FRIDAY, 13 APRIL 2012 00:15  PIONEER NEWS SERVICE | NEW DELHI

http://dailypioneer.com/nation/57274-ed-files-money-laundering-case-against-vectra-chief.html

The noose around Vectra chief Ravi Rishi has further tightened with the Enforcement Directorate registering a case of money laundering against him.

ED sources said the agency will probe the black money generated as a result of the deal between UK-based Tatra Sipox and defence PSU BEML and seek attachment of such assets in India after completion of the investigations.

The ED will look into the beneficiaries of the deal between Tatra Sipox and BEML for supply of the all-terrain vehicles to the Army in contravention of the defence procurement rules.

The ED will probe the supply of about 5,000 Tatra trucks from 1997 till March 2010 through alleged intermediary firm Tatra Sipox that supplied the CKDs (completely knocked-down kits) for assembly of the all-terrain vehicles.

The agency is expected to summon Rishi for questioning and may seek financial statements and tax returns of the Greater Noida-based Vectra factory.

Rishi is already facing heat from the CBI that has registered a case against him, the Vectra Group that he heads and unknown officials of Army, BEML and Defence Ministry for alleged cheating and criminal conspiracy under relevant sections of the Prevention of Corruption Act.

Rishi has been questioned a number of times after the CBI registered the case on March 30 following a reference from Defence Minister AK Antony seeking a comprehensive probe into the alleged bribe offer to Army chief General VK Singh for clearing tranche of 600 Tatra trucks.

In addition to the regular case against Rishi and others, the CBI has also registered a Preliminary Enquiry to probe the alleged bribe offer to General Singh by retired Lt Gen Tejinder Singh on behalf of Vectra boss Ravi Rishi.