By the Way

Questionable actions of Vinod Rai!

Anil Tyagi

Vinod Rai, former Comptroller and Auditor General of India (CAG)Recall Vinod Rai, former Comptroller and Auditor General of India (CAG) and Secretary Banking. He opened the Pandora box of the 2G scam as CAG of India. When the CAG report on granting 2G spectrum licenses was first leaked in 2010, the entire country had hailed Vinod Rai as a crusader against corruption. The verdict in the multi-crore 2G scam has shocked the nation. After all, how come the special CBI court acquitted 19 accused of all charges in a scam where notional losses to the tune of Rs. 1.76 lakh crore were made? Was Rai acting at the instance of Airtel’s Sunil Bharti Mittal, TKA Nair or P Chidambaram? Vinod Rai doesn’t have any answers. And his clout is intact as the Supreme Court has appointed Rai as the interim president of the Board of Control for Cricket in India (BCCI). Meanwhile, Finance Minister Arun Jaitley, who reportedly poses faith in the capability of Rai, had to go and dig out the file of the bankrupt Dabhol Power Project Company. IDBI had the maximum exposure of Rs. 1,900 crore (Rs. 19 billion) in the Dabhol project, followed by State Bank of India Rs. 1,700 crore (Rs. 17 billion), ICICI Bank Rs. 1,300 crore (Rs. 13 billion), IFCI Rs. 600 crore (Rs. 6 billion) and Canara Bank Rs. 350 crore (Rs. 3.5 billion). If the file is investigated thoroughly, one will be surprised to know how Vinod Rai reportedly tried to convince banks to write off the huge outstandings. Good sense prevailed, and fortunately, the power ministry turned down the proposal. This is Vinod Rai! gfiles end logo



VOL. 12 | ISSUE 2 | MAY 2018

Click to comment

You must be logged in to post a comment Login

Leave a Reply

To Top
Latest Articles
close slider

Lastest Articles

 
From the Editor : Anil Tyagi
 
Eyes Wide Shut : A unique initiative
 
Police Reforms : Crime and Politics
 
Police Reforms : Fear remains the key
 
Police Reforms : Sensitising the police
 
Governance : Railways – Sarkar or Vyapar ?
 
Governance : AFSPA – A law that needs to go
 
Governance : A case of an FIR and an award
 
Governance : Development Agenda for New India 2022
 
Governance : Time to cash in
 
Governance : Too much noise
 
Corruption : FROM RAJ TO RAFALE – 1 : Clive of Corruption
 
Bric a brac : Amit Shah takes centrestage
 
Bric a brac : Arrogant ministers and the media
 
Bric a brac : AICC faces space constraint
 
Bric a brac : Now, Made in Gujarat
 
By the way : Rockstar Amitabh
 
By the way : J&K Police needs a DG
 
By the way : Roaring Khandelwal
 
By the way : Super Chief Minister!