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Shard Pawar&Rs 5,39,000 Crore: Address listed by SGFX (145-147, St John Street,London, EC1V 4PW) "there are 32406 companies registered:) RT
Veeresh Malik 14 hours ago
The address listed (145-147, St John Street, London, EC1V 4PW) is on all sorts of scam alert lists. As on date, "there are 32406 companies registered at 145-157 ST JOHN STREET, LONDON, ENGLAND, EC1V 4PW in Islington. 24254 companies are active, 8144 companies are dissolved and 8 companies are in liquidation."
Just search the address and everything under the sun pops up.
Just search the address and everything under the sun pops up.
The strange case of a £70 bn, UK company in which Sharad Pawar was a director http://www.moneylife.in/article/the-strange-case-of-a-70-bn-uk-company-in-which-sharad-pawar-was-a-director/44065.html …@suchetadalal
The strange case of a £70 bn UK company, in which Sharad Pawar was a director| 17/11/2015 06:05 PM | ![]()
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SGFX Financials came into existence in December 2010, had Sharad Pawar as a director for a few weeks, within months showed an injection of a breath-taking £70 bn and got dissolved in November 2012 Sharad Pawar, leader of the Nationalist Congress Party (NCP), was a director in a UK-registered company SGFX Financials Co UK Ltd, for a few weeks, reveals documents, attributed in twitter to Niraj Gunde by Bhatiya Janata Party leader Dr Subramanian Swamy.According to the UK company filing database, companieshouse.gov.uk, Mr Pawar was appointed as board member of SGFX Financials Co on 13 December 2010 and left the company on 5 January 2011. The filing also notes Mr Pawar's occupation clearly as Minister, Government of India.SGFX Financials Co's incorporation filing as on 13 December 2010, shows Mr Pawar as one of the directors at that time. Besides Mr Pawar, there are two more directors, Sarvesh Narendra Gade and Shahanaz Ashraf Bharde mentioned in the filing. It states total number of shares at 500 with nominal value of £700,755 (British pounds). While Gade held 375 shares, Bharde, who is also mentioned as company secretary, had 125 shares at a nominal value of £1401.55, the statement filed on 13 December 2010 shows. More about the directors later.On the day, when Mr Pawar left the company, there is one more filing by SGFX Financials Co, which shows its increase in its number of shares. In this filing, the number of shares allotted is stated as 4,500, takings SGFX Financials Co's total shares to 5,000 at £1401.55 per share. This took the total capital of the company to £7,007,750 (£7.00 million).According to the company filings, 2011 was a very hectic year for SGFX Financials Co. There were a lot of appointments and terminations taking place. But, most important, is that the capital was increasing very rapidly. From £7.00 million British pounds on 5 January 2011, it increased to £700.775 million on 20 March 2011. As if, this was not enough, again the capital zoomed to £70.077 billion as on 29 June 2011. In short, as soon as Mr Pawar left the company on 5 January 2011, within next five months, the capital of SGFX Financials Co grew one-lakh times to £70.077 billion from a mere £700,755. Who put in this money? Where did this money come from? Where did it vanish?Following an application from SGFX Financials Co, the UK Registrar of Companies issued a notice for dissolving the company on 14 August 2012. Three months after that SGFX Financials Co was termed as a dissolved company.Coming back to SGFX Financials Co directors, Mr Gade, as per information available in public domain, was director of three companies registered in the UK. He was appointed director SGFX Financials Co twice. He was also director of Angel Investments Co UK Ltd and Online Currency Exchange of UK Ltd. Mr Gade, born in January 1985, has mentioned his occupation as businessman, as per the information. What is interesting is that all these three companies, in which Mr Gade was a director between June 2010 and May 2013, are now dissolved. Ms Bharde, another director and company secretary of SGFX Financials Co, was born in March 1975. Similar to the Mr Gade, she too was director of Angel Investments Co UK Ltd, according to information available in public domain. ![]()
Another interesting factor in this entire episode is that all the companies registered and dissolved in the UK have their namesake companies registered in India with the same directors. For example, there is a company registered on 5 July 2013 as Online Currency Exchange of India Ltd (U74900MH2013PLC245277) with an address from Vashi Infotech Park in Navi Mumbai. Mr Gade is the common director in both the Indian and UK registered company. Only difference is that in the Indian entity, Ms Bharde’s name is mentioned as Shahanaz Sarvesh Gade. In addition, there is one more director, Razin Ashraf Bharde, who seems to be a brother of Ms Shahanaz.![]()
Even SGFX Financials Co of UK has its namesake in India registered as SGFX Financials Ltd (U65999MH2011PLC216863). This company has three directors, all associated with SGFX Financials Co of UK. Besides Mr Gade and Ms Bharde, there is Chidambareswara Rao Kalla who is mentioned as director in the Indian entity. Mr Rao Kalla was director of SGFX Financials too in the UK.
