram constituencyFive-state elections: Postal vote counting begins
- TMC, BJP lead in one seat each in West Bengal
- In Tamil Nadu, DMK leads in 3 constituencies, while TVK leads in 1
- UDF leads in 5 seats in Kerala, BJP in 1, LDF in 1
- BJP leads in 2 seats, AIUDF in 1 in Assam
- AINRC leads in 1 constituency in Puducherry
- TMC leads in 5 seats in West Bengal; Mamata Banerjee’s party maintains initial lead
- Tamil Nadu Chief Minister M.K. Stalin leads in Kolathur
- BJP takes early lead in Assam
- Congress-led UDF leads in Kerala
- In Tamil Nadu, TVK chief Vijay leads in the Perambur constituency, lags in Tiruchirappalli South
- BJP leads in 10 seats in Assam
- LDF candidate V.P.P. Mustafa leads in the Thrikkaripur Assembly constituency
- Out of 294 seats in West Bengal, BJP is leading in 14 seats, TMC in 12 seats, Congress in 2 seats
- Out of 234 seats in Tamil Nadu, DMK is leading in 15 seats, AIADMK is leading in 5 seats, TVK is leading in 2 seats
- Out of 126 seats in Assam, BJP is leading in 31 seats, Congress in 4 seats, AIUDF in 2 seats.
- Out of 30 seats in Puducherry, NRC+ is leading in 3 seats, Congress in 2 seats, TVK in 1 seat.
- Congress’ Adhir Ranjan Chowdhury suffers a setback in theBerhampore constituency in West Bengal.
