Haryana Chief Secretary D S Dhesi (IAS:1982:HY) finds himself in a soup for his alleged role in the Rs 250 crore scam in MMTC during his tenure as CMD of the company in 2012-14. The CBI has sought sanction from the Union Ministry of Commerce for his prosecution. Sources said that the ministry had put the sanction on hold as it wants certain clarifications before proceeding in the matter.
The Supreme Court has set a three-month deadline for government's sanction. However, in the CBI record, the sanction is overdue for four months. The case pertains to the MMTC allegedly flouting norms and using public money to participate in "speculative gambling" at the now defunct National Spot Exchange Limited (NSEL), promoted by Jignesh Shah. The NSEL was allegedly involved in financial irregularities and committed Rs 5,600-crore fraud, duping nearly 13,000 investors.
When the NSEL crashed, the MMTC, too, lost Rs 250 crore. The CBI first registered a FIR in the case in 2014. It is further learnt that in August 2014, Dhesi had given a detailed reply explaining his position, clarifying that there was no wrong-doing. He is learnt to have stated that approval for carrying out transactions with the NSEL was given by the MMTC's Board of Directors as early as 2008, while actual trading started in May 2011 and he took charge only in October 2012. Also, the increase in the "financial exposure" from Rs 5 crore to Rs 250 crore in the MMTC took place before he joined.
Dhesi's reply to the higher authorities also mentions that he was given additional charge of the CMD for a period of three months which was subsequently extended repeatedly despite reservations for want of a suitable candidate. It adds that the case should be closed since the allegations of his involvement are completely baseless and the transactions with NSEL were already going on at the time of his joining. While he did not take that decision, during his term as CMD, after seeking the opinion of the Attorney General, a case was also filed to attach Shah's properties to recover the losses.
Readers' Choice
Former Gujarat Cadre IAS Appointed As Chairperson Of 7th CPC Of West Bengal
West Bengal CS Gets Six-Month Extension
A Udhayan Appointed As Principal Chief Conservator Of Forest Of TN
Police Summon Ex Top Bureaucrat Pandian Over Missing Inquiry Reports
Ashok Barnwal Appointed As Chief Secretary of Madhya Pradesh
Haryana Chief Secretary under cloud
By IndianMandarins - 2017-07-06 10:23:12
Haryana Chief Secretary D S Dhesi (IAS:1982:HY) finds himself in a soup for his alleged role in the Rs 250 crore scam in MMTC during his tenure as CMD of the company in 2012-14. The CBI has sought sanction from the Union Ministry of Commerce for his prosecution. Sources said that the ministry had put the sanction on hold as it wants certain clarifications before proceeding in the matter.
The Supreme Court has set a three-month deadline for government's sanction. However, in the CBI record, the sanction is overdue for four months. The case pertains to the MMTC allegedly flouting norms and using public money to participate in "speculative gambling" at the now defunct National Spot Exchange Limited (NSEL), promoted by Jignesh Shah. The NSEL was allegedly involved in financial irregularities and committed Rs 5,600-crore fraud, duping nearly 13,000 investors.
When the NSEL crashed, the MMTC, too, lost Rs 250 crore. The CBI first registered a FIR in the case in 2014. It is further learnt that in August 2014, Dhesi had given a detailed reply explaining his position, clarifying that there was no wrong-doing. He is learnt to have stated that approval for carrying out transactions with the NSEL was given by the MMTC's Board of Directors as early as 2008, while actual trading started in May 2011 and he took charge only in October 2012. Also, the increase in the "financial exposure" from Rs 5 crore to Rs 250 crore in the MMTC took place before he joined.
Dhesi's reply to the higher authorities also mentions that he was given additional charge of the CMD for a period of three months which was subsequently extended repeatedly despite reservations for want of a suitable candidate. It adds that the case should be closed since the allegations of his involvement are completely baseless and the transactions with NSEL were already going on at the time of his joining. While he did not take that decision, during his term as CMD, after seeking the opinion of the Attorney General, a case was also filed to attach Shah's properties to recover the losses.
