Corporate Fraud

Dear, Please find attached the FIR report and a Media Draft which gives a brief synopsis of the corporate fraud that recently happened with a company. How a person, given a chief post in an organisation, commits fraud and all within the shelter of the Government officials. The story of Modern Natwarlal…

…How one takes up all the research material from the present employer, takes all his data and opens his own parallel company in competition. Thus being a well wisher of the society, i would like to request you to kindly publish this article in your esteemed media so that high professional thief like him, can be highlighted and further crimes can be stopped. For nay of your doubts of this story being real or not, i am also attaching the FIR report. Further, i do not want to come Public regarding this matter at present and would request you to keep the source secret or with your own personal name.

For any further query you can contact me through this ID. It would be my earnest endevour to serve the society through your esteemed media. Also kindly give me a confirmation of this mail and also about the release date of the same.

Regards

Well Wisher

[email protected]

Modern Natwarlals in Corporate Dilemma

Open up your daily newspaper on just about any given day and there’s a very good chance you will see an article about one or more employees caught stealing in some form from their place of employment. However defined, the end result is the same: businesses suffer a loss because an employee unlawfully takes something from an employer. On average, it takes 18 months for an employer to catch an employee who is stealing. Most employee theft comes to the attention of the employer either by another employee or is revealed by accident.

One of the same kinds of fraud came to pass with one of the pioneers of organic farming industry, International Panaacea Limited (IPL). IPL is in the business of researching, developing and manufacturing of Bio – Fertilizers and Bio – Pesticides for a long time. These products are developed over several years (6-10 years from when the research starts to when the products are ready to be sold, including registration etc.) of R&D, crores of rupees and a dedicated team of expensive scientists from across the various sectors such as soil, biotechnology etc. are kept concentrated on a particular project. In addition IPL has also developed its own training programs, methodologies for adoption and certification for organic farming and sustainable agriculture for cultivation, marketing and e-traceability etc. It takes more than three (3) years of dedicated effort to convert traditional practices into successful organic farming practices.

On August 1, 2000, the board of Directors of IPL has appointed Dr. Paikray Sitaram  Prasad as whole time director and CEO of the company wide letter dated 1st august 20,000 P.M. and also informed the duties & responsibilities. As the Esthetics of employment, one has to maintain all the secrets, strains of cultures that are researched for creating of bio-products data, training programs and methods etc. IPL has procured cultures (Micro Organisms) from various Agricultural Universities and this was monitored solely by this employee.

Only this Natwarlal represented IPL before various State Governments directly and/or through NAFED (National Agricultural Cooperative Marketing Federation of India Ltd. as a Nodal Agency, Government of India) in respect of obtaining Training Programs on Adoption & Certification of Organic Farming on Sustainable Agriculture. NAFED has submitted these joint proposals prepared by International Panaacea Limited to various State Governments like U.P., Punjab, Chhattisgarh, West Bengal, etc. What is important over here is that all these programs that were created by IPL and submitted by IPL through the Modern Natwarlal and communicated and convinced the government of the benefits of such programs to the Indian farmer, when such diligence was completed, the programs were handed over to a new unknown company by NAFED called International Traceability Systems (ITS).

The reason why this is important is because in the year 2005-06, this employee of IPL floated his own company called “Care-Pro Bioscience Pvt. Ltd” and “International Traceability Systems Limited”, wherein the employee and his wife became Directors, while working with IPL and without informing the Management of IPL about the formation of his own companies. In essence, ALL of the company’s plans, knowledge and products having been with one person at this point in time (2005), Modern Natwarlal then strategized his plans to STEAL such knowledge and products from the company to then start his own organization AT NO COST to him and started these organizations.

From IPL, Dr. Prasad got the products that had huge commercial value and were developed over a very long period of time and exceptional amounts spent on R&D, got ready to execute projects which were highly profitable which were also developed by IPL over time and huge investments, got the technical know-how and also the ready to use team which had taken IPL years to build and also after spending huge amounts to first train the people who could then be used as this was a relatively new field and strategically stole and moved these assets into his own companies that were created while still working with IPL.

In other and simpler words Dr. Prasad used IPL’s man, machine and investment funds to get business in his own company particularly “Promotion of Organic Farming and Sustainable Agriculture” in various states across India.

The concerns and the questions arises gives a boost to several common interrogation. How the activities and involvement of some government officials and agencies ruin the business plans, secrets and also the functioning of any corporate in India. Thus, these modern Natwalals of the world that does forgery and takes away all the secrets and research products from R & D, Business Plans, and technical secrets and use the same for their personal advantage.

In short, it is surprising to note that an employee drawing a salary of Rs. 20,000.00 per month has built a factory and huge business without investing a single penny on R&D, Infrastructure, etc. An FIR No. 33 dated 26.02.2011 with Barakhamba Road Police Station has been registered to conduct a detailed investigation in this matter.