Acting CBI Director M Nageswara Rao on Tuesday denied media reports claiming irregularities in the investments made by his wife in a private company. He said due intimations were given to the competent authority at the time of transactions.
In a signed statement, Rao, a 1986-batch IPS officer of Odisha cadre, said all the transactions and investments made by him or his wife, Mannem Sandhya, have been given to the competent authority, and everything has been mentioned in his annual property returns.
In his statement, Rao gave a chronological order of events leading to the loan sought by his wife and subsequent transfer by her in the account of the private firm. Rao said his wife had on September 10, 2010 borrowed Rs 25 lakh from Angela Mercantiles Pvt Ltd, Kolkata, a company which belonged to "our longtime friend Praveen Agarwal for purchase of an immoveable property in Guntur, Andhra Pradesh”.
Giving details, Rao said the property was purchased by her with her cousin Dr K Ratna Babu, who is a well known orthopedic surgeon in Guntur on September 18, 2010.
"On September 17, 2011, my wife sold sold 5.12 acres of her einherited agricultural property for an amount of Rs 30.72 lakh. Again on Octobe 19, 2011, she sold 6.05 acres of her inherited agricultural property for an amount of Rs 27.90 lakh. Thus she received a total amount of Rs 58.62 lakh as sale proceeds of 11.17 acres of her inherited agricultural property during 2011. This along with Rs 1.38 lakh from personal savings i.e. a total of Rs 60 lakh was sent to Ms Angela Mercantile in the year 2011, which after deducting the loan amountretained the balance Rs 35-lakhs investment," Rao said.
After a period of little less than three years in July 2014, Angela Mercantile returned to her a total of Rs 41,33,165which includes accrued interest amount of Rs 6,33, 165.
"Due intimations were given to the competent authority about borrowing of funds, purchase of property and sale of inherited agricultural property vide my letters dated 10.9.2010, 28.9.2010, 01.10.2010 and 09.11.2011 respectively. Therefore, the question of any unaccounted money does not arise at all.," he said, adding complete details of all properties owned by him or his family have been submitted in the annual property returns filed before the Government.
Rao was made interim chief last week after the Government sent CBI Director Alok Verma and his deputy Rakesh Asthana on leave till allegations of impropriety were probed by the Central Vigilance Commission.
