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164267
Sat, 02/26/2011 - 19:47
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NALCO CMD, his wife, 2 others to face 5 days of CBI grilling
New Delhi, Feb 26 (PTI) NALCO CMD Abhay Kumar
Srivastava, his wife and two others, arrested in an alleged
bribery case, were produced in Delhi court on Saturday which
allowed CBI to quiz them in its custody for five days.
In a related development, Government suspended
Srivastava and asked B L Bagra, Director (Finance), NALCO, to
assume additional charge of CMD till further orders.
Srivastava was to chair a meeting of the NALCO Board
of Directors in Bhubaneshwar on Saturday. The meeting has now
been deferred in view of the developments.
Central Bureau of Investigation (CBI), India's premier
investigation agency, arrested the four following a tip off
and recovered about 10 kgs of gold bricks and jewellery valued
at around Rs 2.13 crores as also Rs 30 lakh in cash from their
possession yesterday.
Special CBI Judge O P Saini sent Srivastava, Chairman-
cum-Managing Director (CMD) of NALCO, his wife Chandani,
alleged middleman Bhushan Lal Bajaj and his wife Anita, to CBI
custody till March 3 saying the allegations are "very serious"
and being the CMD of public sector National Aluminum Company
(NALCO), he holds a "very high ranking post".
"Accused A K Srivastava is holding a very high ranking
post being the CMD of NALCO. In these circumstances, the case
is required to be thoroughly investigated and for that
sustained interrogation of the accused persons is required.
"Accordingly, I am satisfied that the prayer for
police custody of the accused persons is justified," the judge
said.
Srivastava took over as the NALCO chief in October,
2009 and before that he was CMD of the Cement Corproation of
India for nearly five years.
NALCO is Asia's largest integrated aluminum complex
undertaking bauxite mining, alumina refining, smelting and
casting besides power generation as also rail and port
operations.
CBI contended that Bajaj acted as a middlemen for
obtaining official favour for Bhatia Group of Companies from
Srivastava and for that he had collected huge illegal
gratification from G S Bhatia, CMD of Bhatia Group of
Companies, on behalf of the NALCO's CMD.
The agency alleged that Bajaj was working as a conduit
between coal suppliers and Srivastava.
Bajaj, it said, was having close links with Bhatia and
used three phone numbers to talk to him.
Bhatia Group of Companies is engaged in trading of
imported and indigenous coal with various private companies
and PSU's through its company M/s Bhatia International Ltd and
Bhatia Coal Sales Ltd located in Indore.
CBI said Srivastava had instructed Bajaj to convert
the brine money received from Bhatia Group of Companies into
gold and to deliver it to him.
Regarding the role of wives of both the accused, CBI
said Srivastava and Bajaj decided to deposit the gold through
them in either of the lockers maintained at Shahjahan Road
branch of Bank of Maharashtra or Mayur Vihar Phase-1 branch of
Bank of India.
It said the bribe amount was converted into gold
bricks which were collected by Anita and handed over to
Chandani.
Gold worth Rs 2.13 cores and Rs 9.5 lakh in cash were
recovered from locker number 127 of Bank of Maharashtra while
Rs 15 lakh was found from Bank of India locker.
CBI said it also found Rs five lakh in cash in
Chandani's bag she was carrying when she and Anita were
intercepted by the agency sleuths.
Both were arrested when they came out of Bank of
Maharashtra after depositing the gold in their locker.
"Documents pertaining to huge investments in movable
and immovable properties were unearthed and the same are under
scrutiny," CBI said in its remand application seeking seven
days custodial interrogation of the accused.
The agency said Chandani impersonated as Anita by
using PAN card, Voter I-card in her (Anita's) name with her
own photograph for obtaining and operating the locker as well
as the bank account in Bank of Maharashtra, which was in
Anita's name.
The defence counsel for the accused, however, opposed
CBI's plea saying the investigation is complete and searches
have already been conducted by CBI.
They said their clients are ready to co-operate with
CBI in the probe and thus custodial interrogation is not
required.
CBI, meanwhile, submitted that they have to unearth
the entire conspiracy and also ascertain the files relating to
the contract for which the bribe amount was given to
Srivastava.
The court ordered that the accused persons be
medically examined every 48 hours and also allowed the family
members and counsel to meet them during their custodial
interrogation.
"Mines minister Dinsha Patel and senior ministry
officials went through the CBI report. Based on the
developments, Srivastava has been suspended and the senior
most NALCO official B L Bagra has been given charge of CMD
till further orders," a ministry official said.
