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.[1][2]
The Indian Army (original buyer) ended up purchasing the trucks at 100 to 120 percent higher the factory price.[3] An approximate cash flow of INR 170 crores into Indian company is being predicted in relation to this scam.[4][5][6][7]
References
- ^ 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.