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Tatra Truck Scam, an International Fraud in Defense Sector shames a habitually Corrupt Nation India

It was revealed by Army chief, General VK Singh, that there was a bribe offered of INR 14 crores. The idea was put forth by a lobbyist for a truck supplier who had provided the Indian Army with overpriced vehicles that were approximately 7,000 in number. In fact, what’s worse is that these vehicles performed poorly when they were put to use. Even though this news came to light, what shocked everyone was the fact that this supplier, Tatra, a Czech manufacturer, was not blacklisted. The trucks were provided through a Defence Public Sector Undertaking Bharat Earth Movers Ltd.
 
Defense Scam Truck Display
truckgate
The middleman in this entire fuss met General VK Singh and demanded for a clearance of another fleet of 1600 vehicles in the year 2010. This was in the month of September. This was the reason as to why the lobbyist made an offer of 14 crores. However, this rule was change in 2014 when it was declared by the Indian government that a number of manufacturers could pitch in their numbers for the contract through an open and public bidding. Now, it is obvious that this did not go down well with Tatra. After all, it had been able to maintain its monopoly for nearly 25 years. that is definitely not s short period of time. Later, it became one amongst the contenders. But as fate would have it, the contract has not been given to any supplier since then.

Corruption by Overpricing in Indian Defense Scam

For those who do not know it yet, the all-weather all-terrain trucks of Tatra are put to use when there is a need to transport missiles, artillery and troops. The manufacturing process of these bulky vehicles takes place in the Czech Republic. Please note that the expenditure was huge. This means that a truck which would cost nothing more than 40 or 50 lakhs in Europe was sold to the Indian subcontinent at an escalated price which would be double than the actual amount. If you look for similar tucks and modes of transport in the Indian context, then even a common man can easily say that Ashok Leyland and Tata Motors supply it for 16-18 lakhs. The same goes for parts of the trucks.

Message of Whistleblower

Now, even if the masses could adjust to their taxes being spent like this, it was actually all futile because the performance of these vehicles was nothing like they were supposed to be. They under performed terribly. There was a whistle blower, Anil Bakshi, who later let the cat out of the bag ad literally spilled the beans. He said that the army was not at all happy with the performance of the trucks. In fact, in 2009, 45 Tatra trucks were brought which were later found to be faulty, have damaged tyres and old batteries. That is when he had to put his foot down and said a clear no when he was approached for clearance. They just could not be put to use.

Involvement of Middlemen in Scam



TatraSipox is the middleman that is used by India in order to buy the trucks. TatraSipox is a London-based trading company. However, this is breach of the law. This means that the government rules are such that it Is necessary and mandatory that all defense equipment should be purchased directly from the manufacturer. This is where the Indian side has gone wrong. Being in the army, it is important be able to set an example for the nation and other citizens. In fact, the rules have been in written since time immemorial, but no strict action has been taken against offenders. 

FRAUD Text

 Tags:  Scam Alert, Scam, Fraud, Truck Scam, Truck gate, International Scam, Defense Scam


See also:


Ponzi Scam




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Commonwealth Games Scam

Commonwealth Games is an international meet of sports in which a number of events are held. Initially, it was known as the British Empire Games but later the name was changed and it is held in every 4 years. 
Crown Logo Showing Symbol of the British Commonwealth
British Commonwealth Games
This means that the next Commonwealth Games will be held in 2022. Athletes from the Commonwealth of Nations can participate in it. In the year 2010, it was held in India and though the nation was able to put up a spectacular show before the globe, it definitely held its head in shame internally because of the scam that followed the grand affair.
Games Resources for Commonwealth Game

Commonwealth Games shook everyone

 The President that time was Pratibha Patil while Congress was the ruling party. It is no secret that there have been a number of scams when the Congress was ruling the nation, however, the massive amount involved in the Commonwealth Games shook everyone. It totally changed the thought that India is a poor country.

It is reported that the expenditure to organize the magnificent show at Delhi was nothing less than INR 70,000 crores. There were a number of people involved behind the success and months of planning had been put in. but, here is exactly where the catch it.
 
Commonwealth Games Scam Written on Games Logi
Representing Commonwealth Games Scam
It is said that it is absolutely not true that the government actually spent so much. It is said that the officials of the government actually lied and created fake documents. There are accusations that a number of people in high posts and positions misused their power and actually presented tampered records of the expenditure done. They filled their pockets at the cost of the public. The bills and prices shown were definitely inflated. In fact, it has been investigated and actually found that just 50% of the stated amount was actually spent.

Coomonwealth Nations Games and Nation's Money Gone

The nation then wishes to know that what happened to their hard-earned money. This is because it is the taxes paid by the common man that was spent on just pomp and show. 
Global Commonwealth Games Info
The nation still demands to know that if so much can be spent on games and just to maintain the reputation of a nation on an international scale, then why can the government not take any necessary steps and utilize this money to provide education to the masses and start industries on their own so that the mass scale problem of unemployment in India can be fought back without any issues.


The CommonWealth Scam of India

In fact, this is not it. The Commonwealth scam of India has also received international news space. This was because though the officials had been careful enough to spend on the fireworks and the lights, they had miserably failed in providing adequate facilities to the sports persons.

Conclusion

In fact, the same has been the complain of India players and sportsmen who are in a field other than cricket. Since news is timely, media soon moved their focus on to other news that came up. However, the masses have not forgotten this betrayal and are not likely to let go of it either. On the contrary, Suresh Kalmadi, one of the chief suspects for the scam, was appointed as the life president of Indian Olympic Association in 2016.


