Tag Archives: Tatra Sipox

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Skeletons tumble out of Tatra-tainted Natarajan’s closet

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FRIDAY, 20 APRIL 2012 00:16 PNS | NEW DELHI HITS: 263 – The Pioneer

Under VRS Natarajan, PSU giant BEML was involved in large scale irregularities that went beyond Tatra truck deal. The CBI on Thursday registered an FIR against him for cheating and criminal conspiracy in hiring a consultancy firm without tendering process.

The noose is fast tightening around Natarajan, who has been Chairman and Managing Director of defence PSU BEML for almost a decade, with the CBI set to more cases following sanction for prosecution granted by the Defence Ministry.

At least six complaints of alleged financial misdemeanour by Natarajan is under CBI scanner.

After registering a case against Natarajan and Director of Coimbatore-based Astral Consultants CS Srivatsan for allegedly tweaking tenders to favour the private firm by cheating BEML, the CBI conducted searches at the official and residential premises of the duo at Bangalore and Coimbatore.

Natarajan, Srivatsan and other unnamed persons have been booked under Section 120-B (criminal conspiracy) and 420 (cheating) of the Indian Penal Code and certain provisions of the Prevention of Corruption Act.

The case related to award of contract for the implementation of Enterprises Resource Planning Project in the public sector undertaking during 2004-09.

According to the CBI FIR, Natarajan and Srivatsan were part of alleged criminal conspiracy to award work worth Rs40 crore to Astral Consultants.

“It is alleged that the accused persons were parties to a criminal conspiracy entered amongst themselves at Bangalore and other places during 2004-09 to cheat M/s BEML in the matter of award of different works relating to the implementation of Enterprises Resource Planning Project in M/s BEML causing wrongful loss to M/s BEML and wrongful gain to others,” a CBI spokesperson said here.

Teams of CBI officials reached the Bangalore-residence of Natarajan, residence of Srivatsan, besides Coimbatore office of Astral and took into their possession some “incriminating” documents related to the tendering process and communications exchanged with the company, CBI sources said.

Natarajan is already facing CBI heat for his suspected role in a separate case regarding alleged irregularities in the procurement and supply of Tatra all terrain vehicles to Army. Natarajan has not been named so far in the Tatra procurement scandal case but the agency suspects that he was the mastermind of the entire scam.

The agency suspects that Natarajan in collusion with Vectra boss Ravi Rishi renewed the deal between BEML and UK-based Tatra Sipox in 2003, four years before the same was to be renewed, for supply of the all terrain vehicles to the Army. Tatra Sipox, according to the CBI FIR, was an intermediary firm and not an original equipment manufacturer. The original manufacturer of the Tatra trucks is Tatra Venus and defence procurement rules provide for procurement from OEMs only.

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Money laundering in Tatra truck deal: ED tightens noose on Ravi Rishi

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Jagran Post -Posted on: 13 Apr 2012, 12:21 PM

New Delhi: After being interrogated by the CBI for his alleged role in the Tatra truck deal, the NRI businessman Ravi Rishi now has to face the heat from the Enforcement Directorate (ED), which is tightening its noose around him.

The ED has filed a case against Rishi under the Prevention of Money Laundering Act (PMLA) and is mulling to recover the blackmoney from the accused. After going through the FIR filed by the CBI and the other documents, the ED officials have now decided to look into the case from the perspective of alleged money laundering.

According to sources, the links of the Tatra truck deal have been traced to England, Czech Republic and Slovakia. Earlier, in order to ascertain the original price of the supplies and detection of blackmoney earned by Rishi during the sale of trucks to the BEML, the CBI had sought help from the ED.

On the lines of the CBI, the ED has also made Rishi, BEML, Army and Defense Ministry officials as accused in the money laundering case.

Rishi has been accused of entering into a conspiracy with the officials of the Defence Ministry, Army and BEML in signing an agreement with England based company Tatra Sipox. As per the agreement, Tatra Sipox had purchased components of trucks from Czech Republic and Slovakia and supplied it to BEML at double price.

Later, the BEML manufactured trucks from these parts and supplied them to the Army which in return made the payment to Tatra Sipox.

According to the investigating agency, a share of the blackmoney earned by Rishi in the deal was distributed to the officials of the Army, Defence Ministry and BEML. The ED is now looking for the officials involved in the scam to freeze their properties.