A high-level team of CBI sleuths, led by director Ashwini Kumar, will reveal how it successfully investigated India’s biggest corporate fraud, involving the Hyderabad-based Satyam Computers. The disclosure will be made during the three-day conference of senior CBI officials that begins on Saturday.
“We will present the case study of Satyam. For the CBI, it was a testing time, particularly in view of the nature of the fraud. Most of the top officials in the firm were directly or indirectly involved in the scam. And above, all across the country, Satyam was considered as one of the most efficient and honest firms. We took the investigations to the logical end,” a senior official told on Friday.
Apparently, the CBI will reveal as to how the Satyam CEO Ramalinga Raju siphoned off the company’s funds as well as legal aspects of the entire case. “Along with detection, our presentation before the court was also equally important.
We wish to share our experience with the members of the fourth estate too,” the official said.
On the first day of the conference, there will be a discussion on bank fraud cases and economic offences. “It was found that over a period, there was a spurt in bank fraud cases and economic offences across the country. In view of inter-state operations in such cases, the same were entrusted to the CBI. For the CBI, the biggest success was the probe into the Harshad Mehta scam and the economic offences involving stockbroker Ketan Parekh. In certain cases, the court has ruled in favour of the CBI, while in some offences, the cases are in different stages before the judiciary,” he said.
In addition, the conference will discuss at length the anti-corruption cases. In the recent past, the CBI has successfully trapped high-ranking officials, including a commissioner of income tax and a postmaster general. “So far, the general belief was that law enforcing agencies were targeting small-time government employees. However, now with the successful trapping of top officials, it is confirmed that no one is above the law,” he said.
The CBI sleuths will also debate on the cases pertaining to disproportionate assets against errant officials. “Our emphasis will be on taking such cases to their logical end, so that it will help in getting conviction of the accused,” he said. Further, a discussion on CBI and state government, special crime cases and legal framework of CBI is also on the cards. “It will be a refreshing exercise for the CBI and media too,” the official said.