Express News Service
NEW DELHI: The Central Bureau of Investigation (CBI) on Thursday performed searches on the premises of Arvind Mayaram, former finance secretary and present financial advisor to Rajasthan Chief Minister Ashok Gehlot, in Delhi and Jaipur following a current FIR in opposition to him, alleging irregularities and corruption within the provide of unique color shift safety thread (CSST) for Indian financial institution notes from a UK-based firm.
In the FIR dated January 10, 2023, the CBI stated that Mayaram together with De La Rue International Ltd of the UK and unidentified officers of the finance ministry and RBI conspired and prolonged undue favours to the agency that equipped CSST for Indian forex notes.
The CBI stated that prima facie discloses the fee of cognisable offence punishable underneath sections 120B (prison conspiracy) learn with sections 13 (2) and 13(1)(d) of the Preventions of Corruptions Act on a part of Arvind Mayaram, the then secretary, Department of Economic Affairs, Ministry of Finance, officers of De la Rue International Ltd UK, unknown officers of RBI and Finance Ministry and others.
A preliminary enquiry pertaining to the case was registered in 2018 on a criticism from the Chief Vigilance Officer of the Department of Economic Affairs within the Ministry of Finance.
The company alleged that Mayaram as finance secretary illegally granted an extension of three years foundation a contract which had expired with De la Rue International Ltd UK for supplying unique color shift safety thread with out taking any necessary safety clearance from the Ministry of Home Affairs. Even the then finance minister was not stored within the loop the CBI alleged.
The CBI stated within the criticism that the Government of India had entered right into a five-year settlement with De La Rue International Ltd for the provision of unique CSST for Indian banknotes in 2004. The contract was prolonged 4 instances until December 31, 2015.
The CBI additionally alleged that within the settlement with GoI, De la Rue particularly talked about that the corporate had developed an unique India particular inexperienced to blue color shift clear textual content MRT machine-readable safety thread to be used in Indian banknote paper as a safety function and for which the corporate holds unique manufacturing rights.
But the company through the investigation discovered that the corporate had filed for a patent in India within the title of “A method for manufacturing a Substrate,” on June 28, 2004, which was printed on March 13, 2009, and was granted on June 17, 2011. This implied that “at the time of their presentation in 2002 and their selection and signing of the agreement in 2004, the UK-based De la Rue did not have a valid patent,” the CBI alleged.
NEW DELHI: The Central Bureau of Investigation (CBI) on Thursday performed searches on the premises of Arvind Mayaram, former finance secretary and present financial advisor to Rajasthan Chief Minister Ashok Gehlot, in Delhi and Jaipur following a current FIR in opposition to him, alleging irregularities and corruption within the provide of unique color shift safety thread (CSST) for Indian financial institution notes from a UK-based firm.
In the FIR dated January 10, 2023, the CBI stated that Mayaram together with De La Rue International Ltd of the UK and unidentified officers of the finance ministry and RBI conspired and prolonged undue favours to the agency that equipped CSST for Indian forex notes.
The CBI stated that prima facie discloses the fee of cognisable offence punishable underneath sections 120B (prison conspiracy) learn with sections 13 (2) and 13(1)(d) of the Preventions of Corruptions Act on a part of Arvind Mayaram, the then secretary, Department of Economic Affairs, Ministry of Finance, officers of De la Rue International Ltd UK, unknown officers of RBI and Finance Ministry and others.
A preliminary enquiry pertaining to the case was registered in 2018 on a criticism from the Chief Vigilance Officer of the Department of Economic Affairs within the Ministry of Finance.
The company alleged that Mayaram as finance secretary illegally granted an extension of three years foundation a contract which had expired with De la Rue International Ltd UK for supplying unique color shift safety thread with out taking any necessary safety clearance from the Ministry of Home Affairs. Even the then finance minister was not stored within the loop the CBI alleged.
The CBI stated within the criticism that the Government of India had entered right into a five-year settlement with De La Rue International Ltd for the provision of unique CSST for Indian banknotes in 2004. The contract was prolonged 4 instances until December 31, 2015.
The CBI additionally alleged that within the settlement with GoI, De la Rue particularly talked about that the corporate had developed an unique India particular inexperienced to blue color shift clear textual content MRT machine-readable safety thread to be used in Indian banknote paper as a safety function and for which the corporate holds unique manufacturing rights.
But the company through the investigation discovered that the corporate had filed for a patent in India within the title of “A method for manufacturing a Substrate,” on June 28, 2004, which was printed on March 13, 2009, and was granted on June 17, 2011. This implied that “at the time of their presentation in 2002 and their selection and signing of the agreement in 2004, the UK-based De la Rue did not have a valid patent,” the CBI alleged.
