As the Serious Fraud Investigation Office (SFIO) prepares prosecution against lobbyist Niira Radia’s Vaishnavi firms for companies law violation, the group on Sunday asked corporate affairs minister Sachin Pilot to intervene and order an investigation into whether “due process” was followed by the probe agency.
The SFIO recently submitted its final report on investigations into alleged violations — including non-disclosure of key financial and other details by certain Vaishnavi entities and entering into related party transactions without proper clearances — and sought the corporate affairs ministry’s approval for launching prosecution in the case.
The probe agency has now been granted permission to begin prosecution, pursuant to which appropriate penal action can be taken in this case, a senior official said.
Meanwhile, Vaishnavi Corporate Communications on Sunday wrote to Pilot requesting him to “examine the Report (by SFIO) dispassionately on the allegations made against us.”
“We believe that strong action by your good self would serve as a deterrent against any similar repeats from taking place in the future. We also request your good-self to investigate whether due process has been adopted in the process of finalisation of the report as we apprehend that the report has been authored primarily to create sensation by use of selective data points,” the firm said. When contacted, a Vaishnavi spokesperson confirmed that such a letter has been written to Pilot.