’CBI Adventurism’ over Chanda Kochhar probe, reminds it of ’Bull’s Eye’: Arun Jaitley

Mangalore Today News Network

New Delhi, Jan 26, 2019 : Finance Minister Arun Jaitley in his blog took on the Central Bureau of Investigation (CBI), a day after they raided Videocon on Thursday offices in Mumbai and termed it as “investigative adventurism”, reported News 18.

 

Providing reasons for his connotation, he wrote, “Sitting thousands of kilometers away, when I read the list of potential targets in the ICICI case, the thought that crossed my mind was again the same – Instead of focusing primarily on the target, is a journey to nowhere (or everywhere) being undertaken? If we include the entire who’s who of the Banking Industry – with or without evidence – what cause are we serving or actually hurting.”

Jaitley is currently undergoing treatment in US.

The CBI on Thursday booked the Dhoots of the Videocon group along with Chanda Kochhar, the former CEO and MD of ICICI Bank and her husband Deepak, for alleged irregularities in sanctioning six loans worth Rs 1,875 crore to the now crippled Videocon Group and other group entities.

Jaitley further explained in his blog, “Investigative adventurism involves casting the net too wide including people with no mens rea or even having a common intention to commit an offence, relying on presumptions and surmises with no legally admissible evidence.”

Breaking down the case, CBI detailed the modus operandi and charged the three of them with offences punishable under Section 120B (conspiracy) and 420 (cheating) of IPC, section 7 (taking gratification) and 13(2) (criminal misconduct) read with 13(1)(d) (pecuniary advantage) of the Prevention of Corruption Act.

The tale of the fiddle has Chanda Kochhar conniving with Dhoot at every twist and turn in the case to benefit her husband by abusing her official position, according to the FIR. It provides the architecture of funnelling of money to her husband and how the various loans became NPAs for ICICI Bank which she presided over.

Four companies have also been named in the FIR - Nu Power Renewables, Supreme Energy, Videocon International and Videocon Industries.

The senior BJP leader was definitive in his article when he wrote, “There is a fundamental difference between investigative adventurism and professional investigation,”

“Professional investigation,” he penned down, “targets the real accused on the basis of actual and admissible evidences. It rules out fanciful presumptions. There is no personal malice or corruption. It targets the guilty and protects the innocent. It secures convictions and furthers public interest.”

Jaitley also blamed raids such as this for the “poor” conviction rates

“My advice to our investigators – Follow the advice of Arjun in the Mahabharat – Just concentrate on the bulls eye,” wrote Jaitey.