UPA pressured me to drop names from CWG, coal reports: Rai

August 24, 2014

New Delhi, Aug 24: In fresh embarrassment to the erstwhile UPA regime, particularly to former Prime Minister Manmohan Singh, former CAG Vinod Rai has claimed that coalition functionaries had deputed politicians to get him leave out names from the audit reports in the Coalgate and Commonwealth Games scams.

Vinod RaiIn remarks damning the previous dispensation, he has also claimed that UPA functionaries had roped in even his colleagues in the IAS, to which he belonged before his appointment as CAG, to persuade him to leave out names.

Like some of the books that have recently hit the stands including those by the media adviser of the former prime minister Sanjay Baru, former External Affairs Minister K Natwar Singh and former Coal Secretary P C Parakh that have been severe on Singh and his government, Rai is penning his views in his forthcoming book "Not Just An Accountant" to be released in October, that will be critical of the UPA regime.

Rai, who had demitted office last year after several run-ins with the UPA government and had estimated a "notional"loss of Rs. 1.76 lakh crore in the 2G spectrum allocation and Rs.1.86 lakh crore in Coal Block allocations, was severe in his comments to Times of India on Singh.

He has said he would provide details of how sheer considerations of survival led Singh to acquiesce to decisions which caused huge loss to the exchequer.

"See the prime minister is the first among equals.He has to take the last call which sometimes he did, sometimes he didn't.Everything cannot be sacrificed only to remain in power. Governance cannot be sacrificed at the altar of compulsion of coalition politics. I have said it in the book," he said.

Today, Rai refused to meet reporters who reached his residence and declined to comment on the report. But sources close to him said, "Each and every word in the book is factually correct. The purpose is not to tarnish image of somebody but to help in improving governance and systems in future. The language used in the book is so simple that people from all walks of life including students can understand," they said.

Asked why Rai is making these comments now and not earlier, the sources said, he was holding a constitutional post at that time and it would have undermined the status of the institution which he headed.

"Now he is free to talk about it and in the book he has spoken about every person, taking their names, who had criticised the institution and the mandate of the CAG to do performance audit," the sources said.

They said the title of the book was inspired from a Supreme Court observation in a judgement in a PIL that "the CAG is not just a munim (account)."

Rai also said it was during the meetings of Parliament's Public Accounts Committee that he came under pressure from the Congress members of the Committee, who put tough and hostile questions to him.

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News Network
June 2,2020

New Delhi, Jun 2: India on Tuesday reported 8,171 more COVID-19 cases and 204 deaths in the last 24 hours as the country's virus count inches closer to two lakh, according to the Union Ministry of Health and Family Welfare.

The total number of cases in the country now stands at 1,98,706 including 97,581 active cases, 95,527 cured/discharged/migrated and 5,598 deaths.

Cases in Maharashtra have crossed 70,000 including over 30,000 recovered while Tamil Nadu's COVID-19 tally jumped to 23,495.

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News Network
January 7,2020

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

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Agencies
July 23,2020

Jaipur, Jul 23: Four days after the Special Operation Group (SOG) sent a notice to Union minister Gajendra Singh Shekhawat in connection with the purported audio clips indicating his alleged involvement in horse trading of MLAs in Rajasthan, a city court has directed the Rajasthan police to probe a complaint alleging Shekhawat's role in a credit society scam worth Rs 840 crore.

The additional district judge Pawan Kumar, on Tuesday, directed the additional chief judicial magistrate's court to send the complaint against Shekhawat to the SOG.

Shekhawat, his wife and other partners have been named in the complaint in the Sanjivani Credit Cooperative Society scam in which around 50,000 investors allegedly lost about Rs 840 crore.

The Jaipur unit of the SOG has been probing the scam since last year after an FIR was registered on August 23, 2019.

Now, Jaipur ADJ Court-8 ordered a fresh inquiry in the case against Gajendra Singh accepting the revised application filed by Lagu Singh and Guman Singh and said that "this is a serious matter and hence SOG should investigate this".

Both the applicants had invested a huge amount in Sanjivani credit cooperative society.

It is alleged in the complaint that a multi-storey building has been built with the money instead of a theatre which was proposed earlier and many properties were also bought in Ethiopia with the money.

An SOG investigation also reveals that a large amount of money has been deposited into accounts of Shekhawat and his wife at different time spans, said sources.

Earlier, Shekhawat was not mentioned in the chargesheet filed by the SOG in connection with the case. Later, a magistrate's court also rejected the application to include him in the chargesheet. The applicants then approached the additional district judge's court with a revised application.

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