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PM Modi hits back at Rahul Gandhi over defence offset contracts during UPA regime

Addressing a rally in UP's Pratapgarh, PM Modi said, 'Today I read that during UPA, one of naamdar's business partners got defence offset contracts. Apni sarkar, dost bhi apna aur raksha sauda bhi bada yaani naamdar ke liye malai ka poora intezam tha'

twitter-logo BusinessToday.In        Last Updated: May 4, 2019  | 15:56 IST
PM Modi hits back at Rahul Gandhi over defence offset contracts during UPA regime
PM Narendra Modi

PM Narendra Modi Saturday hit back at Congress President Rahul Gandhi over reports that Gandhi's former business partner received defence offset contracts during UPA regime.

Addressing an election rally in UP's Pratapgarh, PM Modi said, "Today I read that during UPA, one of naamdar's business partners got defence offset contracts. Apni sarkar, dost bhi apna aur raksha sauda bhi bada yaani naamdar ke liye malai ka poora intezam tha (It was their government, their friend and their own defence deal.... which means they had arranged it all)".

Earlier in the day, Rahul Gandhi refuted the report that his former business partner got defence offset contracts during UPA. "Please undertake any investigation you want, do any inquiry you want, I am ready as I know I have not done anything wrong, but please also investigate Rafale," the Congress Chief replied during a press conference.

Rahul Gandhi's former business partner got defence offset contracts during UPA regime

Gandhi's reply came after BJP President Amit Shah slammed him in a tweet, over a BusinessToday.in story, alleging his company Backops Limited associated with Gandhi's former business partner Ulrik Mcknight received offset defence contracts during the UPA regime.

Shah tweeted, "With Rahul Gandhi's Midas Touch, no deal is too much. When he has a say, his business partners make hay. Doesn't matter if India suffers on the way."

Documents accessed by India Today indicate that Ulrik Mcknight received defence contracts as an offset partner of the French firm Naval Group during the UPA regime.

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According to filings made by the Backops UK, Gandhi and Mcknight were the founding directors of the company. The Congress President owned a majority of 65% equity between 2003 and 2009 before it was wound up.

On the other hand, his business partner Ulrik Mcknight owed 35% equity in the firm. According to Gandhi's election affidavit filed in 2004, he declared movable assets belonging to Backops UK, including its three bank account details. The company was dissolved in February 2009.

However, Mcknight, in 2011, went on to acquire offset contracts from French defence company Naval Group against Scorpene submarines. Additionally, Mcknight's future companies went on to benefit from the offset contracts given by the French company.

Edited by Aseem Thapliyal

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