NDTV Breaking News: Malhotrasons Defence Private Limited

[Drivindeath]

NDTV Breaking News

CEO Kumar Malhotrason owner of Ordinance Factory Board has struck a deal to integrate all India Arms Companies into a singular company. Malhotrasons Defence Private Limited is what the now Mega Company is being called. Malhotrasons Defence Private Limited is comprised of 11 companies into one singular entity. There are currently 10 board members with Malhotrason as the CEO and final decision maker for the company. They produce a wide range of arms and munitions ranging from land, sea, and air. The government has deemed this a complete monopoly on the Indian Defence Industry, and as such have take legal action against Malhotrason. Court proceedings are expect to take place in January. Malhotrason has been seen publicly talking with a group of 10-20 lawyers. The Indian Government see this as a potential to create a private army that could potentially take over the government. Malhotrason has denied all allegations and states that he is simply "a man of peace and wishes to provide the firepower to the nations of the free world."

The companies incorporated into the new Mega Company or "MegaCorp" consist of:
1)Bharat Dynamics Limited
2)Bharat Electronics Limited
3)Bharat Earth Movers Limited
4)Defence Research and Development Organisation
5)Garden Reach Shipbuilders & Engineers Ltd
6)Goa Shipyard Limited
7)Hindustan Aeronautics Limited
8)Mazagon Dock Shipbuilders Limited
9)Mishra Dhatu Nigam Limited
10)Ordnance Factory Board
11)Cochin Shipyard Ltd

The Indian Government is suing Malhotrasons Defence on the grounds of illegal acquisition of companies, bribery, racketeering and cohesion. Investigation is still on going and court proceedings are expected to take place in January of 1998.

 

[Drivindeath]

The Government of India has dropped all charges due to insufficient evidence. Through internal investigation from the Criminal Investigation Division (CID), the findings of the charges of illegal acquisition of companies; was unfounded, bribery; unfounded, racketeering; unfounded, and cohesion; unfounded. All cases were deemed to be closed pending further investigative leads. The companies that Malhotrasons Defence has declared to own, was deemed not true. Malhotrasons Defence has not purchased any stocks in the companies that it claimed, but rather has a deal with each company to produce its products.