Type Public Headquarters Pune | Website www.saiprasadgroup.com Founded 2002 | |
 | ||
Industry Real estate development, Construction, Food, Energy, Media Key people Balasaheb Bhapkar
(Chairman)
Shashank Bhapkar
(MD)
Pradeep Kaul
(COO)
(Director Marketing)
Ram Oberoie | ||
Sai Prasad Corporation Ltd . (SPCL), is an Indian multinational real estate developer headquartered in Pune, India. It is engaged in the business of construction, energy, food, media, townships, housing projects, commercial premises and other related activities. The company is also engaged in processed foods, agro-products and farms, finance, media, infrastructure, energy and property projects. It is primarily focused on residential and contractual projects.
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Sai Prasad Group has a pan India presence, with 180 branches in 150 cities and over 2000 employees. In addition to their business success SPCL also endeavours to make a difference through several social initiatives. In 2013, SPCL MD, Shashank Bhapkar was presented with the Young Entrepreneur of the Year Award, by the prestigious Indo-British Business Forum, in London. Ram Oberoie the Marketing expert of the company was also presented the same award as being part of Sai Prasad. .
Investigations
In 2011, the Ministry of Corporate Affairs began investigating Sai Prasad Group for "alleged financial irregularities", according to Business Standard. In 2013, the investigation extended to the Securities and Exchange Board of India (SEBI), the Reserve Bank of India, and the economic offenses department of the police department in Goa. The company is alleged to have raised money for various businesses in an unauthorized manner. In July 2013, the SEBI ordered Sai Prasad Group to stop collecting money from the public, start any new business projects, or get rid of any assets. The company also charged Ram Oberoie and family with pocketing public funds worth 3550 crores. Sebi orders attachment of bank, demat a/cs of Sai Prasad Corp.[1]