Press Release
New Delhi , 30.03.2012

            The Central Bureau of Investigation has registered a case U/s 120 B r/w 420 IPC and sections 13(2) r/w 13(1)(d) of PC Act, 1988 against one of the owners & other unknown persons of a UK based company; unknown officials of a Defence PSU & Ministry of Defence (Government of India) and Indian Army.


            It was alleged that unknown officials of a Govt Defence PSU entered into criminal conspiracy with one of the owners of a UK based company having a name similar to a Czech company, which was manufacturer of Military trucks . The agreement signed earlier with a Foreign Trade Corporation of Czechoslovakia for Military vehicles was fraudulently assigned to the said UK based company by showing it as the original OEM/ fully owned subsidiary of Czech company. This was against the provisions of Defence Procurement procedure for supplying the vehicles to Indian Army on the basis of the orders placed by Ministry of Defence, New Delhi.


            It is further alleged that in this manner, vehicles worth thousands of Crores have been supplied to Indian Army. In continuation of the aforesaid conspiracy to cause undue benefit to the said UK based company, the unknown officials of the Defence PSU allowed change of currency from US Dollor to Euro and further by not levying the Liquidated damages, thereby causing further loss of approximately Rs. 13.27 crores.


            Searches are being conducted today at two places in Delhi & NCR and two places in Bangalore.


            Further Investigation is in progress.