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Court defers 2G spectrum case for August 25




New Delhi, July 5 : A court here on Wednesday adjourned the 2G spectrum allocation case for August 25. Former Telecom Minister A. Raja and DMK Rajya Sabha member Kanimozhi are being tried in the case.

CBI Special Judge O.P. Saini said that on account of voluminous and technical record of the case, files were still under perusal and it might take substantial time.

On April 26, the court had reserved its order in the case.

According to the Central Bureau of Investigation (CBI), Raja was biased in allocating 2G mobile air waves and operating licences to telecom firms, causing a huge loss to the state exchequer.

The CBI chargesheet said Rs 200 crore were transferred from DB Group to Kalaignar TV, which were kickbacks in lieu of allocation of 2G spectrum to Swan Telecom Pvt Ltd.

It held that a conspiracy was hatched by Raja, Kanimozhi, DMK supremo M. Karunanidhi’s wife Dayalu Ammal and others and that the Rs 200 crore was proceeds of crime.

All accused, including Raja, are out on bail.



Would not let any political party join me, says Anna Hazare



New Delhi, March 24:  Social activist Anna Hazare, who is on indefinite hunger strike, said that he would not let any political party join him.

Speaking to ANI, anti-corruption crusader said that whoever will join the movement with him, has to sign an affidavit stating that they’ll neither join any political party or group nor will participate in elections.

“Whoever joins the movement, signs affidavit which states, that they’ll neither join any political party or group nor will contest elections, ensure service to country, society and maintain good character. I’ll not let any political party or group come on this stage,” Hazare asserted.

Hazare began his indefinite fast at Ramlila Ground on Friday in a bid to bring about a competent Lokpal and ensure better production cost for farm produce.

The Gandhian has been pressing for setting up of the Lokpal at the Narendra Modi government and Lokayuktas in the states, besides implementation of the Swaminathan Commission report, which has recommended measures to meet the agrarian distress.


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CBI books two cases in Rs 539-crore IDBI fraud in Andhra, Telangana



CBI raids

Hyderabad, March 24: The Central Bureau of Investigation (CBI) has booked 41 persons including three officials of the Industrial Development Bank of India (IDBI) for cheating the bank to the tune of Rs 539 crore in Andhra Pradesh and Telangana.

The federal agency registered two separate cases relating to large-scale frauds in IDBI branches in the two states in sanctioning pisciculture loans.

In the first case, 31 persons including IDBI’s General Manager Battu Rama Rao and former Chief General Manager R. Damodaran, 22 aggregators and bank panel valuers were booked for cheating the bank to the tune of Rs 445.32 crores. Rama Rao has also been removed from the service.

The central agency booked the accused on charges of criminal conspiracy, cheating, forgery, criminal misconduct and misappropriation.

The action came after a complaint by IDBI official in Hyderabad that about 220 borrowers, consisting of 22 aggregators, conspired with IDBI bank officials at its Basheerbagh (Hyderabad) and Siripuram (Visakhapatnam) branches, along with bank panel valuers, and availed Kisan Credit Card (KCC) and pisciculture loans through 220 loan accounts from different branches of the bank aggregating Rs 198.28 crore

The loans, which were availed on the basis of fake documents and overvalued collateral property, subsequently become NPA. The outstanding amount as on September 2017 stood at Rs 445.32.

It was found that pisciculture or no other fish farming activity was ever taken up in the said lands in East and West Godavari and Krishna districts of Andhra Pradesh and Adilabad district in Telangana and that sanctioned loans were misappropriated.

Bank panel valuers Lt. Col. B.K. Sahoo, Aakar Consulting Engineers, R.A. Sharma, M.V. Srinivasulu, Subha Syndicate, Srinivasa Rau and Somasekhara Rao were among those booked.

In the second case, the CBI booked a IDBI official and nine others for defrauding the bank to the tune of Rs 93.73 crore.

Chandrasekhar Harish Chennapagari, who was working as Assistant General Manager at Guntur branch of IDBI, allegedly abused his official position to process and sanction 142 pisciculture loans from 2010 to 2012. He has been removed from service by the IDBI.

Investigations revealed that the loans were sanctioned on the basis of fake documents. The accused include a bank panel valuer, a bank panel advocate, aggregators and individual borrowers.


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PNB Scam: ED attaches Nirav Modi’s properties worth Rs 25 cr



New Delhi, March 24: The Enforcement Directorate (ED) on Saturday said that it has attached properties worth Rs 25 crore of diamond jeweller Nirav Modi in connection with its ongoing probe into the Rs 13,540 crore PNB fraud case.

An ED official told IANS that the searches were carried out on Thursday at Nirav Modi’s palatial residence ‘Samudra Mahal’ in Mumbai along with a Central Bureau of Investigation (CBI) team.

The official also said that the searches continued till Saturday morning and resulted in the seizure of antique jewellery worth Rs 15 crore, high-end watches valued at Rs 1.40 crore and paintings worth Rs 10 crore that includes artworks by M.F. Hussain, K.K. Hebbar, Amrita Shergil.

The ED also attached a diamond ring valued at Rs 10 crore.

The financial probe agency’s action comes after it registered a separate case against the diamond jeweller and his uncle Mehul Choksi of the Gitanjali Group for defrauding the banks to the tune of Rs 13,540 crore.

Till date, the ED has carried out searches at over 251 properties across the country and seized diamond, gold, precious and semi precious stones, pearls.

The ED has also attached immovable properties belonging to Nirav Modi Group and Mehul Choksi group to the tune of Rs 7,638 crore.

Choksi, Nirav Modi and his family fled in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.

With Agencies Inputs 

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