CBI Searches Premises Of Former Finance Secretary In Alleged Corruption Case
Former finance secretary Arvind Mayaram.The Central Bureau of Investigation (CBI) on Thursday conducted searches at the premises of former finance secretary Arvind Mayaram in Delhi and Jaipur, days after registering a first information report (FIR) for alleged corruption charges.
In its FIR, the CBI has alleged that Mayaram and unidentified officials from the Finance Ministry and the Reserve Bank of India (RBI) extended undue favour to De La Rue International Ltd, a UK-based company, by giving three years’ extension to the company’s “expired contract” for the supply of exclusive colour shift security thread for Indian banknotes.
The FIR says that he did not take mandatory security clearance from the Ministry of Home Affairs and did not inform the Finance Minister.
The CBI had registered a preliminary enquiry in 2018 on the basis of a complaint from the Chief Vigilance Officer of the Department of Economic Affairs and filed the FIR on 10 January this year.
The 1978 batch officer served as finance secretary from 2012-14, and also served as chief economic adviser to Rajasthan Chief Minister Ashok Gehlot.
He has a PhD in finance and has served as the alternate governor for India on the boards of the World Bank, Asian Development Bank and African Development Bank.
He also served as India’s finance deputy in G20 and BRICS, and on the boards of the RBI, the Securities and Exchanges Board of India and the Life Insurance Corporation of India among others.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.