APSPB Vice-Chairman sees mega scam in India-Russia deal

APSPB Vice-Chairman sees mega scam in India-Russia deal

AP Planning Board Vice-Chairman C Kutumba Rao has alleged that the high-profile deal that took place between India's Essar Oil and Russian public sector company Rosneft in 2015 at the BRICS summit in Goa in 2015 is a huge scam.  

As per him, Essar Oil was valued at Rs. 3,500 CR.  And Rosneft bought it for more than Rs. 73,000.  Rao says that this is inflated valuation that involves a scam of international proportions.  

"India, Russia and China are involved in the scam. I will submit evidence to the Central Vigilance Commission (CVC) and Prime Minister’s Office (PMO) in installments (in near future)," Rao said.  

As per him, the Russian Finance Minister was arrested by the Vladimir Putin government a few months ago in connection with the big-ticket international deal. "A businessman from China was also arrested after it came to light that he had bought shares of Rosneft from a Qatar-based company. Around the same time, Prime Minister Modi made an unscheduled visit to China," Rao said.  

Rao is known for some utterances against the BJP in recent past.  For example, he recently predicted that Modi would be replaced by Nitin Gadkari after the Assembly elections to Rajasthan, Madhya Pradesh and Chhattisgarh later in 2018.