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Monday, 30 January 2012

Vibrant Gujarat or State of ‘Fake Encounters’ & ‘Bhagoda’ Companies – Exclusive

Vibrant Gujarat or State of ‘Fake Encounters’ & ‘Bhagoda’ Companies – Exclusive 
 
On the eve of elections it needs to be clarified – Bhagoda in above means deserters. 
 
Firstly Narendra Modi didn’t achieve highest Industrial growth – it is average rate in spite of $950b MoU signed by him in ten years. Here it is obvious Narendra Modi facilitated Loot and Plunder and Encounters in Gujarat than real growth prosperity to its people and made no progress on Social Indicators like Health, Hunger, Malnutrition and Stunted Growth of people. 
 
http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13595 
 
In above growth rate of Manufacturing Registered companies was under 70% over five years 2004-05 to 2009-10 or 11% Compound Growth Rate from Rs.40,264 crores to Rs.66,206 crores, in spite of 125% Sales Tax subsidy to large industries, many states like Maharashtra, Punjab, MP, TN, Uttarkhand, achieved better growth rate. 
 
Similarly over five years 2004-05 to 2009-10 Agricultural SGDP of Gujarat expanded just 20% from Rs.30515 crores to Rs.36950 crores, this 3.6% compound growth. This is confirmed by average Monthly Per Capita Expenditure data at the end. 
 
Secondly most of the Companies located very large units just to take advantage of SUBSIDIES by Gujarat government and after availing all the benefits registered them as SEZ projects or simply relocated offices to Cayman Island or London to evade paying any taxes to Gujarat and India – hence Bhagoda or Deserter Companies.  
 
RIL refineries availed huge Tax Concessions than turned to Exports and SEZ to avoid paying taxes. 
 
ESSAR companies are now owned by ESSAR Holding Company based in Cayman Island. 
 
http://www.essar.com/upload/pdf/Essar_Profile.pdf 
HUTCH-ESSAR (VODAFONE) ESSAR STEEL, ESSAR POWER, ESSAR OIL etc all ESSAR companies are controlled from Cayman Island and London. 
 
Sterlite Group of Anil Agarwal operates from London. 
 
Tata, Adanis and many have large Foreign Operations. 
 
After fooling Narendra Modi into dolling out Huge Subsidies, Tax Concessions, Huge Bank Loans  for MEGA Projects these Bhagoda Companies neither Pay any taxes but claim all the concession negotiated with Modi directly – 
 
They don’t even live in Gujarat. 
 
ESSAR-Vodafine, 12,000 MW Power Projects, 14 Million tone Steel Complex, 30 million tones Refinery of ESSAR are controlled from London worth over $50b. 
 
ESSAR lied in Prospectus – it had not installed a single power project in three years. 
 
But like Anil Ambani power venture – that picked up Rs.12,000 crores at Rs.430 per share that trades around Rs.100, ESSAR ENERGY plc too was priced Pence 420 for Pence5 face value that trades at Pence135. 
 
Gujarat is ABODE of Bhagoda companies. 
 
Gujarat is never mentioned as Fake Encounter state led by Chief Minister himself. 
 
Ravinder Singh
January28, 2012 
 
ESSAR ENERGY plc
(Incorporated under the Companies Act 2006 (the ‘‘Companies Act’’) and registered in England and Wales with registered number 7108619)
 
http://www.thehindu.com/business/companies/article451933.ece 
Essar Energy to be listed on London's FTSE 100
SPECIAL CORRESPONDENT 
MUMBAI, June 10, 2010 
 
Essar's Ravi Ruia relocates to London; to raise $3bn
ET Bureau Apr 2, 2010
 
July 28, 2010: Essar Energy IPO prospectus. To download the report, please
 click here 
 
[The Company’s expansion projects in its power business (the ‘‘Power Plant Projects’’) are divided into two phases (the ‘‘Phase I Power Projects’’ and the ‘‘Phase II Power Projects’’) and are designed to bring total installed capacity to 11,470 MW. Its six Phase I Power Projects have an expected total installed capacity of 4,880 MW and are expected to become commercially operational between 2010 and 2012. In addition, the Company will seek to further expand its power operations through its six Phase II Power Projects which are expected to increase its installed total capacity by a further 5,370 MW and are due to become commercially operational during 2013 and 2014.]
 
In the following I found not a single unit was added by ESSAR to the grid. 
 
Generation Capacity Additions April2009- March2010
http://www.cea.nic.in/reports/monthly/executive_rep/mar10/17-20.pdf 
Generation Capacity Additions April2010- March2011
http://www.cea.nic.in/reports/monthly/executive_rep/mar11/18-21.pdf 
Generation Capacity Additions April2011- March2012
http://www.cea.nic.in/reports/monthly/executive_rep/dec11/18-20.pdf