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Bribing Indian Companies

By LIFS August 7, 2010 at 10:06 AM
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A California valve company bribed officials at Bharat Heavy Electricals Ltd (BHEL), Maharashtra State Electricity Board (MSEB), Haryana State Electricity Board (HSEB), National Thermal Power Corporation (NTPC) and Bhilai Electric to secure lucrative contracts, according to a court filing.

 
Control Component Inc (CCI) pleaded guilty last year to bribing officials in 36 countries between 2003 to 2007. In a recent court filing, the U.S. Department of Justice claimed that CCI transferred $163,449 to an official of a Moscow company to bribe unnamed Indian officials for securing orders from NTPC’s Sipat plant. Additional bribes of $69,012 were paid by the company to win contracts with BHEL and MSEB; $8,600 to Bhilai Electricals; $15,802 to HSEB and $15,000 to Spin Industries, J Mehta & Co and MSEB, according to media reports. 
 

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Business | Magazine | August 2010

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