Spain`s top league soccer clubs on Thursday approved private equity firm CVC`s proposed investment despite votes against from Real Madrid and Barcelona FC, on the condition that individual clubs can opt out of the deal, LaLiga`s president said. 
 
Facing fierce opposition from the country`s two leading clubs to the plan that initially targeted 2.7 billion euros ($3.2 billion) in investment, CVC modified its original proposal shortly before the vote, allowing clubs in LaLiga to take part on a voluntary basis. 
 
If Real Madrid, Barca and Athletic Bilbao choose not to join the deal, the investment is likely to total between 2.1 billion and 2.2 billion euros, LaLiga`s Javier Tebas told a news conference. 
 
Despite the approval by 38 clubs out of LaLiga`s 42, the deal still faces legal risks. 
 
CVC sought to pour money into LaLiga, which covers Spain`s top two soccer divisions, in exchange for nearly 11% of its revenue from television rights over 50 years. 
 
The league has argued the deal, called "Boost LaLiga", would strengthen clubs and give them funds to spend on new infrastructure and modernisation projects, as well as increasing how much they can spend on players` salaries. 
 
Real Madrid has said it is planning to launch civil and criminal lawsuits Tuesday against LaLiga`s Tebas and CVC Capital`s chief Javier de Jaime Guijarro over the planned deal.

Spain`s top league soccer clubs on Thursday approved private equity firm CVC`s proposed investment despite votes against from Real Madrid and Barcelona FC, on the condition that individual clubs can opt out of the deal, LaLiga`s president said.

Spain`s top league soccer clubs on Thursday approved private equity firm CVC`s proposed investment despite votes against from Real Madrid and Barcelona FC, on the condition that individual clubs can opt out of the deal, LaLiga`s president said. Facing fierce opposition from the country`s two leading clubs to the plan that initially targeted 2.7 billion euros ($3.2 billion) in investment, CVC modified its original proposal shortly before the vote, allowing clubs in LaLiga to take part on a voluntary basis. If Real Madrid, Barca and Athletic Bilbao choose not to join the deal, the investment is likely to total between 2.1 billion and 2.2 billion euros, LaLiga`s Javier Tebas told a news conference. Despite the approval by 38 clubs out of LaLiga`s 42, the deal still faces legal risks. CVC sought to pour money into LaLiga, which covers Spain`s top two soccer divisions, in exchange for nearly 11% of its revenue from television rights over 50 years. The league has argued the deal, called "Boost LaLiga", would strengthen clubs and give them funds to spend on new infrastructure and modernisation projects, as well as increasing how much they can spend on players` salaries. Real Madrid has said it is planning to launch civil and criminal lawsuits Tuesday against LaLiga`s Tebas and CVC Capital`s chief Javier de Jaime Guijarro over the planned deal.

Spain's LaLiga clubs approve CVC deal after opt-out concession

India’s probity watchdog CVC has decided to train anti-corruption officials in Europe to check graft in the country, officials said Tuesday. The Central Vigilance Commission (CVC) is organizing a customized vigilance related training programme at the International Anti Corruption Academy (IACA), Vienna, Austria from June 3 to 14, they said citing an official order.

The training will be for eligible Chief Vigilance Officers (CVOs) – who act as a distant arm of the Commission to check corruption in an organization – and others engaged in vigilance related works, the officials said. The body has sought details from CVOs in order to update its database as well as nominate officers for the upcoming international/domestic training to be conducted by the Commission and for proposed customized training in Austria, they said.

The training plan of the Commission states that “the officers (CVOs) should not have undergone any foreign training in the last two years as on April 1 of the year in which training is being organized”, in order to be eligible for the upcoming international training, the officials said. The IACA is an international organization based in Laxenburg, Austria dedicated to overcoming current shortcomings in knowledge and practice in the field of anti-corruption and seeking to empower professionals for future challenges.

Over Rs, 240 crore has been allocated to the Personnel Ministry for domestic and foreign training of bureaucrats and augmenting necessary infrastructure during this fiscal in the interim budget presented by the Union government in February. The Personnel Ministry acts as a nodal department for the CVC.

In its annual report for 2017 tabled in Parliament last year, the CVC said it had received a total of 23,609 complaints of corruption. Of these, 12,089 were against railway employees and over 8,000 against various bank officials.

India’s probity watchdog CVC has decided to train anti-corruption officials in Europe to check graft in the country, officials said Tuesday. The Central Vigilance Commission (CVC) is organizing a customized vigilance related training programme at the International Anti Corruption Academy (IACA), Vienna, Austria from June 3 to 14, they said citing an official order.

