Tatra dismisses allegations of corruption

Last Updated: Wednesday, April 4, 2012 - 18:16

New Delhi: Makers of Tatra trucks, Tatra a.s.
of Czech Republic, on Wednesday dismissed allegations that it was
involved in corruption in supply of its vehicles to Army and
said it has no direct or indirect relationship with Indian
Army or any of its representatives.

The company said it will seek an explanation from Vectra
chairman Ravi Rishi regarding CBI`s probe against him in
connection with alleged corruption in the supply of trucks.

It also stated that neither Ravi Rishi nor his investment
company Vectra Limited, control or have controlled -- directly
or indirectly -- Tatra a.s.

"The British company Vectra Limited is a minority
stakeholder in Tatra holdings and in principle holds one of
the four votes. Nonetheless, Tatra will request from Mr Rishi
and Vectra Limited an explanation of the information about any
initiated investigation of him and Vectra Ltd by Indian
Central Bureau of Investigation (CBI) as it relates to sales
of products branded with the `Tatra` name.

"Otherwise, Tatra a.s has no responsibility for action
taken or claims made by unrelated third parties with whom it
has no relationships," it said in the statement.

It said Tatra a.s. supplies for India various truck
components ("CKDs") that make up approximately 30 to 35 per
cent of a complete vehicle.

"The remaining components are made or supplied by other
manufacturers or by BEML, an Indian government controlled
company that also assembles the Tatra branded vehicles and
then sells and delivers them to customers within India under
license agreement for Tatra a.s.," it said.

PTI



First Published: Wednesday, April 4, 2012 - 18:16
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