No business ties with Verma or firm: Tytler

Cong leader says son is just a shareholder,not involved in arms dealer’s operations

Written by ENS Economic Bureau | New Delhi | Published: July 31, 2012 12:36:21 am

Congress leader Jagdish Tytler on Monday said that his son Siddhartha did not have any business relations with arms dealer Abhishek Verma or his “nefarious company”.

“My son Siddhartha or me has no direct or indirect link with any day-to-day affairs of the business of the company GT Telecom Pvt Ltd. We do no know anything more in this regard except that my son is merely a shareholder in the GT Telecom Pvt Ltd and owns 5,000 shares for Rs 10 each,” he said in a statement.

“No money is received from the foreign company i.e Ms Corewip Ltd by me or by my son. My son is neither a director in the company not an authorised signatory… He has nothing to do with the operations and management of the said company or in any way responsible for the company’s day-to-day affairs of business,” Tytler said.

Tytler,however,acknowledged knowing Verma. “I know Abhishek Verma because of his family as his parents are former members of Parliament,” he said.

On July 28,The Indian Express reported that Cyprus-based Corewip Ltd had sent a complaint to the PMO alleging that they were defrauded by Verma and Tytler’s son for $1.1 million by promising to enter into a joint venture in the name of GT Telecom. Tytler’s name also figured in one of the letters purportedly written by Verma’s mother and ex-MP Veena Verma in 2008 in which she had requested the Indian Ambassador at Romania to facilitate visas of two Romanian models for Verma’s firm.

Tytler was also questioned by the CBI recently in connection with acting as an arbitrator for Verma’s Ganton India in 2011.

Meanwhile,the CBI on Monday sent to the Home Ministry the judicial requests to the United States and Switzerland seeking records related to financial transactions of alleged front company Ganton of Verma and a Swiss defence firm Rheinmetall Air Defence AG. Through the Letters Rogatory,CBI wants to get authenticated details of financial transactions between Ganton USA,Ganton India,RAD and Verma that could stand legal scrutiny during trial.

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