Hasan Ali bribed Rs 14 crore in Boeing-AI deal

Last Updated: Friday, May 20, 2011 - 12:05

Zeebiz Bureau

New Delhi: Hasan Ali Khan as a consultant had offered a commission of USD 11.5 million for a Boeing deal with Air India in 1986-87, a daily newspaper reported on Friday.

At the exchange rate then, the amount works out to over Rs 14 crore.

According to media report, this input has come on surface from the 2007 Enforcement Directorate (ED) Case Information Report filed as an annexure in the 1000-plus-page charge sheet filed recently by the ED in a special court under the Prevention of Money-Laundering Act against Khan and his associate Kashinath Tapuriah.

The report says that as consultants of Boeing Commercial Airplane Co, Seattle, USA, an amount of USD 11.5 million was earned as commission from the sale of two Boeing 727 aircraft to air India in 1986-87. The deal was worth USD 230 million.

The charge sheet mentions that the amount was not repatriated to India by RM Investments & Trading Co, a firm owned by Tapuriah. The charge sheet, however, does not specify who among the accused earned the commission.

There are clear-cut indications of corruption money involved in mega transactional deals representing commissions (which appear to be illegal) received on sale of Boeing Aircrafts held by Air India. It involves loss to the exchequer, the ED has said.

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First Published: Friday, May 20, 2011 - 12:05

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