KGB-India buses deal link: the real story behind Ram Tumuluri’s project revealed

10:53 PM | 3 Jul, 2023
KGB-India buses deal link: the real story behind Ram Tumuluri’s project revealed

A German businessman with KGB and Vladimir Putin links is a partner in the major Indian Rs2,800-crore electric buses deal with the controversial Indian-Canadian businessman Sri Ram Tumuluri who has been in news linked with several scandals, the Tricity Daily publication reported. 

Investigation in Tricity reveals that Sri Ram Tumuluri’s German national partner Thomas-Christan Seitz is known for close ties with Kremlin and has worked for the interests of Russia’s feared spy agency KGB - now called Foreign Intelligence Service (SVR). 

Two years ago, Ram Tumuluri’s England & Wales registered Causis Group Ltd won a tender for supplying The Brihanmumbai Electric Supply and Transport (BEST) with 1,400 electric vehicles. Causis, registered in the UK but without any operations, is wholly owned by Tumuluri. Its operating entity is India-registered Causis E-Mobility Pvt Ltd. While on paper it is owned by its directors Marudur Subramanyam Chandrasekar and Ravi Kumar Panga, Causis E-Mobility is in reality controlled by Tumuluri. 

Revelations that Causis Group Ltd has links with the Russian intelligence and Kremlin are alarming. According to a forensic study by the publication, Causis acquired a 100% stake of German-registered Eurabus GmbH in September 2021. Eurabus was founded and formerly owned by Thomas-Christan Seitz. Eurabus have previously claimed to be in the process of opening EV factories in Azerbaijan, Kazakhstan, Georgia and possibly Tanzania. 

Causis Group Ltd was incorporated in England and Wales on 11 June 2021 under company number 13452464 and the company is 100% owned by Jersey-incorporated New Horizons Investments Limited, which in is turn 100% owned by Tumuluri, papers show. Causis Group’s statutory Directors are Tumuluri, Peter Knez, Charles Paul Rowan, Thomas-Christian Seitz and Gary Anthony Dugan. 

Examination of original German corporate filings reveals that Eurabus GmbH was registered on 02 July 2015 under company number HRB 168446B. Eurabus GmbH’s initial share capital was €25,000 and was 100% owned by Euracom Group GmbH, a company managed and controlled by Seitz. On 31 October 2019, Eurabus GmbH increased its share capital to €1.105 million. On 30 September 2021 Causis Group Ltd acquired 100% stake in Eurabus GmbH from Euracom Group GmbH. 

Seitz, currently registered as resident in an upper class former East Berlin area, grew up in the former German Democratic Republic (GDR) and attended the infamous Moscow State Institute of International Relations (MGIMO), where 50% of the graduates are alleged to have gone into the Soviet diplomatic service and 50% into the KGB, said the publication.

A journalist who knew of Seitz and wrote a story about him and his activities in 2008 noted that Seitz graduated from the MGIMO in 1992. The journalist’s article, entitled “The Russians are Coming” in the daily newspaper Die Welt, described Seitz as associated with two Russian “security foundations” closely linked with Vladimir Putin. 

In the article, Seitz is described as “Vice President” of the “Security Academy Waldmünchen” in Bavaria that was a branch of the “Academy for Legal Order, Security, and Defense Matters” in Moscow. The Academy was founded by Vladimir Putin himself. Putin is described as “Member No. 1”. Under cover of an academic organization, official events were reportedly organised for gathering intelligence in politics and business. 

The article also states that Seitz and the academy were closely connected to an organisation called the “International Counterterrorism Association,” also in Moscow. That organisation in Germany, the article notes, can be connected to Karlshorst, Berlin where the KGB had its headquarters. 

Seitz states on his LinkedIn profile that he has been Managing Director of Eurabus since October 1992. However, German corporate records revealed Eurabus was incorporated only in 2015. Seitz would appear to be referring to Euracom GmbH and the Euracom Group of companies that was founded in 1994 as far as can be determined from corporate records. 

According to a recently published biography entitled “Unbreakable – An Extraordinary Life between East and West”, by Dr. Werner Resch, a business partner of Seitz’s beginning in the early 1990s after the fall of the Berlin Wall, Seitz was “very big in business with armoured cars in the former Soviet Union”. 

Further research reveals several corporate entities in Germany, the UK and the Czech Republic associated with Seitz, most of them related to producing and selling luxury armoured cars and minibuses.

