KYC: Oh what KYC at SBI ?
Normal Indian Citizens and Companies face numerous hassles at State Bank of India (SBI) to prove their identity and credentials to this government controlled bank. They call it their own "Know Your Customer" (KYC) protocol as mandated by India's Central Bank, Reserve Bank Of India!
One expected after all those formalities are full filled, the names would appear in proper authentic manner in their Proper manner. Remember, SBI is India's largest and oldest bank.
A name must have more than one word, but I find many single word names in SBI submitted Bond Purchaser Data. These data came from SBI's computerised records. Clear desperate last ditch efforts by SBI to hide some "high net worth individuals"(HNI) involvement in Electoral Bond Purchases.
I challenge SBI Chairman or SBI's Counsel at Supreme Court can't even pronounce these names (I will put them in Bold letters):
ABHINANDANSTOCKBROKINGPVTLTD
This entity purchased at least 48 Electoral Bonds over the period Starting from 9th April 2021 to 11th Jan 2024.
Whenever this entity purchased, they purchased multiple bonds and they were all high denomination bonds ( 1 crore or 10 lakhs, in other words each were over a million rupees in worth).
Real Name of this company Is:
Abhinandan Stock Broking Private Limited
ABNLINVESTMENTLIMITED
This company bought 9 Electoral Bonds of 1 crore each.
But SBI's KYC protocol didn't stop these sales as this word can't be pronounced in the language in which SBI has submitted its report .
Possible Real Names are:
A B N L INVESTMENT LIMITED
Or
ABNL INVESTMENT LIMITED
but which one is real?
ABNL Investment is part of Aditya Birla Group and its registered office is in Junagarh, Gujarat .
Was this an effort to hide the Aditya Birla Group's involvement in Electoral Bond purchases ? This conglomerate is "Too Big for KYC", huh, SBI?
ALEMBICPHARMACEUTICALSLINCLRTGS
Forget Harish Salve, even Shashi Tharoor can't even pronounce this word. This is SBI's attempt to obfuscating the name of Alembic Pharmaceuticals Inc.
Why? Because this Vadodara based company is actually registered in Ahmedabad, goes by the name of "Alembic Pharmaceuticals Limited" with a company Registration ID or CIN of "L24230GJ2010PLC061123"
This company is highly indebted and had to pledge assets in the past to finance its debt obligations. (Source)
Promoters have strong ties with the ruling party. They purchased 21 high denomination electoral bonds between November 2022 to July 2023. Multiple bond purchases on multiple occasions, still SBI's KYC protocol could not raise a single issue .. With such illegible and factually incorrect company name.
ARIZONAGLOBALSERVICESPVTLTDBR
Come On, SBI !
Arizona Global Services Private Limited .. But what is this trailing BR? You were selling Electoral Bonds inside India only, how did Arizona came inside this?
This must be one those Nehru place shops which are full of Patriotic Modi fans .. who have no Knowledge that Arizona comes from Spanish "Zona Arida" or "Arid Zone" in English. Now that Modi fans has started an Arizona in South Delhi, India has truly become a Vishwaguru or world Leader.. ha ha ha!
Anyway, they bought 5 Electoral Bonds worth 1 crore. I can't even think, why SBI has obfuscated their nname. No KYC for foreign sounding name, huh SBI?
ARVINDBEAUTYBRANDSRETAILPVTLTD
This must be Arvind Beauty Brands Retail, who purchased 3 bonds worth 1 crore each on 10th November 2022. This is also another Gujarat based company operating out of Ahmedabad .
ARVINDINFRACONLLP
Is this Arvind Infracon LLP? Arvind Infracon Llp is a Limited Liability Partnership firm incorporated on 04 March 2014. It is registered at Registrar of Companies, Ahmedabad. Its total obligation of contribution is Rs. 100,000.
But they bought 4 Electoral bonds worth 1 crore each.
BTW, LLP means Limited Liability Partnership.. if they don't pay back or deliver infrastructure Projects in time.. all creditors can claim is the Obligation of contributions . Sweet Isn't It.. thank Arun Jaitley for amending Companies Act and reallowing LLPs and LLCs!
Toughest Unscramble Test comes next:
BESSEGGENINFOTECHLLP
Let me show you, which Part is readable :
BESSEGGEN INFOTECH LLP
of course, I goggled about Besseggen .. it is little known mountain range in Norway!
But a search in Corporate Directory found that.. there is a company in Noida , UP..
What? N for Noida and N for Norway? Is that the link?
Is BESSEGGEN a truncated form Of "Best Second Generation"??
They bought 39 Electoral Bonds, totalling Over 7 crore.. multiple bonds on multiple occasions.. Still SBI has the wrong spelling
These names as they are printed on SBI's disclosure reports, are violations of RBI rules and SBI'S own protocol.
This shows how little sincerity SBI has in complying with Supreme Court order.
This list is so large that I have do at least another post on these mockery of SBI reports.
KYC? Ha ha ha? They must Know The Spelling to Know The Customer ..
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