Chennai: Rs 437 crore scam alleged in corpn project | Chennai News

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CHENNAI: There has been a Rs 437 crore scam in the 2015 project involving the construction of 400 stainless steel bus shelters in Chennai city, with money-laundering and favouritism causing the civic body a loss of Rs 288 crore, Arappor Iyakkam, an anti-corruption NGO, said on Saturday, charging that this was linked to former municipal administration minister S P Velumani’s associates.
The NGO, in its complaint to the Directorate of Vigilance and Anti-Corruption said Finearts Communicators India Private Limited, Shine Outdoor and Skyrams Outdoor Advertising were the only bidders for the project. Created in just 13 days, about six months before the tendering began in August 2015, they had neither technical nor financial qualifications, it said.
The firms formed a consortium with smaller companies to show eligibility on paper but the other companies were not seen once the tenders were finalised, the NGO said.
The firms initially…

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