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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Lokayukta raids on Sarfaraz Khan unearth wealth worth Rs 14.38 crore including 38 acres land
Bengaluru (PTI): The Karnataka Lokayukta on Wednesday said cooperative societies director Sardar Sarfaraz Khan was found to be possessing assets to the tune of Rs 14.38 crore.
The Lokayukta sleuths had raided at 13 locations linked to Khan including "his residences, offices and the residences of his relatives," on December 24, 2025 in a Disproportionate Assets (DA) case, according to a release.
Khan is presently working as Secretary to the government in the Housing and Minority Welfare Department. He is close to the Housing and Minority Welfare Minister, B Z Zameer Ahmed Khan.
During the searches, the Lokayukta team found him owning four houses, 37 acres of agricultural land, which is estimated to be worth Rs 8.44 crore. The team found ornaments worth Rs 3 crore, Rs 1.64 crore worth vehicles, fixed deposits and other investments worth Rs 5.94 crore, the release added.