Moneylife 
SGFX Financials came into existence in December 2010, had Sharad Pawar as a director for a few weeks, within months showed an injection of a breath-taking £70 bn and got dissolved in November 2012
Sharad Pawar, leader of the Nationalist Congress Party (NCP), was a director in a UK-registered company SGFX Financials Co UK Ltd, for a few weeks, reveals documents, attributed in twitter to Niraj Gunde by Bhatiya Janata Party leader Dr Subramanian Swamy.
According to the UK company filing database, companieshouse.gov.uk, Mr Pawar was appointed as board member of SGFX Financials Co on 13 December 2010 and left the company on 5 January 2011. The filing also notes Mr Pawar's occupation clearly as Minister, Government of India.
SGFX Financials Co's incorporation filing as on 13 December 2010, shows Mr Pawar as one of the directors at that time. Besides Mr Pawar, there are two more directors, Sarvesh Narendra Gade and Shahanaz Ashraf Bharde mentioned in the filing. It states total number of shares at 500 with nominal value of £700,755 (British pounds). While Gade held 375 shares, Bharde, who is also mentioned as company secretary, had 125 shares at a nominal value of £1401.55, the statement filed on 13 December 2010 shows. More about the directors later.
On the day, when Mr Pawar left the company, there is one more filing by SGFX Financials Co, which shows its increase in its number of shares. In this filing, the number of shares allotted is stated as 4,500, takings SGFX Financials Co's total shares to 5,000 at £1401.55 per share. This took the total capital of the company to £7,007,750 (£7.00 million).
According to the company filings, 2011 was a very hectic year for SGFX Financials Co. There were a lot of appointments and terminations taking place. But, most important, is that the capital was increasing very rapidly. From £7.00 million British pounds on 5 January 2011, it increased to £700.775 million on 20 March 2011. As if, this was not enough, again the capital zoomed to £70.077 billion as on 29 June 2011. In short, as soon as Mr Pawar left the company on 5 January 2011, within next five months, the capital of SGFX Financials Co grew one-lakh times to £70.077 billion from a mere £700,755. Who put in this money? Where did this money come from? Where did it vanish?
Following an application from SGFX Financials Co, the UK Registrar of Companies issued a notice for dissolving the company on 14 August 2012. Three months after that SGFX Financials Co was termed as a dissolved company.
Coming back to SGFX Financials Co directors, Mr Gade, as per information available in public domain, was director of three companies registered in the UK. He was appointed director SGFX Financials Co twice. He was also director of Angel Investments Co UK Ltd and Online Currency Exchange of UK Ltd. Mr Gade, born in January 1985, has mentioned his occupation as businessman, as per the information. What is interesting is that all these three companies, in which Mr Gade was a director between June 2010 and May 2013, are now dissolved.
Ms Bharde, another director and company secretary of SGFX Financials Co, was born in March 1975. Similar to the Mr Gade, she too was director of Angel Investments Co UK Ltd, according to information available in public domain.
Another interesting factor in this entire episode is that all the companies registered and dissolved in the UK have their namesake companies registered in India with the same directors. For example, there is a company registered on 5 July 2013 as Online Currency Exchange of India Ltd (U74900MH2013PLC245277) with an address from Vashi Infotech Park in Navi Mumbai. Mr Gade is the common director in both the Indian and UK registered company. Only difference is that in the Indian entity, Ms Bharde’s name is mentioned as Shahanaz Sarvesh Gade. In addition, there is one more director, Razin Ashraf Bharde, who seems to be a brother of Ms Shahanaz.
