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CBI raids 50 Delhi locations in ₹6,172 crore forex transaction case

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New Delhi: The CBI on Sunday raided 50 locations in Delhi in its ongoing probe in connection with a Bank of Baroda branch transferring over Rs.6,172 crore in foreign exchange to Hong Kong, officials said.

The premier investigation agency conducted the raids at the addresses given by the Bank of Baroda branch in Ashok Vihar area of north Delhi, which transferred the money via forex transaction.

“Most of the addresses given by the firms involved were found to be false. But raids continued at 50 locations in the city,” a CBI official said.

However, an official confirmed that the key figures involved have been identified and interrogation of important suspects was underway.

The Central Bureau of Investigation (CBI) along with the Enforcement Directorate on Saturday raided three premises including the Bank of Baroda’s Ashok Vihar branch, and residential premises of two bank officials whose roles have reportedly emerged in the forex transaction case.

Saturday’s raid was conducted a day after the Congress hit out at the Narendra Modi government in relation with transactions at the Bank of Baroda branch, saying they were in contravention of rules.

The CBI on Saturday also registered a case against 59 account holders and unknown bank officials and private people in the case.

The case, registered under various sections related to criminal conspiracy, cheating and corruption, was filed as the probe agency raided the Ashok Vihar branch of the bank.

“It was alleged that 59 current account holders and unknown bank officials conspired to send overseas remittances, mostly to Hong Kong, of foreign exchange worth approximately Rs.6,000 crore in illegal and irregular manner in violation of established banking norms under the garb of payments towards suspected non-existent imports,” a CBI statement said on Saturday.

(IANS)

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PM Modi Slammed for “Destroying” CBI: Congress on Alok Verma’s Case

The Congress on Tuesday slammed Prime Minister Narendra Modi after the Supreme Court reinstated Alok Verma as the Central Bureau of Investigation (CBI) Director, saying he has been exposed for "destroying" the premier investigating agency.

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narendra modi
Image: IANS

The Congress on Tuesday slammed Prime Minister Narendra Modi after the Supreme Court reinstated Alok Verma as the Central Bureau of Investigation (CBI) Director, saying he has been exposed for “destroying” the premier investigating agency.

“Modi adds another first to his list. After being the first Prime Minister to be exposed destroying the CBI before the Supreme Court, after having ruined the CVC’s (Central Vigilance Commission) credibility (requiring supervision by former SC judge), Modi has now become first Prime Minister to have his illegal orders set aside by the Supreme Court,” Congress spokesperson Randeep Singh Surjewala said in a series of tweets.

His remarks came soon after the Supreme Court judgment pronounced on a plea by Verma and NGO Common Cause challenging the government’s decision on the intervening night of October 23-24 to divest Verma of his charge as head of the investigating agency.

Reminding Modi that the government comes and goes but the integrity of the institutions survive, Surjewala hoped that the judgement would be a “lesson” to the Prime Minister about the strength of country’s democracy and the Constitution.

“Modiji please remember, governments have come and gone. Integrity of our institutions have survived. Let this be a lesson to you about the strength of our democracy and the Constitution. Let this be a lesson that howsoever despotic you may be, law catches up in the end,” he said.

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Central Bureau of Investigation (CBI). Wikimedia

Firing salvo at Prime Minister, the Congress leader said: “After making CBI Chief suffer the consequences of your illegal decision for three months, will you show the courage to return three months of lost tenure? Unless you are afraid of investigation into Rafale scam.

“Modi equals to ‘Muzzling of Democratic Institutions’. First, you lose four economic advisors in a row including two RBI Governors. Second, four Supreme Court judges go public on Judge (B.H.) Loya, then you destroy credibility and competence of the CBI and CVC. This is your model of ‘minimum governance, maximum government’,” he added.

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Congress leader Abhishek Manu Singhvi questioned the Supreme Court verdict asking what has changed now.

“Before the Supreme Court verdict; Alok Verma didn’t have powers of CBI Chief, couldn’t take any decision on policy or investigation. After Supreme Court verdict: Ditto,” Singhvi tweeted. (IANS)