The state government issued orders on Sunday suspending Mohd Iliyas Rizvi, a 1985-batch IFS officer and former vice-chairman and managing director of AP State Minorities Finance Corporation Ltd following a fixed deposit scam amounting Rs 55.47 crore.
Rizvi insists that he had no role in the scam unearthed by the Crime Investigation Department (CID). However, chief secretary Minnie Mathew issued orders on Sunday suspending him from service.
In exercise of the powers conferred under Rule 3 (1) of the All India Services (Discipline and Appeal) Rules, 1969, the state government placed Rizvi under suspension. He is suspended with immediate effect, pending enquiry under the relevant provisions of All India Services (Discipline and Appeal) Rules, 1969. It has been brought to the notice of the government that Rizvi has failed to exercise proper supervision and control, which has led to fraudulent withdrawal of huge amounts of funds in the AP State Minorities Finance Corporation Ltd.
The government, after careful consideration of the available material and having regard to the circumstances of the case, decided to place Rizvi under suspension, pending inquiry into the matter. Rizvi shall be paid subsistence allowance during the period of suspension.