Tatra Truck scam: Difference between revisions
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'''Tatra Truck scam''' is a scam that came to light in 2012. [[Tatra (company)|Tatra]] is a truck manufacturing company based in the [[Czech Republic]]. The allegation is that the [[Tatra (company)|Tatra]] trucks were sold at a very high cost to the [[Indian Army|Indian army]] through an unusual route. Following is the flow in which the Tatra deal happened. |
'''Tatra Truck scam''' is a scam that came to light in 2012. [[Tatra (company)|Tatra]] is a truck manufacturing company based in the [[Czech Republic]]. The allegation is that the [[Tatra (company)|Tatra]] trucks were sold at a very high cost to the [[Indian Army|Indian army]] through an unusual route. Following is the flow in which the Tatra deal happened. |
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* Tatra sold trucks first to a [[Hong Kong]]-based company called Venus Projects at a 35% discount. The company is the trading arm of Vectra Worldwide. If the deal had been made directly with India, the discount benefits would have been availed by the Indian army. |
* Tatra sold trucks first to a [[Hong Kong]]-based company called Venus Projects at a 35% discount. The company is the trading arm of Vectra Worldwide. If the deal had been made directly with India, the discount benefits would have been availed by the Indian army. |
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* Further, the trucks were purchased by Tatra Sipox (UK) Ltd from Venus Projects. Tatra Sipox is another subsidiary of Vectra Worldwide. |
* Further, the trucks were purchased by Tatra Sipox (UK) Ltd from Venus Projects. Tatra Sipox is another subsidiary of Vectra Worldwide. |
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* Tatra |
* Tatra Sipox sold the trucks to [[Bharat Earth Movers|BEML]], a company owned by the government of [[India]], at an inflated price after adding the profit. |
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* These trucks were then purchased by the Indian Army from BEML for a further 25 to 35 percent more.<ref>{{Cite web|url=https://www.oneindia.com/feature/tatra-scam-rs-750-crore-siphoned-off-cbi-finds-no-evidence-1510343.html|title=Tatra scam: Rs 750 crore siphoned off, CBI finds no evidence|last=Reetu|date=2014-08-27|website=oneindia.com|language=en|access-date=2019-08-29}}</ref><ref>{{Cite web|url=https://www.indianmirror.com/indian-industries/indian-scams/tatratruk.html|title=TATRA TRUCK SCAM|website=www.indianmirror.com|access-date=2019-08-29}}</ref> |
* These trucks were then purchased by the Indian Army from BEML for a further 25 to 35 percent more.<ref>{{Cite web|url=https://www.oneindia.com/feature/tatra-scam-rs-750-crore-siphoned-off-cbi-finds-no-evidence-1510343.html|title=Tatra scam: Rs 750 crore siphoned off, CBI finds no evidence|last=Reetu|date=2014-08-27|website=oneindia.com|language=en|access-date=2019-08-29}}</ref><ref>{{Cite web|url=https://www.indianmirror.com/indian-industries/indian-scams/tatratruk.html|title=TATRA TRUCK SCAM|website=www.indianmirror.com|access-date=2019-08-29}}</ref> |
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==References== |
==References== |
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{{Reflist}} |
{{Reflist}} |
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==External links== |
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*[https://brokercomplaintalert.com/how-to-avoid-trading-scams/ How To Avoid Trading Scam] |
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[[Category:Confidence tricks]] |
[[Category:Confidence tricks]] |
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[[Category:Indian Army]] |
[[Category:Indian Army]] |
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[[Category:Manmohan Singh administration]] |
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Latest revision as of 04:59, 5 June 2024
Tatra Truck scam is a scam that came to light in 2012. Tatra is a truck manufacturing company based in the Czech Republic. The allegation is that the Tatra trucks were sold at a very high cost to the Indian army through an unusual route. Following is the flow in which the Tatra deal happened.
- Tatra sold trucks first to a Hong Kong-based company called Venus Projects at a 35% discount. The company is the trading arm of Vectra Worldwide. If the deal had been made directly with India, the discount benefits would have been availed by the Indian army.
- Further, the trucks were purchased by Tatra Sipox (UK) Ltd from Venus Projects. Tatra Sipox is another subsidiary of Vectra Worldwide.
- Tatra Sipox sold the trucks to BEML, a company owned by the government of India, at an inflated price after adding the profit.
- These trucks were then purchased by the Indian Army from BEML for a further 25 to 35 percent more.[1][2]
The Indian Army (original buyer) ended up purchasing the trucks for 100 to 120 percent more than the factory price.[3] Approximately INR 170 crores cash flow into an Indian company was being predicted in relation to this scam.[4][5][6][7]
References
[edit]- ^ Reetu (2014-08-27). "Tatra scam: Rs 750 crore siphoned off, CBI finds no evidence". oneindia.com. Retrieved 2019-08-29.
- ^ "TATRA TRUCK SCAM". www.indianmirror.com. Retrieved 2019-08-29.
- ^ "FAQ: All you wanted to know about the army-Tatra scam". Rediff. Retrieved 2019-08-26.
- ^ "Tatra trucks scam: Antony admitted VK Singh told him about bribe". Firstpost. Retrieved 2019-08-29.
- ^ "Tatra deal: ED probing Rs 170 crore cash inflow". The Economic Times. 2013-03-16. Retrieved 2019-08-26.
- ^ "Rs 14-crore bribe offer to army chief exposes scam worth crores in Tatra trucks". NDTV.com. Retrieved 2019-08-26.
- ^ Pioneer, The. "Tatra truck scam: CBI gears up to finalise chargesheet". The Pioneer. Retrieved 2019-08-29.