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BOFORSSCAM
SUBMITTED TO SUBMITTED BY
Mrs. MUTHULAXMI PRATYUSH MOHANTA
T.Y.B.B.I
ROLL NO. - 08
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MEANING
Bofors is an iron works, cannonmaker, and defence industry located inKarlskoga, Sweden. The name Bofors
is strongly associated with a 40mmanti-aircraft gun based on a Boforsdesign.
Bofors is today split in two parts: Saab Bofors Dynamics owned by
Saab
Bofors Defence owned by United
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INTRODUCTION
The Bofors scandal was a majorcorruption scandal in India in the1980s.
Prime Minister Rajiv Gandhi andseveral others were accused ofreceiving kickbacks from Bofors AB forwinning a bid to supply India's 155
mm field howitzer. It has been speculated that the scale
of the scandal was to the tune of Rs.
4000 million
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Bofors deal
The Government of India and A.B.Bofors in Sweden on March 24, 1986
for the supply of 410 field howitzers
ammunition and other accessories aspart of the 155 mm gun system at atotal cost of Rs.1,437.72 crores
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Key players in Bofors
scandal Then Prime Minister Rajiv Gandhi
Former defence secretary S. K.
Bhatnagar. The alleged middle man. Ottavio
Quattrocchi is the lone surviving suspect
in the multi-crore Bofors scandal. Win Chadha: Arms agent. He was
accused of receiving a part of the Rs 640million.
Martin Ardbo: Former Bofors chief.
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CONTRADICTIONS The deal was worth 1437.72 crore that time. Thekickbacks were sighted to be to the tune of Rs 64crore, but the probe cost Rs 250 crore, in a timespan of 18 years.
The HC ruled that the prosecution has failed toprove that the Hinduja Brothers – Gopichand,Prakashchand and Srichand – were linked to thekickbacks in the Bofors deal.
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SETBACKS
Win chadda death was a majorsetback.
Rajiv Gandhi was cleared of the bribe
case. Trial court issues "open non- bailable
arrest warrants" against Ardbo.
Former defence secretary Bhatnagardied of cancer.
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Important dates
March 24, 1986: A $1.4 billion contract between the Indiangovernment and Swedish arms company AB Bofors signedfor supply of over 400 155mm howitzers.
April 16, 1987: Swedish Radio claims Bofors paid kickbacksto top Indian politicians and key defence officials to secure
the deal. April 20, 1987: Then Indian prime minister Rajiv Gandhi
assures the Lok Sabha that neither was any middlemaninvolved in the deal nor were kickbacks paid..
January 22, 1990: Central Bureau of Investigation (CBI)registers complaint in the case.
January 26, 1990: Swiss authorities freeze bank accounts ofSvenska and AE Services, who allegedly receivedunauthorised commissions for the deal.
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November 1989: Rajiv Gandhi loses power as Congressdefeated in general elections.
November 7, 1999: Trial court issues arrest warrantsagainst Quattrocchi, while summoning other fouraccused
July 29, 2000: Trial court issues "open non- bailablearrest warrants" against Ardbo.
December 20, 2000: Quattrocchi arrested in Malaysia August 6, 2001: Former defence secretary Bhatnagar
dies of cancer. October 24, 2001: Win Chadha dies of heart attack at
his New Delhi residence. May 31, 2005: Delhi High Court clears Hindujas of
involvement in the scandal July 28, 2003: Acting on India's request, Britain freezes
Quattrocchi's bank accounts
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July 28, 2003: Acting on India's request, Britain freezes Quattrocchi's bankaccounts.
January 4, 2004: Swiss authorities agree to consider CBI's request for providingQuattrocchi's bank details.
February 4, 2004: Delhi High Court clears Rajiv Gandhi of involvement in theBofors kickbacks scandal.
May 31, 2005: Delhi High Court clears Hindujas of involvement in the scandal.
Dec 31, 2005: The CBI tells Crown Prosecution Service (CPS), London, that it hasnot been able to link the money in two accounts of Quattrocchi with the Boforskickbacks
Jan 7, 2006: Two accounts of Quattrocchi in London banks containing 3 million
euros and $1 million were defreezed after then additional solicitor general B. Duttamet the CPS lawyers.
Feb 6, 2007: Quattrocchi detained at Iguazu international airport on an Interpollookout notice.
Feb 13, 2007: CBI writes to Ministry of External Affairs for Argentinean ExtraditionAct and tells Interpol Buenos Aires that documentation being prepared forextradition proceedings.
Feb 24, 2007: Fresh warrant of arrest against Quattrocchi obtained from Delhi court
Feb 26, 2007: Quattrochhi released on bail with condition that he does not leaveArgentina.
Feb 28, 2007: Two-member CBI team to leave for Argentina.
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End of case
The Bofors saga may at last be overwith the Delhi High Court's verdictquashing the charges of criminal
conspiracy and cheating againstthe Hinduja Brothers and theBofors company
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Recent news as on feb 21
The Income Tax Appellate Tribunal(ITAT) ruled Dec 31 that Quattrocchiand his associate Win Chadha, who is
now dead, received a commission ofover Rs.412 million in the Rs.15-billionhowitzer gun deal in 1987
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Will Quattrocchi be let off?
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