Even SGFX Financials Co of UK has its namesake in India registered as SGFX Financials Ltd (U65999MH2011PLC216863). This company has three directors, all associated with SGFX Financials Co of UK. Besides Mr Gade and Ms Bharde, there is Chidambareswara Rao Kalla who is mentioned as director in the Indian entity. Mr Rao Kalla was director of SGFX Financials too in the UK.
Sharad Pawar and a British Company – a few questions
Pawar has served as the Chairman of the Board of Control for Cricket in India from 2005 to 2008 and as the president of the International Cricket Council from 2010 to 2012. On 17 June 2015, he was re-elected as president of the Mumbai Cricket Association, a position he held from 2001 to 2010 and in 2012 also.
Member of Rajya Sabha from Maharashtra from 2014, he was Chief Minister of Maharashtra during the periods 18 July 1978 – 17 February 1980, 26 June 1988 – 25 June 1991 & 6 March 1993 – 14 March 1995.
He was Minister of Agriculture during 23 May 2004 – 26 May 2014 & Minister of Consumer Affairs, Food and Public Distribution during 2004–2011 He was also President of the International Cricket Council during 2010–2012. He was Member of the Lok Sabha for Baramati during 1991–2009.
He is President Nationalist Congress Party (1999–present).
The interesting point is that he was Director in a UK based company called SGFX financial Company UK which was incorporated on 13th December 2010.The Company SGFX financials Ltd was incorporated with 145-157 St John Street, London EC1V4PW as the address.
The Company secretary was Mrs Shahanaz Ashraf Bharade and Directors are Mr. Sarvesh Narendra Gade Indian Business man [Born 1985] and Mrs Shahanaz Ashraf Bharade [Born 1975] with Indian Nationality and Sharad Chandra Govindrao Pawar [born 1940] Indian –Minister Govt of India.
The authorised capital of the company was700775 GBP with 500 shares, with Sarvesh Gade holding 375 shares at GBP and Shahanaz Bharde holding 125 shares at 1401.55 GBP per share.[total aggregating to GBP 700775]. The agent for the company was Companies Made Simple Ltd.
After this the developments are interesting/ intriguing. On 05/01/2011 namely 23 days after joining Pawar resigned as Director. So did Sarvesh Narendra Gade.
Then on 21/01/2011 namely after 16 days of his resignation Sarvesh Gade was re-appointed as Director.
Then on 16/3/2011 Chidambareshwara Rao Kalla [Born 1973] was appointed as Director. He is an Indian businessman from Vizag.
And on 18/03/2011 Mr Jitu Jeremiah [born 1983] of Israel is appointed as Director. This Jitu resigns on 28/04/2011 within a month and is reappointed as Director on 11/05/2011 – within 13 days. He again resigns on 24/05/2011 –within 13 days and get re-appointed on 15./06/2011 within 22 days.
The company is dissolved on 27/11/2012.
A timeline of the history of the Directors coming in and going out is shown below:
All these documents are accessible online at Companies House.
To quote Winston Churchill (he said this about Russia), SGFX is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key.
Questions:
- Can a cabinet minister in the Government of India be also a director in a company registered in UK? Kindly note that Pawar was the Agriculture minister at that time (A fact that is confirmed in the document).
- What was the nature of business of SGFX Financials Ltd? Was it trading in shares or weapons?
- The company’s paid up capital was raised from £7 million ($10.5 million) to £700 million ($1.05 billion) to £70 billion ($105 billion). Why did the company raise so much cash?
- Why was the Israeli Director Jitu Jeremiah having such successive short tenures – multiple resignations and re-inductions?
- Did company paid any dividends to Pawar?
The most Teflon coated leader of the country who is known as “Mr. Clean” since he has never been involved in the public knowledge in any scandal – needs to come more clean now.
Will the Chairman of Rajya Sabha, Shri Hamid Ansari take up this matter?
1. The conversion rate used is 1 GBP = 1.5 USD.