India’s probity watchdog CVC has decided to train anti-corruption officials in Europe to check graft in the country, officials said Tuesday. The Central Vigilance Commission (CVC) is organizing a customized vigilance related training programme at the International Anti Corruption Academy (IACA), Vienna, Austria from June 3 to 14, they said citing an official order. The training will be for eligible Chief Vigilance Officers (CVOs) – who act as a distant arm of the Commission to check corruption in an organization – and others engaged in vigilance related works, the officials said. The body has sought details from CVOs in order to update its database as well as nominate officers for the upcoming international/domestic training to be conducted by the Commission and for proposed customized training in Austria, they said. The training plan of the Commission states that “the officers (CVOs) should not have undergone any foreign training in the last two years as on April 1 of the year in which training is being organized”, in order to be eligible for the upcoming international training, the officials said. The IACA is an international organization based in Laxenburg, Austria dedicated to overcoming current shortcomings in knowledge and practice in the field of anti-corruption and seeking to empower professionals for future challenges. Over Rs, 240 crore has been allocated to the Personnel Ministry for domestic and foreign training of bureaucrats and augmenting necessary infrastructure during this fiscal in the interim budget presented by the Union government in February. The Personnel Ministry acts as a nodal department for the CVC. In its annual report for 2017 tabled in Parliament last year, the CVC said it had received a total of 23,609 complaints of corruption. Of these, 12,089 were against railway employees and over 8,000 against various bank officials.

To check corruption in India, CVC to train officials in Europe

A plea was filed in the Supreme Court on Monday seeking a direction to quash the January 10 order of the government appointing <a href="http://www.wionews.com/india-news/nageswara-rao-again-takes-over-cbi-directors-duties-189578">IPS officer M Nageswara Rao</a> as an interim director of the CBI.

CBI's Additional Director Rao was given the charge of CBI interim chief on January till the appointment of a new director after a high-powered committee headed by Prime Minister Narendra Modi removed Alok Kumar Verma as the chief of the probe agency on charges of corruption and dereliction of duty.

The petition, filed by NGO Common Cause and RTI activist Anjali Bhardwaj, has sought the laying down of specific mechanisms to ensure transparency in the process of appointment of CBI director.

It alleged that Rao's appointment was not made on the basis of recommendations of the high-powered selection committee, comprising the prime minister, the leader of the single largest opposition party and the chief justice of India or a judge of the apex court nominated by him.

"In fact, it appears that the committee was completely bypassed and had no role in the appointment of Nageswara Rao, thereby rendering the appointment illegal as it is in violation of the procedure for appointment of Director, CBI laid down in the DSPE (Delhi Special Police Establishment) Act," the plea, filed through advocate Prashant Bhushan, said.

It stated that the order of October 23 last year appointing Rao as the interim CBI director was quashed by the top court on January 8 but the government has "acted in a completely mala fide, arbitrary and illegal manner" to appoint him again in "complete contravention" of the DSPE Act.

The plea also sought a direction to the Centre to appoint a regular CBI director forthwith by following the procedure laid down in accordance with the provision of DSPE Act, as amended by the Lokpal and Lokayuktas Act, 2013.

Besides this, the petition has sought a direction to the government to ensure that "all records of deliberations and rational criteria related to short-listing and selection of the director, CBI, be properly recorded and made available to citizens in consonance with the provisions of the RTI Act".

It said the government should ensure transparency in short-listing, election and appointment process of CBI director by publicly disclosing, including through the website, the procedure and rational criteria for short-listing candidates, if any short-listing is done.

The plea sought a direction to the Centre that the process of selecting CBI director, including composition, mandate and minutes of the meetings of the search committee, should be disclosed publicly along with names of short-listed candidates so that people can inform the panel of any significant adverse information they may have about any such candidate.

It said that the minutes of the meetings of the selection committee should be publicly disclosed and recording of facts to indicate how the selected candidates are best suited for the post, disclosure of this information according to the provisions of the RTI Act after the appointment has been made should be there.

"In so far as the appointment of the Director, CBI is concerned, the Government of India has failed to adopt proper procedures to ensure transparency in the short-listing, selection and appointment," the plea said.&nbsp;

It claimed that lack of transparency in appointment of CBI director prevents any public scrutiny of the process and allows the "government to exercise undue influence" in the appointment process especially at the stage of short-listing of candidates.

Detailing the sequence of events relating to the appointment of Rao as the interim CBI director, the plea alleged that the entire process was "mala fide" as the government wanted to "appoint its own choice as CBI Director in the interim".

It said that independence and insulation of the CBI from government influence was key to ensuring its proper functioning.

"The Government of India has attempted to stifle the independence of the institution of the CBI by appointing the Director of the CBI in an arbitrary and illegal manner," the plea claimed.

The apex court had on January 8 allowed Alok Kumar Verma to return as the CBI director, albeit with his wings clipped, by setting aside the Centre and the CVC's orders divesting him of his powers and sending him on leave.

However, the top court had said it was "still open" for the high-powered committee, which selects the CBI chief, to consider the matter within a week since the Central Vigilance Commission (CVC) is probing the charges of corruption against Verma.

It had set aside October 23, 2018, orders of the CVC and the Department of Personnel and Training (DoPT) divesting Verma of his powers and asking Rao to look after the duties and functions of the agency's Director.

On January 10, the high-powered committee removed Verma as the CBI Director. The same day, an order was issued by the government giving Rao the charge of interim CBI director.

It alleged that Rao's appointment was not made on the basis of recommendations of the high-powered selection committee.

