How was ₹800-cr scam undertaken by Tata firm & India’s largest container port’s ex-staff?
In an astonishing case of corporate malfeasance, former staff of Tata Consulting Engineers (TCE) and India’s largest container port, Jawaharlal Nehru Port (JNPT), have been accused of undertaking an ₹800-crore scam. The scam, which has been flagged by the Central Bureau of Investigation (CBI), has caused a cumulative loss of ₹4,200 crore to the JNPT’s dredging project.
The scam, which has been described as one of the largest in recent times, was undertaken by TCE, a Tata group firm, and the JNPT’s former staff. The accused officials chose to use a deeper 15-metre vessel draft instead of the recommended 14-metre, resulting in a loss of ₹1,163 crore. Additionally, they opted for a single rate for dredging different rock types, causing a loss of ₹557 crore.
But that was not all. The contractors also undertook dredging for an excess width, resulting in a loss of ₹964 crore. The cumulative loss, as mentioned earlier, stands at a staggering ₹4,200 crore.
The CBI has issued summons to the accused officials, who are expected to appear before the investigative agency soon. The agency has also seized documents and other evidence related to the scam, which is expected to be used as evidence in the case.
The scam came to light during an audit of the JNPT’s dredging project, which was undertaken by the TCE. The audit revealed that there were irregularities in the project, which led to a loss of crores of rupees to the port.
The JNPT is one of the largest container ports in the country, and the dredging project was undertaken to deepen the port’s draft to accommodate larger ships. The project was expected to benefit the port and the shipping industry in general.
The CBI has charged the accused officials with cheating, criminal breach of trust, and criminal conspiracy, among other charges. The agency has also charged the contractors who undertook the dredging work with cheating, criminal breach of trust, and criminal conspiracy.
The scam has sent shockwaves through the corporate world, and the Tata group has distanced itself from the accused officials. The group has said that it does not condone any kind of malfeasance and is cooperating with the authorities in the investigation.
The JNPT has also issued a statement saying that it is cooperating with the CBI and is committed to ensuring that those responsible for the scam are brought to justice.
The scam has raised questions about the lack of oversight and monitoring in the project, and the need for greater transparency and accountability in corporate dealings. It has also highlighted the need for greater vigilance and monitoring in the implementation of large-scale projects.
In conclusion, the ₹800-crore scam undertaken by Tata firm and India’s largest container port’s ex-staff is a shocking case of corporate malfeasance. The scam has caused a cumulative loss of ₹4,200 crore to the JNPT’s dredging project and has sent shockwaves through the corporate world. The accused officials are expected to appear before the CBI soon, and the agency has seized documents and evidence related to the scam.