Ponzi Scam

 Tags: Commonwealth, British Commonwealth, Commonwealth Games, British Empire Games, Games Scam, CG Scam, Commonwealth Games Scam


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Rotomac’s Consortium: Writing its way into the scam book with bank fraud!

 
Officer holding Rotomac Pen
Rotomac
The Central Bureau of Investigation (CBI) in India, once booked  a businessman and his family. They are based in Kanpur. The other members of his family who have been charged are his wife and his son. The amount for which they have been charged is a staggering amount that is nothing less than INR 3,695 crore. It has been reported by the media that the loan amount taken by the family was advanced by a consortium of seven banks. The recipient of this loan goes by the name of Rotomac Global Pvt Limited. This is obviously the company that is owned by the Kanpur based businessman.
Showing Fraud Symbol for Frauds in India
Bank Fraud in India

PNB involvement in Rotomac Scam

Now, this is definitely not the first time that such a scam has taken place in India. While some of the other shocking cases that have surfaced in the nation are that of Vijay Mallya and several other instances that involve top Indian politicians and bureaucrats, the latest one was the PNB scam that was related to Nirav Modi. I’m sure that you must know about it. However, for those who have been living under a rock and are aware of what had transpired, keep reading ahead. To explain it to you in short, Nirav Modi and his allies had taken loans from the Punjab National Bank (PNB) which is a public sector bank operating in the nation.

When they approached the bank again, they were asked for guarantee. However, they said that they had not needed to present any guarantee earlier either. This raised suspicion and it was noticed by a new employee of the bank that the official records had no mention of such a deal. That is when the matter was reported to the CBI and other officials from the banks were caught hold of who has allegedly transferred money without any legal procedure.

Though the matter came to light, by the time the citizens of the nation came to know about it, Nirav Modi had already left the country and fled. He is a billionaire and a jewellery designer who was mainly involved in this scam with his uncle, MehulChoksi. At present he is living overseas and action has also been tried to take but the masses still have innumerable unanswered questions.
 
Symbol of Scam Alert
Scam is no Alert in India, its Routine. Need to Curb Bank Corruption that made Entire India Corrupt
Following the Nirav Modi case is this one. According to investigation and reports, Rotomac Global Pvt Limited is the company that had taken loans of INR 2,919 crore, starting from the year 2008. This was done by a consortium of banks that were headed by the Bank of India. However, this amount later went on to become INR 3,695 crores. This definitely included the interest that had to be paid on the sum taken as loan. If you are wondering how it is possible for the interest to be so high, then you must understand that there were repeated defaults on paying back the loan. This is exactly what has been explained by the officials.

The Banks Involved in Rotomac Scam

It must be noted here itself that a total of 7 banks have been involved the case. Read ahead to find a list of the names of the banks:
  ·      Bank of India
  ·      Bank of Baroda
  ·      Overseas Bank of India
  ·      Union Bank of India
  ·      Allahabad Bank
  ·      Bank of Maharashtra
  ·      Oriental Bank of Commerce

Keep reading to find a list of the loan that had been taken: (bank wise amounts)
 ·      Bank of India: INR 754.77 crore
 ·      Bank of Baroda: INR 456.63 crore
 ·      Overseas Bank of India: INR 771.07 crore
 ·      Union Bank of India: INR 458.95
 ·      Allahabad Bank: INR 330.68 crore
 ·      Bank of Maharashtra: INR 49.82 crore
 ·      Oriental Bank of Commerce: INR 97.47 crore

According to allegations put forward by the Bank of Baroda, the loans to the company were being extended from the year 2008. Now, you must also note that the Bank of Baroda was the first bank to officially come forward and make the complaint regarding the Kanpur based businessman, Vikram Kothari, his wife Sadhana Kothari, and his son, Rahul Kothari. Also, the Bank of Baroda has not spared its employees either. This implies that unidentified officials working for the ban have also been included in the complaint because the bank too realizes that such a scam of a large scale and this big an amount is not possible without the aid of internal workers.
 
Picture Showing Secure Locks as Security Symbols
Loose Security in India Hence Only Scams, need to Beef up Security by Corrupt Bank Babus Prosecution
Three locations have been investigated so far. The aim is to find as many details as possible regarding the trio as well as their work. More details are likely to help the investigating team further. Also, it cannot be ascertained already that no other scam has been committed by the family. This is why rapid probe into the matter has been going on. This is the sole reason why the residence of the family as well as the office premises have been studied intensively so far. The three have been cross questioned by the CBI who is hell bent on reaching the core of the matter. This is why several sessions of inquiry have taken place and more such sessions are likely to follow. It is actually commendable at this point that unlike other offenders, this trio has not yet fled from the country to reside overseas and establish their name abroad.
 
Central Bureau of Investigation, India sign board
CBI Sign Board

The Stand of CBI in this Fraud

The spokesperson of CBI, Abhishek Dayal stated publicly that the total sum of the loan is INR 3,695 crores. In order to speed the process of recovery of this huge amount the home and the office premises of the Kotharis has been sealed and taken away. This means that they no longer have access to it and it not belongs to the bank since they failed to repay their loan.it is said that they actually managed to take so much loan because they stated false reasons and once they got hold of the money, they used it for different purpose other than the one stated.


Conclusion

Last but not the least, the trio has also been charged under the violation of Foreign Exchange Management Act, involvement of shell companies as well as the criminal breach of trust. 




 NB Review based on overall media information


 See also:
CoalGate Scam
Pubjab National Bank Scam
 




Tags: CoalGate, Coal Gate, Scam, Scams in India, Rotomac Scam

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