A plea was filed in the Supreme Court on Monday seeking a direction to quash the January 10 order of the government appointing IPS officer M Nageswara Rao as an interim director of the CBI. CBI's Additional Director Rao was given the charge of CBI interim chief on January till the appointment of a new director after a high-powered committee headed by Prime Minister Narendra Modi removed Alok Kumar Verma as the chief of the probe agency on charges of corruption and dereliction of duty. The petition, filed by NGO Common Cause and RTI activist Anjali Bhardwaj, has sought the laying down of specific mechanisms to ensure transparency in the process of appointment of CBI director. It alleged that Rao's appointment was not made on the basis of recommendations of the high-powered selection committee, comprising the prime minister, the leader of the single largest opposition party and the chief justice of India or a judge of the apex court nominated by him. "In fact, it appears that the committee was completely bypassed and had no role in the appointment of Nageswara Rao, thereby rendering the appointment illegal as it is in violation of the procedure for appointment of Director, CBI laid down in the DSPE (Delhi Special Police Establishment) Act," the plea, filed through advocate Prashant Bhushan, said. It stated that the order of October 23 last year appointing Rao as the interim CBI director was quashed by the top court on January 8 but the government has "acted in a completely mala fide, arbitrary and illegal manner" to appoint him again in "complete contravention" of the DSPE Act. The plea also sought a direction to the Centre to appoint a regular CBI director forthwith by following the procedure laid down in accordance with the provision of DSPE Act, as amended by the Lokpal and Lokayuktas Act, 2013. Besides this, the petition has sought a direction to the government to ensure that "all records of deliberations and rational criteria related to short-listing and selection of the director, CBI, be properly recorded and made available to citizens in consonance with the provisions of the RTI Act". It said the government should ensure transparency in short-listing, election and appointment process of CBI director by publicly disclosing, including through the website, the procedure and rational criteria for short-listing candidates, if any short-listing is done. The plea sought a direction to the Centre that the process of selecting CBI director, including composition, mandate and minutes of the meetings of the search committee, should be disclosed publicly along with names of short-listed candidates so that people can inform the panel of any significant adverse information they may have about any such candidate. It said that the minutes of the meetings of the selection committee should be publicly disclosed and recording of facts to indicate how the selected candidates are best suited for the post, disclosure of this information according to the provisions of the RTI Act after the appointment has been made should be there. "In so far as the appointment of the Director, CBI is concerned, the Government of India has failed to adopt proper procedures to ensure transparency in the short-listing, selection and appointment," the plea said. It claimed that lack of transparency in appointment of CBI director prevents any public scrutiny of the process and allows the "government to exercise undue influence" in the appointment process especially at the stage of short-listing of candidates. Detailing the sequence of events relating to the appointment of Rao as the interim CBI director, the plea alleged that the entire process was "mala fide" as the government wanted to "appoint its own choice as CBI Director in the interim". It said that independence and insulation of the CBI from government influence was key to ensuring its proper functioning. "The Government of India has attempted to stifle the independence of the institution of the CBI by appointing the Director of the CBI in an arbitrary and illegal manner," the plea claimed. The apex court had on January 8 allowed Alok Kumar Verma to return as the CBI director, albeit with his wings clipped, by setting aside the Centre and the CVC's orders divesting him of his powers and sending him on leave. However, the top court had said it was "still open" for the high-powered committee, which selects the CBI chief, to consider the matter within a week since the Central Vigilance Commission (CVC) is probing the charges of corruption against Verma. It had set aside October 23, 2018, orders of the CVC and the Department of Personnel and Training (DoPT) divesting Verma of his powers and asking Rao to look after the duties and functions of the agency's Director. On January 10, the high-powered committee removed Verma as the CBI Director. The same day, an order was issued by the government giving Rao the charge of interim CBI director.

RTI activist challenges appointment of Nageswara Rao as interim CBI director in Supreme Court

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission.

Jaitley, who speaking to reporters in the Parliament complex after the Supreme Court gave orders to <a href="http://www.wionews.com/india-news/supreme-court-sets-aside-government-order-reinstates-alok-verma-as-cbi-chief-188935">reinstate CBI director Alok Verma</a>, said the government would comply with the orders of the apex court.&nbsp;

"The government took this decision to protect the integrity of the CBI...Government took the action of sending two senior officers of CBI on leave on CVC's recommendation," he said, referring to the decision to send Verma and CBI Special Director Rakesh Asthana on leave.

He said the court has referred the matter to the committee to decide on the issue within one week.

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FM:This action was taken perfectly bonafide as there were cross-allegations made by both the officers,&amp;in accordance with recommendations of CVC.The govt had felt that in the larger interest of fair&amp;impartial investigation&amp;credibility of CBI,the 2 officers must recuse themselves.
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"The court apparently has strengthened the immunity given to the CBI director in the larger interest of the fair and impartial working of the CBI. At the same time, the court has devised an accountability mechanism. The directions of the court will obviously be complied with," he said.&nbsp;

The Supreme Court reinstated Verma, setting aside the Centre's decision to divest him of his powers, but restrained him from taking any major policy decision till the CVC probe into corruption charges against him is over.

