AIRLINK 72.59 Increased By ▲ 3.39 (4.9%)
BOP 4.99 Increased By ▲ 0.09 (1.84%)
CNERGY 4.29 Increased By ▲ 0.03 (0.7%)
DFML 31.71 Increased By ▲ 0.46 (1.47%)
DGKC 80.90 Increased By ▲ 3.65 (4.72%)
FCCL 21.42 Increased By ▲ 1.42 (7.1%)
FFBL 35.19 Increased By ▲ 0.19 (0.54%)
FFL 9.33 Increased By ▲ 0.21 (2.3%)
GGL 9.82 Increased By ▲ 0.02 (0.2%)
HBL 112.40 Decreased By ▼ -0.36 (-0.32%)
HUBC 136.50 Increased By ▲ 3.46 (2.6%)
HUMNL 7.14 Increased By ▲ 0.19 (2.73%)
KEL 4.35 Increased By ▲ 0.12 (2.84%)
KOSM 4.35 Increased By ▲ 0.10 (2.35%)
MLCF 37.67 Increased By ▲ 1.07 (2.92%)
OGDC 137.75 Increased By ▲ 4.88 (3.67%)
PAEL 23.41 Increased By ▲ 0.77 (3.4%)
PIAA 24.55 Increased By ▲ 0.35 (1.45%)
PIBTL 6.63 Increased By ▲ 0.17 (2.63%)
PPL 125.05 Increased By ▲ 8.75 (7.52%)
PRL 26.99 Increased By ▲ 1.09 (4.21%)
PTC 13.32 Increased By ▲ 0.24 (1.83%)
SEARL 52.70 Increased By ▲ 0.70 (1.35%)
SNGP 70.80 Increased By ▲ 3.20 (4.73%)
SSGC 10.54 No Change ▼ 0.00 (0%)
TELE 8.33 Increased By ▲ 0.05 (0.6%)
TPLP 10.95 Increased By ▲ 0.15 (1.39%)
TRG 60.60 Increased By ▲ 1.31 (2.21%)
UNITY 25.10 Decreased By ▼ -0.03 (-0.12%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 7,566 Increased By 157.7 (2.13%)
BR30 24,786 Increased By 749.4 (3.12%)
KSE100 71,902 Increased By 1235.2 (1.75%)
KSE30 23,595 Increased By 371 (1.6%)
Business & Finance

Rolls Royce faces probe over India deals

NEW DELHI: Indian investigators have launched a criminal probe into millions of dollars paid by a Rolls Royce energy
Published July 31, 2019

NEW DELHI: Indian investigators have launched a criminal probe into millions of dollars paid by a Rolls Royce energy firm to an intermediary in connection with deals with state-owned firms in the South Asian nation, according to documents seen by AFP.

A complaint filed by the Central Bureau of Investigation, a federal agency, alleged about 11 million dollars was improperly paid to a Singapore-based consultant.

The document said officials from the Indian firms, Hindustan Aeronautics Limited (HAL), Oil and Natural Gas Corporation (ONGC) and natural gas giant GAIL -- could have been involved in corruption in the deals carried out around 2009.

It said money paid to Ashok Patni, director of Singapore-based firm Aashmore Private Ltd, could have been used for "paying kickbacks" to officials.

Patni's appointment as an "advisor" was a violation of the agreement between Rolls Royce and the government companies, the complaints said.

Rolls Royce provided engine parts to HAL to service gas turbines used by GAIL and ONGC in their energy businesses.

Rolls Royce sold its energy business to German giant Siemens in 2014.

It said in a statement that it was aware of the investigation, was awaiting an approach from the CBI and would "respond appropriately".

"We will not tolerate business misconduct of any sort and we are committed to maintaining high ethical standards and no-one currently working for Rolls-Royce in India played any part in these energy deals," said the statement, which called India "an important market for Rolls-Royce".

Copyright AFP (Agence France-Press), 2019

Comments

Comments are closed.