NALCO CMD AK Shrivastava, wife arrested by CBI, 10 kg gold and 29.5 lakh cash recovered
merisarkar news service New Delhi February 25, 2011
AK Shrivastava & wife Chandini arrested
The Central Bureau of Investigation (CBI) has arrested AK Srivastava, the Chairman and Managing Director of one of India's leading PSUs, National Aluminium Company Ltd (NALCO).
They have been arrested on charges of corruption and bribery. The CBI has also arrested his wife Chandni. She was arrested from a branch of Bank of Maharashtra.
CBI said in a statement that the agency arrested Chandini, wife of NALCO CMD AK Srivastava, when she was depositing 3 gold bricks of 1 kilogram each. CBI said that the bricks are made of pure 24 carat gold.
CBI said that the bank locker was in the name of middleman's wife and CMD's wife Chandini was operating this account as Benami. Further searches of CMD's wife led to recovery of 5 lakh in cash and a key of another locker. The search of the second bank locker yielded 7 more gold bricks of 1 kg each.
And this second locker was also in the name of middleman's wife.
A staggering 10 kg of gold was recovered from their house. At present rates that works out to be more than Rs. 2 crore.
CBI has arrested four persons - NALCO CMD Mr. AK Shrivastava, his wife, middle man and his wife. CBI did not disclose the identity of the middleman but informed that he was working for a Madhya Pradesh based business group.
The agency raided the CMD's offices in Delhi and Bhubaneswar, and his home in Bhubaneswar. Mr Srivastava was to chair a meeting of the NALCO Board of Directors on Saturday.
Mr. AK Shrivastava has presented a cheque of Rs. 112.29 crore as dividend to the government of India on Monday to mines minister Dinsha J. Patel.