The apex court said any further decision against Verma, who was sent on leave following the Centre's October 23 decision and retires on January 31, would be taken by the high-powered committee which selects and appoints the CBI director.

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission.

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission. Jaitley, who speaking to reporters in the Parliament complex after the Supreme Court gave orders to reinstate CBI director Alok Verma, said the government would comply with the orders of the apex court. "The government took this decision to protect the integrity of the CBI...Government took the action of sending two senior officers of CBI on leave on CVC's recommendation," he said, referring to the decision to send Verma and CBI Special Director Rakesh Asthana on leave. He said the court has referred the matter to the committee to decide on the issue within one week. FM:This action was taken perfectly bonafide as there were cross-allegations made by both the officers,&in accordance with recommendations of CVC.The govt had felt that in the larger interest of fair&impartial investigation&credibility of CBI,the 2 officers must recuse themselves. — ANI (@ANI) January 8, 2019 × "The court apparently has strengthened the immunity given to the CBI director in the larger interest of the fair and impartial working of the CBI. At the same time, the court has devised an accountability mechanism. The directions of the court will obviously be complied with," he said. The Supreme Court reinstated Verma, setting aside the Centre's decision to divest him of his powers, but restrained him from taking any major policy decision till the CVC probe into corruption charges against him is over. The apex court said any further decision against Verma, who was sent on leave following the Centre's October 23 decision and retires on January 31, would be taken by the high-powered committee which selects and appoints the CBI director.

CBI senior officers were sent on leave on CVC recommendation: Jaitley

Probity watchdog <a href="http://www.wionews.com/india-news/respond-to-cvc-report-as-soon-as-possible-wont-adjourn-next-hearing-supreme-court-to-cbi-director-alok-verma-178143">Central Vigilance Commission (CVC)</a> has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. &nbsp; &nbsp;

The move assumes significance with banks reporting large-scale fraud cases and the high number of bad loans or non-performing assets, they said.&nbsp;

Vigilance Commissioner T M Bhasin told PTI <a href="http://www.wionews.com/india-news/cbi-chief-verma-meets-central-vigilance-commissioner-denies-corruption-charges-against-him-176281">the CVC</a> is getting a review done of central statutory reports, concurrent auditors' reports and other auditor reports through chief vigilance officers of all public sector banks and insurance companies.&nbsp;

"The same (audit reports) are analyzed in the Commission and a corrective action plan is advised for time-bound implementation," he said.

Chief vigilance officers act as a distant arm of the CVC to check corruption and other fraudulent activities in an organization.&nbsp;

According to government data, various banks have reported an increase in cases of fraud during 2015-16 and 2017-18.

A total of 8,802 frauds have been reported by scheduled commercial banks and public sector banks in 2017-18 as against 7,794 in 2016-17 and 7,482 in 2015-16, according to a written reply given by the Finance Ministry in the Lok Sabha recently.

The Reserve Bank of India (RBI) monitors frauds reported by banks.&nbsp;

For management of fraud risk and to direct the focus of banks to early detection of loan frauds, prompt reporting to RBI and investigative agencies and timely initiation of staff accountability proceedings, RBI has issued a framework for dealing with loan frauds and Red Flagged Accounts (RFA). Timelines have been given for action incumbent on banks in dealing with loan frauds of Rs 50 crore and above, the ministry said.

The red flagging is done on an information technology platform where all banks report large exposure to entities/individuals so other banks can be forewarned about fraud risk, it said.&nbsp;

In October, the CVC completed a first-of-its-kind analysis of top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) among others.

The analysis focussed on the modus operandi, the amount involved, type of lending (viz. Consortium or individual), anomalies observed, loopholes that facilitated the perpetration of the fraud concerned and the systemic improvements required to plug the gaps in the system and procedures.

The frauds were classified and analysed for 13 sectors — gems and jewellery, manufacturing and industry, agro, media, aviation, service and project, discounting of cheques, trading, information technology, export business, fixed deposits, demand loan and letter of comfort.

The modus operandi of these top 100 loans has been thoroughly analysed and various loopholes or lapses have been identified, Bhasin had said after releasing a report on the matter.&nbsp;

Based on the findings, various industry-specific suggestions for systemic improvement have been given in the final report. The suggestions have also been sent to the Department of Financial Services and the RBI in order to plug the loopholes observed by the Commission, he said.

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday.

