US firm bribed Indian PSUs for contracts: Dept of Justice to court
Press Trust of India

Posted: Thu Jul 08 2010, 02:42 hrs
Washington:

Officials of Indian PSUs like BHEL and NTPC appear to be beneficiaries of bribes that were doled out by a California-based valve company to bag lucrative contracts, mostly for tools used in the construction of power plants.

Prominent among these Indian companies are Bharat Heavy Electricals Ltd, Maharashtra State Electricity Board, Haryana State Electricity Board, National Thermal Power Corporation and Bhilai Electric, according to documents submitted by the US Department of Justice before a US court.

It is possible that the details of the beneficiaries are listed in the sealed court documents, but no names were immediately known.

California-based Control Component Inc (CCI) on June 31, 2009, pleaded guilty before the US court to having committing bribery in 36 countries from 2003 to 2007.

India, besides China, the UAE and Qatar, are some of the major countries where Control Component Inc indulged in unfair practices to bag contracts.