Ramesh Abhishek- Dark Deeds Jagdamba Iron & Steel Private Limited (ISPL) is a company held by relatives of Mr. Ramesh Abhishek. It has huge reserves despite the fact that the company has never earned any higher profit or has never paid any major taxes. The story of evasion of tax shall be yet another story. {et us concentrate on Jagdamba Iron & Steel Private Limited (JSPL) . The company had following shareholders as on 31.08.2018. Tablet Nanie of the Shareholder Novorahares ‘eicentaiige of Shares’ | Amount) Vijoy Shankar Agawalla 15100 41.13 1510000 ‘Manish Kumar Agarwal 250 158 425000, Manju Devi Agarwalla 300 17 130000, [Jagdamba Steel Ind, Pvt Li 11840 3225 axe 1184000. Total 35100 9667 3549000. 96.67% were held by relatives of Mr. Ramesh Abhishek. Now let us analyse as to how such shares represents in the shareholders funds in the balance sheet of the company, Tablet Particulars Tigures as at SOS | Figures OOO [Share Capital 3671500 [3671500 “Reserves and Surplus 96760855 95310810 Total OOA3TA5S [8931810 The simple analysis shows that Rs.96760355 is nothing but share premium received by the company from shareholders. This takes us to the list of shareholders. The major shareholder is Jagdamba Stee! Industries Private Limited (SIPL). On further analysing the financial statement of JSIPL, for the year ended 31.03.2018, itis seen that there has been a cross shareholding by JSIPL. into JISPL. JSIPL. holds 82.25 % of shares in JISPL. This takes us to build up of capital of JSIPL. JSIPL received various subscriptions of shares at hefty premium in year ended 31.08.2008, 31.03.2009 and 31.03.2014. All such fresh subscriptions were from “Famous” Kolkata companies and the list of such companies is given below: Tablet ‘Name ofthe Rotata Company No. ofshiares | Prenitin pershaie | Fiesent Saree OF Me RORpAR | Badrinath Commerce Private Limited | 0 2300 ‘Bhagwail Merchants Private Limited | 500 300 300 2500 “The Company i Stack OF from Balgopal Dealers Private Limited ROCas Shell Company ‘Ganpati Stock Private Limited 3) 2500 | Total 1680 11600 ReGa Crores received as E premiumIn financial year ended 31.03.2009 following more shares were allotted to Kolkata Companies at hefty premium of Rs.3000 per share ‘Tableiv Name ofthe ROTH Compa] NevaF arse ae i Paranpita Deakcom Private Limited] 8 3000 The Company i Struck Off from ROC as Shell Company Thagwali Merchants Private inited [335 3000 Anjaniputra Vinimay Private Limited [635 3000 Vaibhav Vinimay Private Limited 70 00 Badinath Commerce Private Limite —[ 340 3000 ‘Gangaur Properties Private Limited [535 3000 The company 1s non enistent ‘Vindhyawasini Vincom Private initea | 500 3000 Urch Traders Private Limited 3i0 3000 Total 1555 24000 Red3666 Crore of premium received, ‘The company JSIPL received crores of rupees from Kolkata Companies and such amounts were finally deployed by JSIPL into JISPL in FY 2008, FY 2009 and FY 2014 and such amounts were converted by layering and using Kolkata companies for converting ill gotten funds into bank fixed deposits by JISPL. This was truly “Make in India” as such premium build up was from Kolkata Companies. Many of the Kolkata Companies are either non-existing or struck down by ROC. Most of the companies have changed their business addresses and promoters and shareholders which is ‘unique to all Kolkata Companies. ‘What is interesting is that none of the Kolkata Companies are shareholders in next financial year after allotment at hefty premium and all such shares have been acquired “off market” by RAs relatives for a song. This is “Premium Stripping” in which Kolkata Companies are milched and abandoned after use, The latest shareholding pattern of JISPL as on 31.03.2018 is given in Table-t above. The latest shareholding pattern of JSIPL as on 31.03.2018 is given in Table-V below. Table-V ‘Namie of the Shareholder Tine: [Amoi] Viloy Shankar Agawalla 26500 17.07 2650000 ‘Manish Kumar Agarwal Tas833, 987, 1535000 | Sushila Devi ———aai0, 11 1821000 Jagdamba Iron &Sivel PVE Led 73775 ‘a7. 7377500 Total 133815 86.19 13381500 ‘Table-I and Table-V shows latest shareholding being held by Agarwal family of Ramesh Abhishek ‘The premium of 9.67 crores of JISPL and 9.18 crores of JSIPL is creation of “Make in Kolkata” by Mr. Ramesh Abhishek and Rs.18.85 crores is “Make in India” by family of Mr. Ramesh Abhishek. Any ‘more proofs required???R, GOPAL & ASSOCIATES OR CHARTERED ACCOUNTANTS ( 6, Rustomij Mansion, Firs Floor, Main Road, Bistupur, Jamshedpur - 831001 Teh; (0657) 242-8354/7095, Telex : (0657) 2221424, el: 9334412778 E-mail :rg3_fcal @reditimai.com AUDITORS’ REPORT TO THE MEI BERS OF JAGDAMBA IRON & STEEL PRIVATE LIMITED. |. We have audited the attached Balance Sheet of JAGDAMBA IRON & STEEL PRIVATE, LIMITED as al March 31. 2008. and also the Profit and Loss Account for the year ended on hat date annexed thereto. ‘These Gnancial statements are the responsibility of the Conipany’s inanagement, Our responsibility is to express an opinion on these finaneial statemenis based on our audit We cond (ed our audit in accordance with auditing standards generally accepted in India Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are fiee of material misstatement. An audit includes examining. on a test basis. evidence supporting the amounts and disclosures in the financial statements, An audit also includes assessing the accounting principles used and significant estimates made by the Management, as well as evaluating the overall financial statement resentation, We believe that our audit provides a reasonable basis for our opinion. As required by the Companies (Auditor's Report) Order. 2003 issued by the Central Governiment of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, sve enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 ‘oF the saic! Order to the extent applicable. 4. Further to our comments in the Annexure referred to in paragraph 3 above. we report that (i) we have oblained all the information and explanations. which to the best of our knowledge and belief were necessary for the purpose of our audit; (ii) in our opinion . proper books of account as required by law have been kept by the ‘Company so far as appears from ou examination of those books: (iii) the Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account; {iv) in our opinion, the Balance Sheet and Profit and Toss Account dealt with by this report comply with the accounting standards referred (0 in sub-section (3C) of Section 211 of the Companies Act. 1956: (») on the basis of written representations received from the directors, as on March 31. 2008. and taken on record by the Board of Directors. we report that nione of the directors is, fukela + Raipur x Ranchi + Dhanbad