Case story

  • United Kingdom

OECD NCP UK - RAID vs. Binani

Zambia 2003

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Story

Binani, an Indian-based metalworking company that registered on the UK stock exchange, purchased the Ramco copper mine in Zambia. Ramco later went into receivership. The complaint alleged corruption and mismanagement.

Outcome

In May 2001, the UK NCP stated that it thought the complaint fit better under OECD Convention on Bribery and forwarded it to the UK Home Office. After nine months, the Home Office decided it would not pursue the case and sent it back to the NCP. In June 2003, Ramco went into receivership. The case continued against Binani in the UK, but the complainant dropped it when Ramco was liquidated.

References

OECD Watch case story page: http://oecdwatch.org/cases/Case_18

Contributor(s): This article was modified by Kyle (3), Nicolaclayre (3), and Ejfturnbull (1).