| Suresh Nanda | |
|---|---|
| Born | Suresh Nanda June 1, 1941 India |
| Residence | India; United Arab Emerates |
| Education | Indian Institutes of Management |
| Occupation | Businessperson Investment Banker, Lt. Commander (former) |
| Spouse | Renu Nanda (present) |
| Children | Sanjeev Nanda, Sonali Nanda Punj; son-in-law Peter Punj |
| Parents | S. M. Nanda |
Suresh Nanda is an Indian businessman, former Lt. Commander for the Indian navy, arms dealer, investment banker in the UAE and owner of several companies including the firm Crown Corporation, C-1 India, Dynatron Services, and the Claridges hotels in India. [1][2] According to the Wall Street Journal his hotel has recently purchased Lohagarh Fort in India.[3] [4]
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Nanda was an ex-naval officer and is the son of S. M. Nanda, who also joined the weapons trade after his retirement. Nanda attended several well known institutions of higher education including the Indian Institutes of Management, Jawaharlal Nehru University, and the Wharton School of the University of Pennsylvania. He earned degrees in Economics, and a doctorate in Business Management.
Suresh Nanda also owns the Claridges Hotels and Resorts (CHR) group ([1]), with its flagship hotel in New Delhi, which has recently acquired the Sea-Rock hotel in Bandra, Mumbai and Lohagarh Fort.[5] Sanjeev Nanda is the chairman of the group.
Nanda was implicated in the Tehelka sting operation West End for giving bribes in at least two transactions:
On 23 October 2000, a $200 million order was placed with Israel Aircraft Industries (IAI) for seven Barak Missile systems, along with armament from RAFAEL Armament Development Authority to be installed on Indian Navy ships. Crown Corporation acted on behalf of IAI and according to excerpts from Tehelka's clandestine videos, paid 10 million rupees to R.K. Jain to get the order passed.[8]
In the First Information Report filed 9 October 2005, CBI mentioned large payments from the firm MTU Aero Engines (a supplier to Israel Aircraft Industries) into the bank accounts of Dynatron Services, a company managed by Suresh Nanda and his family members during the relevant period. The scandal resulted in Nanda serving time in prison and his passport being revolted, however, according to the media his company's business increased following these events.[9]
Suresh Nanda's son Sanjeev Nanda is currently facing charges in the BMW case. The charges against him are that he and two friends were returning from a party at three in the morning, possibly under the influence of alcohol, when they ran through a police checkpost, killing three policemen and three others before escaping. By the morning, the BMW vehicle had been traced to a friend's house where it was found while being cleaned of bloodstains and human remains.[10]