Causis’ operating entity in India Causis E-Mobility Pvt Ltd was incorporated on 04 June 2021 in New Delhi under company number U34102DL2021PTC381936. Its statutory Directors and Shareholders are Marudur Subramanyam Chandrasekar and Ravi Kumar Panga.

Prior to joining Causis as its Director & CEO in May 2020, Panga was a senior executive at Ashok Leyland, an Indian multinational automotive manufacturer. 

Panga is in business with British national James Fitzgerald O'Keefe, a former contact of Tumuluri’s. According to Panga’s LinkedIn page, he was CEO of EGV Transport India Private Limited, an Indian manufacturing company, in May 2020 for one month. EGV is registered to the same business address as Causis E-Mobility. EGV is 100% owned by UK- registered dormant company EGV Transport Corporation Limited, which in turn is 75% owned by James Fitzgerald O'Keefe. O'Keefe and Panga are statutory Directors of EGV.  Marudur has been Head of Business Development at Causis E-Mobility since June 2021.

In October 2021, Causis E-Mobility signed a strategic MoU with state investment promotion agency Maharashtra Industrial Development Corporation with a view to establish an electrical vehicles plant in Talegaon. In February 2022, Causis reportedly signed a similar MoU with the Andhra Pradesh government. 

Recently a US paper reported quoting Indian sources that Ram Tumuluri’s $8 billion India electric buses deal is in huge trouble as he has failed to implement the Rs2,800-crore electric buses deal with the Mumbai authorities, Indian govt sources told a US publication.


Pakistani rupee inches up against US dollar, Euro, Pound, Riyal and Dirham; Check latest rates here

Pakistani rupee witnessed upward trajectort against US dollar and other currencies amid positive economic cues.

Dollar Rate in Pakistan Today

On Wednesday, the US dollar moved down and was being quoted at 283.7 for buying and 286.75 for selling.

Euro remained stable at 309 for buying and 312 for selling. British Pound rate increased to 361 for buying, and 364 for selling.

UAE Dirham AED dropped to 77.6 whereas the Saudi Riyal rate stands at 76.

Today's currency exchange rates in Pakistan - 6 December 2023

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar USD 283.7  286.75 
Euro EUR 309  312 
UK Pound Sterling GBP 361  364 
U.A.E Dirham AED 77.6 78.3
Saudi Riyal SAR 76 76.8
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 758.58 766.58
Canadian Dollar CAD 209 211
China Yuan CNY 39.93 40.33
Danish Krone DKK 41.41 41.81
Hong Kong Dollar HKD 36.49 36.84
Indian Rupee INR 3.42 3.53
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 923.13 932.13
Malaysian Ringgit MYR 60.97 61.57
New Zealand Dollar NZD 175.89 177.89
Norwegians Krone NOK 26.68 26.98
Omani Riyal OMR 740.01 748.01
Qatari Riyal QAR 78.36 79.06
Singapore Dollar SGD 211 213
Swedish Korona SEK 27.45 27.75
Thai Bhat THB 8.09 8.24

Gold price sees major drop in Pakistan; Check today gold rates - 6 Dec 2023

KARACHI – Gold prices in the local market continue to decline in line with the international market.

Gold Rates in Pakistan Today - 6 December 2023

On Wednesday, the price of a single tola of 24-karat gold stands at Rs219,400 and 10 grams of 24k gold costs Rs188,100. 

Each tola for 24 karat is Rs216,700, 22 Karat is Rs198,640, and 21 karat rate per tola is Rs189,613 and 18k gold rate is Rs162,525.00 for single tola.

In the global market, the precious metal moved down, and hovers around $2023 per ounce after drop of around $10.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 219,400 PKR 2,625
Karachi PKR 219,400 PKR 2,625
Islamabad PKR 219,400 PKR 2,625
Peshawar PKR 219,400 PKR 2,625
Quetta PKR 219,400 PKR 2,625
Sialkot PKR 219,400 PKR 2,625
Attock PKR 219,400 PKR 2,625
Gujranwala PKR 219,400 PKR 2,625
Jehlum PKR 219,400 PKR 2,625
Multan PKR 219,400 PKR 2,625
Bahawalpur PKR 219,400 PKR 2,625
Gujrat PKR 219,400 PKR 2,625
Nawabshah PKR 219,400 PKR 2,625
Chakwal PKR 219,400 PKR 2,625
Hyderabad PKR 219,400 PKR 2,625
Nowshehra PKR 219,400 PKR 2,625
Sargodha PKR 219,400 PKR 2,625
Faisalabad PKR 219,400 PKR 2,625
Mirpur PKR 219,400 PKR 2,625


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