NEW DELHI: The Central Bureau of Investigation (CBI) on Thursday conducted searches at the Delhi and Jaipur premises of Arvind Mayaram, former finance secretary, days after filing an FIR against him over alleged irregularities and corruption in the supply of Exclusive Colour Shift Security Thread (CSST) for Indian currency notes from a UK-based company.
In the FIR dated January 10, the CBI said Mayaram, as finance secretary under the UPA government, conspired along with De La Rue International Ltd of UK and unidentified officials of the finance ministry and RBI to extended undue favours to the British firm.
The agency alleged that Mayaram granted an illegal three- year extension to an expired contract with De la Rue without taking the mandatory security clearance from the Union home ministry. Even the then finance minister was not kept in the loop, the CBI alleged.
The FIR said the UPA government entered into a five-year agreement with De La Rue in 2004. The contract was extended four times till December, 2015. The extension granted by Mayaram was the fourth. The CBI said prima facie it appears that Mayaram committed offences under sections 120B (criminal conspiracy) read with sections 13 (2) and 13(1)(d) of the Preventions of Corruptions Act 1988. It comes days after Mayaram joined Rahul Ga-ndhi’s Bharat Jodo yatra.