The Bhubaneshwar-headquartered Navratna company
produced 15.92 lakh tonnes of alumina last fiscal and has a
target of producing 16.80 lakh tonnes of alumina this fiscal.
Srivastava, his wife and two others, arrested in an alleged
bribery case, were produced in Delhi court on Saturday which
allowed CBI to quiz them in its custody for five days.
In a related development, Government suspended
Srivastava and asked B L Bagra, Director (Finance), NALCO, to
assume additional charge of CMD till further orders.
Srivastava was to chair a meeting of the NALCO Board
of Directors in Bhubaneshwar on Saturday. The meeting has now
been deferred in view of the developments.
Central Bureau of Investigation (CBI), India's premier
investigation agency, arrested the four following a tip off
and recovered about 10 kgs of gold bricks and jewellery valued
at around Rs 2.13 crores as also Rs 30 lakh in cash from their
possession yesterday.
Special CBI Judge O P Saini sent Srivastava, Chairman-
cum-Managing Director (CMD) of NALCO, his wife Chandani,
alleged middleman Bhushan Lal Bajaj and his wife Anita, to CBI
custody till March 3 saying the allegations are "very serious"
and being the CMD of public sector National Aluminum Company
(NALCO), he holds a "very high ranking post".
"Accused A K Srivastava is holding a very high ranking
post being the CMD of NALCO. In these circumstances, the case
is required to be thoroughly investigated and for that
sustained interrogation of the accused persons is required.
"Accordingly, I am satisfied that the prayer for
police custody of the accused persons is justified," the judge
said.
Srivastava took over as the NALCO chief in October,
2009 and before that he was CMD of the Cement Corproation of
India for nearly five years.
NALCO is Asia's largest integrated aluminum complex
undertaking bauxite mining, alumina refining, smelting and
casting besides power generation as also rail and port
operations.
CBI contended that Bajaj acted as a middlemen for
obtaining official favour for Bhatia Group of Companies from
Srivastava and for that he had collected huge illegal
gratification from G S Bhatia, CMD of Bhatia Group of
Companies, on behalf of the NALCO's CMD.
The agency alleged that Bajaj was working as a conduit
between coal suppliers and Srivastava.
Bajaj, it said, was having close links with Bhatia and
used three phone numbers to talk to him.
Bhatia Group of Companies is engaged in trading of
imported and indigenous coal with various private companies
and PSU's through its company M/s Bhatia International Ltd and
Bhatia Coal Sales Ltd located in Indore.
CBI said Srivastava had instructed Bajaj to convert
the brine money received from Bhatia Group of Companies into
gold and to deliver it to him.
Regarding the role of wives of both the accused, CBI
said Srivastava and Bajaj decided to deposit the gold through
them in either of the lockers maintained at Shahjahan Road
branch of Bank of Maharashtra or Mayur Vihar Phase-1 branch of
Bank of India.
It said the bribe amount was converted into gold
bricks which were collected by Anita and handed over to
Chandani.
Gold worth Rs 2.13 cores and Rs 9.5 lakh in cash were
recovered from locker number 127 of Bank of Maharashtra while
Rs 15 lakh was found from Bank of India locker.
CBI said it also found Rs five lakh in cash in
Chandani's bag she was carrying when she and Anita were
intercepted by the agency sleuths.
Both were arrested when they came out of Bank of
Maharashtra after depositing the gold in their locker.
"Documents pertaining to huge investments in movable
and immovable properties were unearthed and the same are under
scrutiny," CBI said in its remand application seeking seven
days custodial interrogation of the accused.
The agency said Chandani impersonated as Anita by
using PAN card, Voter I-card in her (Anita's) name with her
own photograph for obtaining and operating the locker as well
as the bank account in Bank of Maharashtra, which was in
Anita's name.
The defence counsel for the accused, however, opposed
CBI's plea saying the investigation is complete and searches
have already been conducted by CBI.
They said their clients are ready to co-operate with
CBI in the probe and thus custodial interrogation is not
required.
CBI, meanwhile, submitted that they have to unearth
the entire conspiracy and also ascertain the files relating to
the contract for which the bribe amount was given to
Srivastava.
The court ordered that the accused persons be
medically examined every 48 hours and also allowed the family
members and counsel to meet them during their custodial
interrogation.
"Mines minister Dinsha Patel and senior ministry
officials went through the CBI report. Based on the
developments, Srivastava has been suspended and the senior
most NALCO official B L Bagra has been given charge of CMD
till further orders," a ministry official said.
The Bhubaneshwar-headquartered Navratna company
produced 15.92 lakh tonnes of alumina last fiscal and has a
target of producing 16.80 lakh tonnes of alumina this fiscal.