Probity watchdog Central Vigilance Commission (CVC) has started examining audit reports of state-run banks and insurance companies to check incidents of fraud and suggest corrective measures, officials said Wednesday. The move assumes significance with banks reporting large-scale fraud cases and the high number of bad loans or non-performing assets, they said. Vigilance Commissioner T M Bhasin told PTI the CVC is getting a review done of central statutory reports, concurrent auditors' reports and other auditor reports through chief vigilance officers of all public sector banks and insurance companies. "The same (audit reports) are analyzed in the Commission and a corrective action plan is advised for time-bound implementation," he said. Chief vigilance officers act as a distant arm of the CVC to check corruption and other fraudulent activities in an organization. According to government data, various banks have reported an increase in cases of fraud during 2015-16 and 2017-18. A total of 8,802 frauds have been reported by scheduled commercial banks and public sector banks in 2017-18 as against 7,794 in 2016-17 and 7,482 in 2015-16, according to a written reply given by the Finance Ministry in the Lok Sabha recently. The Reserve Bank of India (RBI) monitors frauds reported by banks. For management of fraud risk and to direct the focus of banks to early detection of loan frauds, prompt reporting to RBI and investigative agencies and timely initiation of staff accountability proceedings, RBI has issued a framework for dealing with loan frauds and Red Flagged Accounts (RFA). Timelines have been given for action incumbent on banks in dealing with loan frauds of Rs 50 crore and above, the ministry said. The red flagging is done on an information technology platform where all banks report large exposure to entities/individuals so other banks can be forewarned about fraud risk, it said. In October, the CVC completed a first-of-its-kind analysis of top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) among others. The analysis focussed on the modus operandi, the amount involved, type of lending (viz. Consortium or individual), anomalies observed, loopholes that facilitated the perpetration of the fraud concerned and the systemic improvements required to plug the gaps in the system and procedures. The frauds were classified and analysed for 13 sectors — gems and jewellery, manufacturing and industry, agro, media, aviation, service and project, discounting of cheques, trading, information technology, export business, fixed deposits, demand loan and letter of comfort. The modus operandi of these top 100 loans has been thoroughly analysed and various loopholes or lapses have been identified, Bhasin had said after releasing a report on the matter. Based on the findings, various industry-specific suggestions for systemic improvement have been given in the final report. The suggestions have also been sent to the Department of Financial Services and the RBI in order to plug the loopholes observed by the Commission, he said.

CVC examining audit reports of state-run banks, insurance companies to check fraud

The Central Vigilance Commission (CVC) Monday filed its preliminary probe report relating to CBI Director Alok Kumar Verma in a sealed cover in the Supreme Court.

A bench comprising Chief Justice Ranjan Gogoi and Justice S K Kaul took the report on record and fixed the matter for next hearing on November 16.

During the hearing, interim CBI Director M Nageswar Rao also filed a report on decisions taken by him since October 23 to 26, when the apex court had ordered for the CBI probe.

Solicitor General (SG) Tushar Mehta, appearing for the CVC, told the court that former apex court judge A K Patnaik supervised the CVC inquiry which was completed on November 10.

The CJI observed that the Registry was open on Sunday also but no intimation was given to the Registrar regarding the filing of the report.

Later the SG tendered an apology and said though he was not explaining the circumstances there was a delay on their part in submitting the report.

On October 26, the top court had appointed Justice Patnaik to supervise the ongoing inquiry of CVC against Verma.

The apex court had also issued notices to the Centre and the CVC seeking their replies on Verma's petition challenging the government's decision to divest him of his powers as CBI chief and sending him on leave.

Verma's deputy Rakesh Asthana, Special Director CBI, was also sent on leave by the Centre.

The court on October 26 had also set a deadline of two weeks for the CVC to complete the preliminary inquiry against the CBI director.

It had also barred Rao, who has been given interim charge of the CBI, from taking any major decision.

It had said that a list of all the decisions taken by Rao since October 23 including decisions with regard to transfer of investigations, change of investigating officer(s) etc will be furnished to the court in a sealed cover on or before November 12, 2018 whereafter orders, as would be appropriate, will be passed by the court."

Mehta had said that the CVC has been conducting an inquiry into the allegations made in the August 24 note/letter of the Cabinet Secretary with regard to Verma.

Besides the plea filed by Verma, the court is also seized of the PIL filed by NGO Common Cause, which has sought a probe by special investigation team against CBI officers including Asthana, and had issued notices to the Centre, CBI, CVC, Asthana, Verma and Rao asking them to respond to it by November 12.

Asthana has also moved the Supreme Court with a separate petition in the matter and has sought removal of Verma from the post of CBI Director. 
Later, on November 4, Congress leader Mallikarjun Kharge had moved the top court contending that divesting Verma of his statutory powers and functions is "completely illegal and arbitrary".

In an interlocutory application filed in the pending petition, Kharge, who is also a member of the three-member selection committee which appoints the CBI director, said, "As a concerned stakeholder he brings to the attention of the court the brazen and illegal actions" of the political executive in interfering with the independent functioning of the CBI director.

The Central Vigilance Commission (CVC) Monday filed its preliminary probe report relating to CBI Director Alok Kumar Verma in a sealed cover in the Supreme Court.

