CBI questions Vectra chief Ravinder Rishi

The Central Bureau of Investigation (CBI) on Monday questioned Vectra chairman Ravinder Rishi in connection with alleged irregularities in supply of Tatra all-terrain trucks to the Indian Army, a day after issuing a look-out notice against him.

The 57-year-old British national, Rishi, named as an accused in CBI's FIR in alleged irregularities in purchase of the Tatra trucks, was questioned for the second time at the CBI headquarters. They said Rishi, chairman of Vectra Group, was asked about the ownership pattern of Tatra-Sipox UK and Vectra Group and reasons for changing the payment currency from dollar to euro for supplying the trucks to the army through BEML.

CBI had registered a case naming Rishi and unnamed officials of the defence ministry, army and BEML on March 30 for alleged criminal conspiracy, cheating and relevant sections of the Prevention of Corruption Act. It is probing alleged irregularities in assigning of supply from Czechoslovakia-based Tatra, with which the agreement was originally signed in 1986, to the Tatra-Sipox UK owned by Rishi in 1997 showing it as original equipment manufacturer and the fully-owned subsidiary of Czech company, they said.

A CBI spokesperson had said this was against the provisions of defence procurement procedure for supplying the vehicles to Indian Army on the orders of defence ministry.

"It is further alleged that in this manner, vehicles worth thousands of crores of rupees have been supplied to the Indian Army. In continuation of the aforesaid conspiracy to cause undue benefit to the UK-based company, the unknown officials of the defence PSU allowed change of currency from US Dollar to Euro and further by not levying the liquidated damages, thereby causing further loss of Rs 13.27 crores," the CBI spokesperon said.