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Tatra dismisses allegations of corruption

April 04, 2012 18:09 IST

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 Central Bureau of Investigatio'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 Rishi and Vectra Limited an explanation of the information about any initiated investigation of him and Vectra Ltd by Indian 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
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