Tatra Truck scam
Tatra Truck scam is a scam that came under light in 2012. Tatra is truck manufacturing company based in Czech Republic. The scam 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 Hong Kong based company called Venus Projects at 35% discount. The company is the trading arm of Vectra Worldwide. If the deal was made directly with India, the discount benefits would be availed by the Indian army.
- Further, the trucks are purchased by Tatra Sipox (UK) Ltd from Venus projects . Tatra Sipox is again part of Vectra Worldwide.
- Tatra Spiox sells the trucks to BEML, a company owned by government of India at an inflated price after adding the profit
- These trucks are then purchased by Indian Army from BEML at further inflated price of 25 to 35 percent.
The Indian Army (original buyer) ended up purchasing the trucks at 100 to 120 percent higher the factory price.[1] An approximate cash flow of INR 170 crores into Indian company is being predicted in relation to this scam.[2][3]
Reference
- ^ "FAQ: All you wanted to know about the army-Tatra scam". Rediff. Retrieved 2019-08-26.
- ^ "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.