ED to probe all deals by Games organising body
The Enforcement Directorate on Thursday vastly expanded the scope of its probe into the foreign exchange transactions of the Games Organising Committee.delhi Updated: Oct 22, 2010 01:16 IST
The Enforcement Directorate on Thursday vastly expanded the scope of its probe into the foreign exchange transactions of the Games Organising Committee.
While earlier it was investigating just one deal — that with AM Films during the inauguration of the Queen’s Baton Relay in London in October 2009 — it will now look into around 100 foreign contracts entered into and payments made by the OC for evidence of possible illegal money transfers.
These include the contracts signed for the pyrotechnic (fireworks) display, the sound system, the lighting, the aerostat used at the opening and closing ceremonies and other overlays items, all of which involved foreign agencies.
In a letter sent on Wednesday evening, the ED has officially demanded records of all foreign contracts linked to the Commonwealth Games.
Sources said the OC had signed 480 contracts amounting to about Rs 1,200 crore. “Between 70 to 100 contracts were signed with overseas firms and consultants,” said a source.
“OC had approvals for foreign exchange transactions up to Rs 12 crore from the RBI,” said a senior OC functionary.