"DMRC has a very structured and transparent procedure for finalising all contracts," he said.
Describing the tender process in detail, the 82-year old former DMRC chairman rejected allegations of bribery.
"From the above it will be seen there are very many tiers, individuals and agencies involved and the decision cannot be influenced by bribing one or two individuals.
"The story does not therefore hold water. If at all bribe has been paid, it must have been to individuals outside DMRC with a view to siphon back the amount to individuals of Alstom network, UK," Sreedharan said.
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The tender papers were prepared by them, tenders received and processed by them and sent to DMRC for acceptance. Tenders are generally considered in two stages.
First there is a pre-qualification of intending tenderers. The General Consultants process the pre-qualification papers and send their recommendations to DMRC.
DMRC has then an appraisal Committee consisting of HODs who scrutinise these recommendations and put up to a tender committee consisting of Directors. The tender committee puts up their recommendations to the MD and after his acceptance papers are sent to JICA, the lending agency, for scrutiny and clearance.
"DMRC also has a strict policy of not allowing any intermediaries to our office. Tenderers are not allowed to communicate or get in touch with any DMRC officials during tender finalisation. These are part of our tender conditions," he said.