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ED registered case against Vectra Chief Ravi Rishi for money laundering

New Delhi, Sat, 14 Apr 2012 NI Wire

Increasing troubles for Vectra group and its Chairman Ravi Rishi, the Enforcement Directorate (ED) has registered a case of money laundering against the company and his chief for alleged irregularities in Tatra-BEML deal.

The agency registered a case on the basis an FIR filed by the CBI accusing Rishi and his firm of misrepresenting the company while dealing it with defence PSU BEML.

Vetra group, which reportedly purchases parts of all terrain Tatra Trucks from Czech company and sell it to the defence department to several countries after assembling, came into limelight when Indian Army Chief General V K Singh exposed that he was offered a bribe of Rs.14-Crore for clearing the purchase of a tranche of substandard Tatra Trucks from an ex-official of Army.

The ED may question Rishi soon and seek details of his and his firm's bank accounts, sources informed.

The CBI is looking into the BEML's deal with Tatra Sipox for purchasing the all weather trucks while ED will enquire about the real price of the deal.

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