The Central Vigilance Commission (CVC) Monday filed its preliminary probe report relating to CBI Director Alok Kumar Verma in a sealed cover in the Supreme Court. A bench comprising Chief Justice Ranjan Gogoi and Justice S K Kaul took the report on record and fixed the matter for next hearing on November 16. During the hearing, interim CBI Director M Nageswar Rao also filed a report on decisions taken by him since October 23 to 26, when the apex court had ordered for the CBI probe. Solicitor General (SG) Tushar Mehta, appearing for the CVC, told the court that former apex court judge A K Patnaik supervised the CVC inquiry which was completed on November 10. The CJI observed that the Registry was open on Sunday also but no intimation was given to the Registrar regarding the filing of the report. Later the SG tendered an apology and said though he was not explaining the circumstances there was a delay on their part in submitting the report. On October 26, the top court had appointed Justice Patnaik to supervise the ongoing inquiry of CVC against Verma. The apex court had also issued notices to the Centre and the CVC seeking their replies on Verma's petition challenging the government's decision to divest him of his powers as CBI chief and sending him on leave. Verma's deputy Rakesh Asthana, Special Director CBI, was also sent on leave by the Centre. The court on October 26 had also set a deadline of two weeks for the CVC to complete the preliminary inquiry against the CBI director. It had also barred Rao, who has been given interim charge of the CBI, from taking any major decision. It had said that a list of all the decisions taken by Rao since October 23 including decisions with regard to transfer of investigations, change of investigating officer(s) etc will be furnished to the court in a sealed cover on or before November 12, 2018 whereafter orders, as would be appropriate, will be passed by the court." Mehta had said that the CVC has been conducting an inquiry into the allegations made in the August 24 note/letter of the Cabinet Secretary with regard to Verma. Besides the plea filed by Verma, the court is also seized of the PIL filed by NGO Common Cause, which has sought a probe by special investigation team against CBI officers including Asthana, and had issued notices to the Centre, CBI, CVC, Asthana, Verma and Rao asking them to respond to it by November 12. Asthana has also moved the Supreme Court with a separate petition in the matter and has sought removal of Verma from the post of CBI Director. Later, on November 4, Congress leader Mallikarjun Kharge had moved the top court contending that divesting Verma of his statutory powers and functions is "completely illegal and arbitrary". In an interlocutory application filed in the pending petition, Kharge, who is also a member of the three-member selection committee which appoints the CBI director, said, "As a concerned stakeholder he brings to the attention of the court the brazen and illegal actions" of the political executive in interfering with the independent functioning of the CBI director.

CBI feud: CVC submits probe report in Supreme Court, hearing on November 16

The government on Wednesday alleged that CBI Director Alok Verma did not back up the allegations of corruption against his former second-in-command Rakesh Asthana.&nbsp;

The allegations of corruption were levelled before Asthana was made Special Director of the CBI. Verma had at the time written to the Central Vigilance Commission, saying the bureau was investigating Asthana.&nbsp;

Asthana later wrote to the Cabinet Secretary and the CVC alleging that Verma was guilty of corruption.&nbsp;

A little later the CBI filed an FIR against Asthana.&nbsp;

The government stepped in on Wednesday, sending both Verma and Asthana on leave. Finance Minister Arun Jaitley said <a href="http://www.wionews.com/india-news/government-action-intended-to-restore-credibility-of-cbi-arun-jaitley-on-sending-cbi-directors-on-leave-173155">it was necessary to do so</a> to maintain the credibility of the country's premier investigative agency.&nbsp;

In its statement on Wednesday, the government said the CVC, on receipt of a complaint on August 24, 2018 containing various allegations against senior functionaries of the CBI, had served three notices under Section 11 of the CVC Act, 2003 on September 11 on the CBI director to produce files and documents before the commission on September 14.&nbsp;

Various opportunities were given to produce such records and after several adjournments, the CBI assured the commission on September 24 of furnishing them within three weeks.&nbsp;

"Despite repeated assurances and reminders, the Director, CBI, failed to furnish the records/files before the commission. The CVC has observed that Director, CBI, has not been cooperating in making available records/files sought by the commission relating to serious allegations," the statement read.

The CVC has also observed that the CBI director has been non-cooperative, non-compliant with the requirements/directions and has created willful obstructions in the functioning of the commission which is a constitutional body.&nbsp;

Asthana is thought of as being close to Prime Minister Narendra Modi and BJP President Amit Shah.&nbsp;

Asthana handled the Godhra train-burning case which led to the Gujarat riots of 2002, and the Sohrabuddin Sheikh fake encounter case in which Shah was at one time accused.

&nbsp;(With inputs from PTI)

The government on Wednesday alleged that CBI Director Alok Verma did not back up the allegations of corruption against his former second-in-command Rakesh Asthana.

The government on Wednesday alleged that CBI Director Alok Verma did not back up the allegations of corruption against his former second-in-command Rakesh Asthana. The allegations of corruption were levelled before Asthana was made Special Director of the CBI. Verma had at the time written to the Central Vigilance Commission, saying the bureau was investigating Asthana. Asthana later wrote to the Cabinet Secretary and the CVC alleging that Verma was guilty of corruption. A little later the CBI filed an FIR against Asthana. The government stepped in on Wednesday, sending both Verma and Asthana on leave. Finance Minister Arun Jaitley said it was necessary to do so to maintain the credibility of the country's premier investigative agency. In its statement on Wednesday, the government said the CVC, on receipt of a complaint on August 24, 2018 containing various allegations against senior functionaries of the CBI, had served three notices under Section 11 of the CVC Act, 2003 on September 11 on the CBI director to produce files and documents before the commission on September 14. Various opportunities were given to produce such records and after several adjournments, the CBI assured the commission on September 24 of furnishing them within three weeks. "Despite repeated assurances and reminders, the Director, CBI, failed to furnish the records/files before the commission. The CVC has observed that Director, CBI, has not been cooperating in making available records/files sought by the commission relating to serious allegations," the statement read. The CVC has also observed that the CBI director has been non-cooperative, non-compliant with the requirements/directions and has created willful obstructions in the functioning of the commission which is a constitutional body. Asthana is thought of as being close to Prime Minister Narendra Modi and BJP President Amit Shah. Asthana handled the Godhra train-burning case which led to the Gujarat riots of 2002, and the Sohrabuddin Sheikh fake encounter case in which Shah was at one time accused. (With inputs from PTI)

