Ratan Tata rubbishes reports linking him to Benjamin Netanyahu graft case

Hours after Ratan Tata's name figured in the Israeli police recommendations seeking to indict Prime Minister Benjamin Netanyahu on graft charges, the businessman-philantropist rubbished reports on the same and said they are factually incorrect and appear to be motivated.

According to a report appearing in 'Ynetnews', a Israeli news media outlet, Hollywood producer Arnon Milchan reportedly tried to promote a free trade zone on the Israel-Jordan border as part of his partnership with Tata.

"According to the police, the most glaring example of Netanyahu working against Israel's interests to benefit Milchan was his efforts (to) promote a a free trade zone on the Israel-Jordan border, a project the Hollywood producer sought to promote as part of his partnership with Indian Industrialist Ratan Naval Tata," Ynetnews had reported.

"The reports in the media of a 'partnership with Arnon Milchan' and the claim of 'a huge profit' are factually incorrect and appear to be motivated," Tata said in a statement issued in Mumbai.

Tata's office in a statement said, "The 'Tata project', being referred to by the Israeli media, was a proposal received by Tata in 2009 from the Israeli establishment seeking the assistance of the Tata organisation in preparing a concept plan, as part of a broader peace initiative with Palestine, for a low volume automotive assembly plant on the banks of the Jordan river".

"The intention was to provide skilled employment to Palestinians. To be viable, the plan envisaged the establishment of a free trade corridor to Haifa to facilitate exports and offset higher logistics costs in Israel.

"These discussions on the project were directly held between a Tata team and the Israeli authorities, and not with Arnon Milchan, as stated by the Israeli media. Mr Tata wishes to clarify once again that there has never been any partnership in any such project with Milchan," it added.