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Days before West Bengal chief minister Mamata Banerjee's visit to BAPL's airport-city project at Andal, the ownership dispute between its founding promoters seems to be once again resurfacing and getting murkier.
RS Agrawal, one of the founding promoter of BAPL today alleged that Pragati Social Infrastructure Development (PSIDL) , which incorporated the BAPL, has been "all but eliminated from shareholding of BAPL by forgery and fraud" by his fellow founding promoter, Partha Ghosh and associates.
"The aerotropolis project was originally promoted by PSIDL. PSIDL conceptualised and formulated the project. We could do that as participation of Hudco, a government-owned corporation via PSIDL facilitated the project. It had a 23.5 per cent stake. But now they own merely 1.83 per cent because of the fraud. All these matters are subjudice, but it is important for us to present the facts in public," Agrawal said.Beside their stake via PSIDL both, Ghosh and Agarwal are promoter share-holder of Pragati 47, which directly owns 9.95 per cent in BAPL currently.
Agrawal alleged that the shares of PSIDL were transferred at a value of Rs 10 each to Citystar in september 2010, while Singapore-based Changi bought the shares in 2009 for Rs 40.99 each.Besides, Agarwal is also fighting a legal battle with Partha Ghosh for AMIF's 47.5 per cent stake in Pragati 47.Ghosh, too, had retorted with counter allegations.
"Ever since the matter has been subjudice in different legal forums including Alipore Court, Company Law Board (CLB) and the High Court. Not only he has lost most of the proceedings there is a specific gag order against him from CLB not to engage with the outside world in any which so manner that is prejudicial to the interest of the company," Ghosh said in a press statement."Having learnt of the ensuing visit of the Honourable Chief Minister, to the Aerotropolis site on the 19th (September) this is his last ditch attempt to malign the BAPL promoters in public," he added.Banerjee is scheduled to visit the upcoming Andal airport at Bardhman district on Thursday to name the airport after Bengali poet Kaji Nazrul Islam.