Alok Verma did not back up allegations against Rakesh Asthana, says government

Former NIA chief Sharad Kumar was on Sunday appointed vigilance commissioner in the probity watchdog CVC, news agency PTI reported quoting officials.

The 62-year-old Kumar, a 1979-batch IPS officer of the Haryana cadre, retired in September last year after heading the National Investigation Agency, an anti-terror probe organisation, for over four years.

According to an official order, Kumar has been appointed vigilance commissioner in the Central Vigilance Commission for a term of four years or till he attains the age of 65.

The post was lying vacant since February.

According to the rules, Kumar's tenure will come to an end in October 2020. &nbsp &nbsp

The Commission comprises central vigilance commissioner and two vigilance commissioners.&nbsp

At present, K V Chowdary is the CVC and T M Bhasin is the other vigilance commissioner.&nbsp

According to the rules, Kumar's tenure will come to an end in October 2020.

Former NIA chief Sharad Kumar was on Sunday appointed vigilance commissioner in the probity watchdog CVC, news agency PTI reported quoting officials. The 62-year-old Kumar, a 1979-batch IPS officer of the Haryana cadre, retired in September last year after heading the National Investigation Agency, an anti-terror probe organisation, for over four years. According to an official order, Kumar has been appointed vigilance commissioner in the Central Vigilance Commission for a term of four years or till he attains the age of 65. The post was lying vacant since February. According to the rules, Kumar's tenure will come to an end in October 2020. The Commission comprises central vigilance commissioner and two vigilance commissioners. At present, K V Chowdary is the CVC and T M Bhasin is the other vigilance commissioner.

Ex-NIA chief Sharad Kumar appointed vigilance commissioner in CVC

The Central Vigilance Commission (CVC) today said since Aadhaar was being made mandatory for numerous financial transactions and property deals, it could be used effectively in tracking the ill-gotten wealth of corrupt bureaucrats.

The anti-corruption watchdog was optimistic that information made available through a person's Permanent Account Number (PAN) and Aadhaar cards could help the CVC check if financial deals carried out by the card-holder were within his or her means.

"We have prepared a concept paper. The idea is to prepare some kind of an operational procedure and if possible some kind of software so that once it is decided to investigate X, Y or Z, we can connect in a seamless manner with other departments to get the necessary details (regarding the person) using Aadhaar,"&nbspCentral Vigilance Commissioner K V Chowdary told PTI in an interview.

He said data about financial transactions including those related to immovable properties and shares were available in various domain areas of Income Tax authorities, registration departments or Financial Intelligence Unit (FIU) and other government agencies.

With Aadhaar being made mandatory for some financial transactions, Chowdary said it would be in a position to get data from a few centralised agencies and use the information for the purpose of determining a transaction made by an individual and to probe Disproportionate Assets (DA).

The CVC said CBI and other investigating agencies earlier did not have easy access to such data.

"Now that the data is available and it is very valuable, it needs to be leveraged. This data... Will give a much better picture of receipt, expenditure and investments of an officer,"&nbspsaid Chowdary, who headed the Income Tax Department before taking over as the chief of the probity watchdog.

Expressing the resolve to take every possible step and route to weed out corruption in line with Prime Minister Narender Modi's vision for a "corruption-free nation"&nbspand war against black money, he said the human aspect -- such as the role of individuals and auditors -- in the Punjab National Bank (PNB) loan scam showed that investigation needs to look at the use of technology for misdeeds and for covering them up.

This, Chowdary said, would require some software preparation, Standard Operating Procedures and perhaps some approvals." It is under preparation," he said.&nbsp

The CVC said CBI and other investigating agencies earlier did not have easy access to such data

