New Delhi: Former Finance Secretary Arvind Mayaram's premises are being searched by Central Bureau of Investigation (CBI) in an alleged corruption case. Officials said that the searches are being conducted in regard with irregularitis in currency printing when Mayaram was the Finance Secretary.
"CBI has received complaints against former Finance secretary Arvind Mayaram in connection with irregularities in awarding the tender for currency printing," a CBI official said.
The raids are being conducted in Delhi and Jaipur.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
The agency alleged that Mayaram as finance secretary granted an "illegal" three years extension to an "expired contract" with the company for supplying exclusive colour shift security thread without taking any mandatory security clearance from home ministry or informing the then finance minister, they said.
The extension granted by Mayaram was allegedly the fourth, the FIR said.
The agency, in its FIR, said that the Centre had entered into a five-year agreement with De La Rue International Ltd for the supply of exclusive colour shift security thread for Indian bank notes in 2004. The contract was extended four times till December 31, 2015.