The CBI on Friday carried out searches at the residence of former BCCI president A C Muthaiah after registering a case of alleged bank fraud of Rs 274 crore against him and three Directors of his First Leasing Company of India.
A CBI spokesperson said a case has been registered under IPC sections related to criminal conspiracy, cheating and forgery among others against Muthaiah, the then Chairman, First Leasing Company of India Ltd, the company, the then Managing Director Farouk Irani, the then senior vice president S Dilli Raj, the then CFO L Shivaramakrishnana, and two Chennai-based chartered accountancy firms Sarathy and Balu, and M K Dandeker and Company.
The allegations including forgery of valuable security, forgery for the purpose of cheating, using forged documents as genuine and falsification of accounts that took place during 2005-2013.
“A case was registered on the complaint of IDBI Bank on the allegations of cheating the bank and causing an alleged loss of Rs 274 crore (approx),” the CBI spokesperson said.
When asked for his reaction, Muthaiah said, “I was merely a namesake chairman of the First Leasing Company of India Ltd and held only six to seven per cent shares in the company.
The company is under official liquidation since last one year and recently former CBI Director R K Raghavan had submitted his report to the official liquidator, he said.
“I am not involved in anything. I was only a namesake Chairman of the company and helping my friend Faruq Irani,” he said.
He said that a CBI team came to his home this morning and enquired about the company and details. “However, there was no file pertaining to the the Leasing Company with me,” said the former president of the Board Of Control For Cricket In India (BCCI).
The agency also said searches were conducted today at eight places — seven in Chennai and one in Hyderabad — in the offices and residences of the accused which led to recovery of incriminating documents.
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