News In Brief

Allegations of Hologram Manufacturers Cartel in India

A petition has been filed before the Andhra Pradesh (AP) High Court seeking a Central Bureau of Investigation (CBI) inquiry into alleged corruption in the tender for the supply of security holograms to AP State Beverages Corporation.

Mr V Sivaraman from Chennai has alleged that the companies that participated in the tender formed a cartel with the active connivance of officials in the excise department, therefore causing a huge loss of revenue to the exchequer.

The tender for supplying security holograms was floated in September 2020 and subsequently allotted to Kumbhat Holographics. The other two companies that participated in the tender were Alpha Lasertek India and Holostik India. While all three companies were declared eligible in the first stage of the tender, Alpha Lasertek India and Holostik India did not satisfy the evaluation process and the tender was awarded to Kumbhat Holographics, which was the lowest bidder.