CBI raids premises of Arvind Mayaram in alleged corruption case

The inquiry further revealed that despite non-possession of patent by M/s De La Rue the contract agreement of M/s De La Rue was extended from time to time till December 31, 2012.
Arvind Mayaram
Arvind Mayaram ANI

NEW DELHI: The Central Bureau of Investigation (CBI) on Thursday raided the premises of former Union Finance Secretary Arvind Mayaramin Delhi and Jaipur in connection with alleged corruption cases.

"CBI has received complaints against former Finance secretary Arvind Mayaram in connection with irregularities in awarding the tender for currency printing," a CBI official told ANI.

A CBI official said that "nothing more can be said, further investigation is underway."

According to the complaint copy against Mayaram, "A complaint dated February 14, 2017, was received from Raj Kumar, Joint Secretary & CVO, Department of Economic Affairs, Ministry of Finance, North Block, New Delhi." CBI has registered case against unknown officials of finance ministry and private person, including former finance, Secretary under several sections of criminal conspiracy, cheating and abuse of official positions. "The competent authority of Department of Economic Affairs, Ministry of Finance, Govt. of India, New Delhi has accorded approval us 17(A) of PC Act, 1988 (as amended in 2018) for conducting investigation against Sh. Arvind Mayaram, the then Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India, under Section 120-B r/w 420 of Indian Penal Code (IPC) and Section 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988," CBI FIR reads.

According to the FIR, an inquiry has further revealed that M/s De La Rue made false claims of holding patent and they did not have any patent for their color shift thread at the time of presentation in 2002 and their selection in 2004.

"De La Rue applied for patent in India in the name of "A METHOD OF MANUFACTURING A SUBSTRATE" having color shift effect only on June 28, 2004. The Date of publication of this patent was March 13, 2009, and date of grant of patent was June 17, 2011," the FIR raeds.

It further said in an FIR that an inquiry revealed that the Exclusivity Agreement was signed by PK Biswas, Executive Director, RBI without verification of the Patent Claim of M/s De La Rue. The inquiry has also revealed that the contract agreement did not have any termination clause.

"Inquiry has further revealed that both RBI and SPMCIL on 17.04.2006 and 20.09.2007 respectively submitted their reports regarding non-possession of patent by M/s De La Rue for their color shift thread but Sh. Arvind Mayaram never apprised the same to the Hon'ble Finance Minister," it further reads.

The inquiry further revealed that despite non-possession of patent by M/s De La Rue the contract agreement of M/s De La Rue was extended from time to time till December 31, 2012.

"Inquiry further revealed that on 10.05.2013, the matter was brought to the notice of Sh. Arvind Mayaram, as Secretary, Economic Affairs, that the contract agreement with M/s De La Rue had expired on 31.12.2012 therefore, an extension cannot be granted legally," it said.

The inquiry further revealed that Arvind Mayaram, Secretary, DEA, on June 23, 2013, approved another three years extension of an expired contract to M/s De La Rue.

"He also overruled the fact that extension cannot be granted without obtaining mandatory security clearance from Ministry of Home Affairs. Arvind Mayaram also did not take the approval from Hon'ble Finance Minister," the FIR added.

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