Sharad Pawar and a British Company – a few questions

On 17th November 2015

Reblogged from:

Sharadchandra Govindrao Pawar (born 12 December 1940) is an Indian politician who serves as the president of the Nationalist Congress Party (NCP) which he founded in 1999, after separating from the Indian National Congress. He passed 10th standard from Maharashtra Board. He previously served as the Chief Minister of Maharashtra on three separate occasions and held the posts of Minister of Defence and Minister of Agriculture in the Government of India. Pawar hails from the town of Baramati in the Pune district of Maharashtra. He is a member of the Rajya Sabha where he leads the NCP delegation. He holds a position of prominence in national politics as well as the regional politics of Maharashtra.

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 the President of 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:
SGFX Company Directors time line

SGFX Financials

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.


  • 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?

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