Ratul Puri


Ratul Puri is the Chairman of the Board of Directors of Hindustan Powerprojects. The company is currently developing power assets across coal, thermal, solar and hydro with a combined investment of USD 5.6 billion of which USD 3.1 billion has been invested in the last four years. Under his leadership, the clean energy arm has emerged as the largest solar developer in India. Ratul Puri partnered with DoIT Management, in order to support Dabang Delhi Kabaddi Club in Star Sports Pro Kabaddi League 2016.

Biography

Ratul is an alumnus of Carnegie Mellon University, the Pittsburgh-based global research university with a bachelor's degree in computer engineering, mathematics, and computer science.
Ratul in 2008 started the business of power generation with Hindustan Powerprojects.

Recognition

In 2002, Puri was the Ernst & Young "Entrepreneur of the Year" award for his contribution towards manufacturing industry in India. He is part of the many think tanks that are evolving solutions to usher energy sufficiency in India and was part of the World Economic Forum as one of the Young Global leaders. In 2007, Business Today rated him among the "Top 21 Young Leaders" in the country who could shape India’s destiny in the 21st century. Dataquest magazine has named him amongst the "Young Brigade in the IT Industry".
He was declared CMO Asia CEO of the Year award. In 2014, Ratul Puri was recognized as the ‘CEO of the year’ by World Brand Congress and acknowledged for his contribution to the infrastructure sector by ET Infrastructure

Financial irregularities, legal cases and arrest

Puri's firm Moser Baer had taken loans from various banks since 2009 and had undergone debt restructuring several times. Unable to pay the debt, the Central bank of India conducted a forensic audit on the company accounts. In April 2019, Central bank declared Moser Baer account as fraud and lodged a complaint against the company, Ratul Puri, Deepak Puri, Nita Puri and others for defrauding the bank of Rs 354.51 crores.
In another development, Puri was undergoing interrogation for a money laundering case in connection with the AgustaWestland chopper scam by Enforcement Directorate where he had claimed to be innocent. However as ED confronted him with evidences about him receiving kickbacks, Puri disappeared from the ED interrogation midway. Subsequently a non bailable warrant was issued against Puri on 9 August and eventually the Enforcement directorate arrested him on 9 September.
Subsequently in November 2019, the Enforcement Directorate filed a chargesheet against Puri and his company Moser Baer for money laundering and bank fraud in the Agusta Westland chopper scam.