For alleged irregularities in the supply of unique colour shift security thread for the Indian currency, the Central Bureau of Investigation (CBI) has filed a case against Arvind Mayaram, then Secretary to the Department of Economic Affairs, unidentified officials of the Finance Ministry, RBI, and the De La Rue International Limited-UK.
According to the CBI FIR into the case, Raj Kumar, Joint Secretary and CVO, Department of Economic Affairs, Ministry of Finance, North Block, New Delhi, filed a complaint on February 14, 2017. The CBI in Delhi began a preliminary investigation in response to this complaint.The enquiry revealed that the Government of India entered into an agreement with M/s De La Rue International Ltd., UK (now here by mentioned as M/s De La Rue) for the supply of exclusive colour shift security thread for Indian Bank Notes in the year 2004 for a period of 5 years. The contract was then four times renewed through December 2015.
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The investigation also indicated that M/s De La Rue’s contract was extended by another three years by Arvind Mayaram, Secretary, DEA, in 2013. He also overruled the fact that an extension cannot be granted without obtaining mandatory security clearance from the Ministry of Home Affairs. Arvind Mayaram also did not take the approval from Finance Minister.
Anil Raghbeer, the signatory of the contract agreement from M/s De La Rue, received Rs 8.2 crore from offshore organisations in addition to the compensation provided by M/s. De La Rue in 2011, according to the investigation. Therefore, a preliminary investigation has shown that M/s De La Rue International Ltd., UK; Arvind Mayaram, the then Secretary; unidentified Ministry of Finance, Government of India; unidentified employees of RBI; and Unidentified Others formed a criminal conspiracy.
By providing an illegal extension to M/s De La Rue as part of the aforementioned criminal conspiracy, Arvind Mayaram gave the company an unfair advantage that led to M/s De La Rue International Ltd., UK receiving an unfair benefit and the government exchequer suffering an unfair loss. Meanwhile, the CBI on Thursday raided the premises of former Union Secretary in Delhi and Jaipur on alleged corrupting cases. CBI has received complaints against Ex Finance secretary Arvind Mayaram places in connection with, u201cirregularities in awarding the tender for currency printing,u201d CBI official said.
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