with love to indore

Saturday, June 14, 2008

Some intresting news about MP - 2

Now this is an interesting news. As per my understanding mainstream media ( read naidunia and bhaskar ) blacked out this news. This particular group is my guess biggest liquor trader in MP and must be giving huge kickbacks to politicians.Occasional items like this keep on appearing in press and my doubt is that this happens when someone is disgruntled with the pie he receives.
This group was main sponsor of an event organized by German consulate in Indore during m school days so it means they know how to cultivate people also.
Interestingly this firm is listed and it appears FY 08 revenue was 60 crore and PAT 6 crore
News reports say they are setting up greenfield facilities in Hyderabad and Maharashtra. it seems they are third largest beer maker in India with a share of 4%. Now after making all their money from MP and causing MP government loss of huge taxes they go and set up a plant in other states!!!!
Another interesting thing is directors - one name is some Mr manoj Varshney -- something rings in the ear ???

There is naother news item
he Madhya Pradesh Housing Board’s prestigious new Thatipur township project for Gwalior has been bagged by Som Distilleries & Breweries Ltd (SDBL) in collaboration with Patel Engineering Ltd

Now this patel engineering if I am not wrong a transportation company which is Mumbai based which also does not have very good corporate governance record

Som Distilleries in Rs 100 Crore fake hologram scam
It was a very smartly planned operation and it certainly proved beneficial for the players. By involving a Kolkata-based hologram making company and some officials of the Excise Department, Som Group’s two companies – M/s Som Distilleries and Breweries Limited (SDBL) and M/s Som Distilleries Private Limited (SDPL) apparently managed to sell huge liquor straight in the market without paying any excise duty.

The matter came to light after a detailed investigation was ordered into seizure of huge amount of illicit Indian Made Foreign Liquor (IMFL) and Beer from Manpur Road and Sanver in Indore earlier this month. The investigation was conducted by the assistant excise commissioner Vinod Raghuvanshi on directives of Principal Secretary of Commercial Tax Department G P Singhal.

It was reportedly found that the Som Group companies apparently struck a deal with the Kolkata-based Hologram Company Flex, which made available fake holograms with similar number series as original to the Som Group. The Som Group companies then used these fake holograms to directly send their liquor into market without paying any Excise Duty.

The State Government, in a bid to stem the sale of illicit and spurious liquor had made the use of hologram on the bottles must. The holograms were made available to state government by the Kolkata-based company and after these holograms were numbered at Gwalior, they were distributed to the distilleries and ware houses to be stuck on each of the bottles. Each hologram cost the government six paise.

The Som Group however purchased each fake hologram with duplicated original numbers at Re 1 from the company and used to it cheat the government of Excise duty worth crores, the investigating officer Raghuvanshi has told media persons. The scam was unearthed after it was found that the holograms on the illicit liquor belonging to Som Group companies were exactly the same as original but with duplicated numbers released in advance.

The Excise Department has already booked the two companies under MP Excise Act and also the principal secretary of Commercial Tax Department has ordered registering of fraud case against the companies under Indian Penal Code

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