By the Way

Petronet largesse

VOL. 14 | ISSUE 1 | MARCH-APRIL 2020

WHAT happens when a Chairman and Managing Director of a Public Sector Undertaking distribute largesse to their near and dear ones? Managing Director and CEO of Petronet LNG Prabhat Singh’s action speaks for itself. On July 12, 2016, Petronet LNG Limited (PLL) received a proposal from a firm called “Custom Made Film” for making a documentary film on PLL’s Dahej Plant at a cost of Rs. 15,81,250 inclusive of 15% service tax. PLL processed the proposal the very same day (PR No 200-141 dated 12.07.2006) and issued a work order. On August 1, 2016, PLL made an advance payment of Rs. 7,21,875. The project was delayed and the deadline was accordingly extended. PLL did not follow any tender process. An investigation revealed that a company named Custom Made Pvt Ltd was incorporated in Mumbai with Virat Singh Kumpavat (65% shares) and Roli Purinma Singh (35% shares). Ms. Roli is the elder daughter of Prabhat Singh, albeit she resigned on August 30, 2017 and transferred her shares to Lavisha V Kumpavat, wife of Virat Singh Kumpavat. On March 7, 2018, the name of the company was changed to ‘Custom Made Films Pvt Ltd’. Prabhat Singh reportedly has also really been celebrating the company’s Founder’s Day on April 2 in gala style. The 20th Foundation Celebrations was held on May 12, 2017 and the Soul of India programme was organised at Siri Fort Auditorium, New Delhi. A firm called “Giant Reel” submitted a proposal to PLL. The contract was awarded for Rs. 36.27 lakh plus 15% taxes. PLL paid Rs. 18.13 lakh as 50% advance on May 11, 2017. The firm is owned by Lavisha Virat Singh Kumpawat. She is the same person who took over the directorship of Custom Made Pvt Ltd from Mr Singh’s daughter on August 30, 2017 and also to whom his daughter sold her 35% shares. The 21st Foundation Day was organised on June 15, 2018. On June 1, 2018 the contract was awarded to Pine Tree Pictures Ltd on nomination basis at Rs. 55 lakh plus taxes. The promoter of this company is Gautam Chaturvedi who is reportedly a friend of Prabhat Singh and his family. gfiles contacted PLL’s spokesperson but he could not reply to any allegations. gfiles end logo

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