CBI looks into Tatra truck deal

April 11, 2012 15:43
CBI looks into Tatra truck deal

The Central Bureau of Investigation is looking into alleged profits made by Vectra company by buying Tatra all-terrain trucks for the India Army for the past one decade. For each truck, the estimated money that went into the pocket was around five lakh per truck, according to the CBI. In fact, in 2010 alone he allegedly made profits of Rs. 72 lakhs. 

Vectra company is owned by London based Ravinder Rishi and CBI has already named him as an accused in its FIR pertaining to this case. Based on the complaints received by defence ministry and other sources, Ravinder Rishi made these profits. It may also be noted that this has even violated the defense purchase norms.  The CBI has said that an estimated profit was around Rs. 250 crore to Vectra chief.

Meanwhile, Vectra chief Ravinder Rishi was in India to take part in a defence equipment exhibition where he was repeatedly questioned by the CBI pertaining to the case. The CBI is also focusing on the role of Bharat Earth Movers Limited (BEML) in making profits. It was BEML that purchased these trucks via Tatra Sipox ( a part of Vectra Group).  The specialty of these vehicles are the swinging axles that can give enough scope to manage the cargo on any kind of surface.(Phani)

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Tagged Under :
Vectra Group  Tatra Sipox  BEML  CBI  Ravinder Rishi