The issue is the appearance of four large donations of INR 50 lacs each on 5th April, 2014 on the AAP website. AAP has apparently stated that to prevent the presence of “black money” in the financing of AAP, all donations of INR 10 lacs and above are scrutinized by an internal committee. It is now alleged that AAP did not conduct sufficient diligence on these large donations. Now, however, even you can easily conduct due-diligence on these companies using the resources of Tofler.
The donations in question were received by AAP under the following details:
|Goldmine Buildcon Private Limited||INR 50 Lacs||5th April, 2014||HO414297743|
|Infolance Software Solutions Limited||INR 50 Lacs||5th April, 2014||HO414297724|
|Skyline Metal and Alloys Private Limited||INR 50 Lacs||5th April, 2014||HO414297753|
|Sunvision Agencies Private Limited||INR 50 Lacs||5th April, 2014||HO414297769|
A quick look at the list of directors of each of these companies would show that they effectively belong to the same set of people. The list of directors of each is as follows:
|Goldmine Buildcon Private Limited||Ajay Kumar Upadhyay||Yogesh Kumar||Hem Prakash Sharma||Mukesh Kumar|
|Skyline Metal and Alloys Private Limited||Ajay Kumar Upadhyay||Yogesh Kumar||Hem Prakash Sharma||Deepak Aggarwal|
|Sunvision Agencies Private Limited||Ajay Kumar Upadhyay||Yogesh Kumar||Dharmendra Kumar||Mohit|
|Infolance Software Solutions Limited||Hem Prakash Sharma||Mukesh Kumar||Dharmendra Kumar|
All these individuals are residents of Delhi, with Hem Prakash Sharma (age 26), Mukesh Kumar (age 47), Yogesh Kumar (age 28) being residents of Ganga Vihar, Delhi, Ajay Kumar Upadhyay (age 33) a resident of Shahkarpur, Delhi, Deepak Aggarwal (age 47) a resident of Rohini, Delhi and Mohit (age 22) a resident of Mayur Vihar, Delhi.
Turning to the affairs of the companies themselves. A quick summary of their auditors and financials is as follows:
|Company||Auditor||Networth on 31st March 2013, in Rupees||Net Profit
for FY 2012-13 in Rupees
|Nature of Principal Assets|
|Goldmine Buildcon Private Limited||S. Bansal and Associates||4.5 crores||-2000||Non-current Investments, Long-term loans and advances|
|Skyline Metal and Alloys Private Limited||Sudhanshu Bansal||1.58 crores||-11000||Non-current Investments, Short-term loans and advances|
|Sunvision Agencies Private Limited||S. Bansal and Associates||1.05 crores||-8000||Long-term loans and advances|
|Infolance Software Solutions Limited||S. Bansal and Associates||50 crores||-22000||Non-current Investments|
It is worth noting that all companies have the same auditor, viz. S. Bansal and Associates (Sudhanshu Bansal). Further, none of these companies seem to have any operating business to speak of (as evidenced by their profits and nature of assets). What is even more interesting is that none of these companies have filed their required annual returns with the Registrar of Companies for the year 2013-14. These documents are normally required to be filed by the end of October (in this case, 31st October, 2014).
An even more detailed due-diligence on these companies is possible using the reports and information products provided by Tofler. One can obtain copies of the official documents filed by these companies with the Registrar of Companies for just INR 100. One can even get financial overview reports for a nominal price.
The Tofler reports that are the source of information of the content above are available here: