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  India   All India  07 Aug 2019  ED to book Rolls Royce for money laundering

ED to book Rolls Royce for money laundering

THE ASIAN AGE.
Published : Aug 7, 2019, 3:09 am IST
Updated : Aug 7, 2019, 3:09 am IST

Sources in the agency said the money laundering probe will be initiated on the basis of CBI’s recent FIR against Rolls Royce and others.

The ED officials are in touch with CBI sleuths and the former will soon register a case under the provisions of the Preven-tion of Money Laundering Act, they added.
 The ED officials are in touch with CBI sleuths and the former will soon register a case under the provisions of the Preven-tion of Money Laundering Act, they added.

New Delhi: The Enforcement Directorate (ED) is preparing to initiate its money laundering probe against London-based Rolls Royce and its Indian subsidiary for allegedly paying over Rs 77 crore as commission to an agent to win contracts from Public Sector Undertakings, including Hindustan Aeronautics Limited (HAL), Oil and Natural Gas Corporation (ONGC) and GAIL.

Sources in the agency said the money laundering probe will be initiated on the basis of CBI’s recent FIR against Rolls Royce and others. The ED officials are in touch with CBI sleuths and the former will soon register a case under the provisions of the Preven-tion of Money Laundering Act, they added.

 

The CBI recently filed a corruption case Rolls Royce and its Indian subsidiary for allegedly engaging the services of an agent to get contracts from public sector companies in India, including HAL, ONGC and GAIL.

The case was registered after a five-year-long inquiry by the CBI, initiated on the basis of a complaint from the defence ministry which had itself received a complaint about the eng-agement of Singapore-based Ashok Patni and his company Aashmore Pvt Ltd by Rolls Royce.

The inquiry was launched on the basis of a letter to the defence ministry about the arrangement of Rolls Royce with Mr Patni which was forwarded to the CBI for a probe.

 

Tags: rolls royce, enforcement directorate