Former Finance Secretary Mayaram Booked By CBI In Alleged Corruption Case

For alleged irregularities in the supply of exclusive colour shift security thread for Indian bank notes, the Central Bureau of Investigation (CBI) has filed a corruption case against former Union finance secretary Arvind Mayaram, British banknote printing company De La Rue International Ltd, and unidentified officials of the finance ministry and the Reserve Bank of India (RBI), according to people familiar with the development on Thursday.

Raids were conducted at a number of locations, including Mayaram's homes in Delhi and Jaipur. A preliminary inquiry (PE), a step before filing a first information report (FIR), was opened in 2018 after the federal agency received a complaint about irregularities from the Department of Economic Affairs in February 2017.

An FIR was filed on Tuesday after the ministry of finance was given prior approval under Section 17A of the Prevention of Corruption (PC) Act after the agency determined that the allegations against Mayaram were sufficient to formally charge him in the case. This conclusion was reached about a month ago.

The 1978 batch retired Rajasthan cadre IAS officer, Mayaram, De La Rue, and unidentified officials have been charged with criminal conspiracy, cheating, and violating the PC Act's provisions for criminal misconduct and undue gain.