CBI statement on case against Shankersinh Vaghela and others

New Delhi

Following is full text of the Central Bureau of Investigation(CBI) statement on case against Shankersinh Vaghela and others:

The Central Bureau of Investigation has registered a case against former Minister of Textiles (Govt. of India); then CMD, then Director (Technical ) & then Senior Manager (Legal), all three of National Textile Corporation; then Director & his Kolkatta based private firm and other unknown persons U/s 120-B, 420 of IPC & 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988 for causing an alleged loss of Rs.709.27 crores(approx) to the government exchequer.

It was alleged that the accused entered into a criminal conspiracy and transferred the land at Mumbai owned by National Textile Corporation to a Kolkata based private firm in a wrongful manner, for a total consideration of Rs. 29.35 crores (approx), whereas the actual value of the land was much higher. An alleged loss of Rs. 709.27 Crores(approx.) was caused to the government exchequer.

Searches were conducted today at the nine places including residential & official premises of accused in Gandhi Nagar, New Delhi, Mumbai & Kolkata which led to recovery of incriminating documents.

Further investigation is continuing.

– CBI Statement