Business

ED files Money Laundering Case against Rolls-Royce

Monali Gupta

The Enforcement Directorate (ED) has filed a corruption case against London-based aircraft engines and propulsion systems manufacturer, Rolls-Royce Plc. This action has been taken in the case of allegedly bribing Rs 75 crore to a middleman to sell cars to public sector companies in India. Prior to this, the CBI has also registered a case against Rolls-Royce Plc.

It is alleged that Rolls Royce Plc commissioned the agent to get the contract to sell the car between 2007 and 2011 from Hindustan Aeronautics Limited (HAL), Oil and Natural Gas Corporation (ONGC) and GAIL India. Under the Prevention of Money Laundering Act in this case, an FIR has been filed against Rolls-Royce Plc in July itself. An ED official told the media that, "We have lodged the ECIR based on the CBI's FIR and have started the investigation."

According to the CBI FIR, Rolls-Royce Plc paid 10 to 11 percent commission to Patni's company for a contract of Rs 286.55 crore from HAL between 2007 and 2011. Rolls-Royce gave Rs 18 crore to Patni's company as 'Commercial Advisor'. This commission was given to HAL to supply 100 Avon and Allison engines and its parts.

The HAL engine division placed purchase orders worth Rs 4,455 crore between 2000 and 2013 to Rolls-Royce Plc. Patni was the Rolls-Royce commercial advisor in India during this time. Similarly, in ONGC related business, Rolls-Royce Plc. paid commissions on 38 transactions made between 2007 and 2011. The cost of this deal was around Rs 4,700 crore.

The Wait is Over, Prabhas and Deepika's 'Kalki 2898 AD' Set to Make a Splash on This Day

Kejriwal in Jail, Wife Sunita Conducts First Roadshow in Delhi, Makes Emotional Appeal to Public

Chennai Super Kings Vs Sunrisers Hyderabad: When And Where To Watch 46th Match Of TATA IPL 2024?

Punjab: Khalistan Supporter Amritpal to Contest Lok Sabha Elections from Khadoor Sahib Seat, Currently Imprisoned in Assam Jail

BJP MP Brij Bhushan Singh Faces Setback as Court Rejects Petition Seeking Fresh Probe