TV9 Special : Tatra Scam-Accused BEML Chairman V.R.S. Natarajan in Trouble - Full

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• published: 01 May 2012
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TV9 Special : Tatra Scam-Accused BEML Chairman V.R.S. Natarajan in Trouble - Full........., . The BEML Chairman & Managing Director (CMD) V.R.S. Natarajan, who is facing a CBI inquiry and several probes, is headed for further trouble with the Bangalore police registering a case against him for allegedly conspiring to cheat a businessman to the tune of Rs.35 crore. According to Vivek Hebbar, managing director of Dream Logistics Company India Pvt Ltd, he entered into an agreement with Prasanna V Ghotage (a Belgaum-based trader and exporter) and Vaman Kumar (CEO of Pune-based Nordbell Ltd) to invest Rs.35.1 crore on iron ore trading in Karnataka. The agreement, he claimed, empowered the duo to invest the amount to procure iron ore and sell it to foreign firms. Post the sale of 1 lakh metric tons of iron ore, the duo was supposed to return the amount of Rs.35.1 crore with an assured margin of $6 per ton. In accordance with the agreement, signed in December 2010, Hebbar reportedly invested the amount on iron trade on behalf of a company started by the duo. Subsequently, the duo purchased stock of 1 lakh metric tons of iron ore, but failed to ship it citing unavailability of vessels. However, during March 2011, the duo reportedly told Hebbar that they would ship 96,500 metric tons of iron ore. Hebbar found that the duo had shipped only 71,920 metric tons of iron ore, that too of an inferior grade. Hebbar alleged that Prasanna and Vaman were hand-in-glove with Natarajan, who was reportedly in possession of the export documents, which he was not willing to hand over. He also accused Natarajan of forcing him to transfer a portion of the iron ore stock to him. This is not the first time that Natarajan's name is coming up in the case. Earlier this month, Hebbar had filed a complaint with the 7th Chief Additional Metropolitan Magistrate Court, which had directed the police to investigate the case. The Bangalore City police visited Natarajan's residence twice on Wednesday for questioning. "We cannot reveal anything at this juncture because investigation is still on," the case investigating officer said. Earlier in January, the High Court had ordered a probe into a separate incident wherein Natarajan was accused of enabling exports of iron ore through BEML without proper documentation, causing a loss of Rs.118 crore to the PSU. That complaint is also under investigation. On several occasions, politicians have questioned the role of BEML in trading iron ore because the primary mandate of the PSU is manufacturing. Only last week, the CBI had raided his offices and residence for alleged irregularities in engaging the services of a consultancy firm to implement an Enterprises Resources Planning (ERP) project. A case was registered against him under various sections of the Prevention of Corruption Act, 1988. "Natarajan was party to a criminal conspiracy during 2004-09 to cheat BEML in awarding different works relating to the implementation of ERP in BEML causing wrongful loss to the PSU and wrongful gain to others," the CBI had said. Natarajan is already under probe in connection with the BEML-Tatra Trucks deal. In March, the Chief of Army Staff, General V K Singh alleged that a retired lieutenant-general, Tejinder Singh, had offered him a bribe of Rs.14 crore to clear the purchase of 600 substandard-quality Tatra trucks. Since then, the BEML-Tatra Trucks deal has come under intense scrutiny. The CBI has already quizzed BEML officials on several occasions in connection with the deal. BEML Chairman, BEML Managing Director, V.R.S. Natarajan, BEML Natarajan, BEML Natarajan Latest News, BEML Natarajan Videos, CBI Inquiry on BEML Natarajan, Tatra Scam, Tatra Scam Accused, BEML staff, BEML-Tatra Scam, Tatra scam-accused BEML Chairman, CBI questions BEML chief, Tv9 Live News, Tv9 Online News, Tv9 Streaming News, Free Channels.