The Central Vigilance Commission (CVC) today said since Aadhaar was being made mandatory for numerous financial transactions and property deals, it could be used effectively in tracking the ill-gotten wealth of corrupt bureaucrats. The anti-corruption watchdog was optimistic that information made available through a person's Permanent Account Number (PAN) and Aadhaar cards could help the CVC check if financial deals carried out by the card-holder were within his or her means. "We have prepared a concept paper. The idea is to prepare some kind of an operational procedure and if possible some kind of software so that once it is decided to investigate X, Y or Z, we can connect in a seamless manner with other departments to get the necessary details (regarding the person) using Aadhaar,"&nbspCentral Vigilance Commissioner K V Chowdary told PTI in an interview. He said data about financial transactions including those related to immovable properties and shares were available in various domain areas of Income Tax authorities, registration departments or Financial Intelligence Unit (FIU) and other government agencies. With Aadhaar being made mandatory for some financial transactions, Chowdary said it would be in a position to get data from a few centralised agencies and use the information for the purpose of determining a transaction made by an individual and to probe Disproportionate Assets (DA). The CVC said CBI and other investigating agencies earlier did not have easy access to such data. "Now that the data is available and it is very valuable, it needs to be leveraged. This data... Will give a much better picture of receipt, expenditure and investments of an officer,"&nbspsaid Chowdary, who headed the Income Tax Department before taking over as the chief of the probity watchdog. Expressing the resolve to take every possible step and route to weed out corruption in line with Prime Minister Narender Modi's vision for a "corruption-free nation"&nbspand war against black money, he said the human aspect -- such as the role of individuals and auditors -- in the Punjab National Bank (PNB) loan scam showed that investigation needs to look at the use of technology for misdeeds and for covering them up. This, Chowdary said, would require some software preparation, Standard Operating Procedures and perhaps some approvals." It is under preparation," he said.

Aadhaar can be used to detect corruption by bureaucrats: Central Vigilance Commission

Punjab National Bank denied media reports that claimed that the bank has transferred close to <a href="http://www.wionews.com/india-news/post-scam-pnb-transfers-nearly-18000-employees-after-cvc-rap-33622" target="_blank">18,000 employees </a>due to the ongoing probe in the Rs 11,400 crore Nirav Modi scam.

In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19.

&ldquo;There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect,&rdquo; the bank said in a press statement.&nbsp;

&ldquo;The bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank,&quot; the bank said.

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In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. (Others)
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&quot;The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the Bank,&quot; it added.

Statement also claimed that these transfers have not impacted the smooth functioning of the branches

Punjab National Bank denied media reports that claimed that the bank has transferred close to 18,000 employees due to the ongoing probe in the Rs 11,400 crore Nirav Modi scam. In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. “There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect,” the bank said in a press statement. “The bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank," the bank said. In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. (Others) × "The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the Bank," it added.

Punjab National Bank denies reports of transferring 18,000 employees

More than 18 thousand employees of Punjab National Bank have been transferred in under one week as per Central Vigilance Commission&#39;s directive.

CVC&#39;s order comes in the wake of the ongoing investigations in the Rs 11,400 crore PNB scam involving Nirav Modi, Mehul Choksi among others.

CVC&#39;s order is to be complied with by all public sector banks and calls for all banking officials, employed for at least three years, to be transferred.&nbsp;

The Commission on Monday issued an advisory to all the public sector banks ordering them to transfer the officers who have completed three years as on December 31, 2017.&nbsp;

All clerical staff who have completed five years as on December 31, 2017 &quot;should be transferred immediately&quot;.&nbsp;

&quot;As per Central Vigilance Commission guidelines, all officers should be rotated every 3 years. Further, as per Bank&#39;s Transfer Policy for Officers, no officer should be retained in the same post for a period in excess of 3 years and in the same station (municipal limits) for a period in excess of 5 years,&quot; said a BOI office memorandum.&nbsp;

Meanwhile, the CBI has already arrested five Punjab National Bank officials including Gokulnath Shetty, a former Deputy Manager and Manoj Kharat, Single Window Operator.

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<h5>Shetty is known to have issued LoUs at a frantic pace for at least 6 years before he retired in May 2017 after his long tenure at PNB&#39;S Mumbai Brady House branch.&nbsp;</h5>
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Three officers at PNB&#39;s MCB Brady House branch in Mumbai, who were arrested on Monday, were yesterday sent to police custody until March 3. They are Bechhu Tiwari, Chief Manager in charge of Forex department; Yashwant Joshi, Scale II, Manager Forex department; and Praful Sawant, Scale I Officer Export.

It must be noted that Shetty, the retired deputy manager of Punjab National Bank (PNB) arrested on Saturday, figures at the centre of the scam for defrauding the public sector bank.&nbsp;

Shetty is alleged to have helped Nirav Modi and Mehul Choksi by issuing scores of letters of undertaking (LoUs).&nbsp;

PNB previously shared that close 143 LoUs were issued in 63 days, starting March 1, 2017. Around 150 LoUs were issued since 2011.&nbsp;

Shetty is known to have issued LoUs at a frantic pace for at least 6 years before he retired in May 2017 after his long tenure at PNB&#39;S Mumbai Brady House branch.&nbsp;

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Finance Minister Arun Jaitley yesterday called out to the auditors, senior banking officials, chartered accountants and supervisory agencies &quot;to introspect&quot; and identify the loopholes and shortcomings in the Indian banking sector that led to such a massive fraud.&nbsp;

The Finance Minister decried a &quot;lack of ethics&quot; among sections of Indian business on Tuesday and criticised inadequate oversight by auditors and regulators after the financial sector was rocked by the $1.8 billion fraud.

&quot;When authority is given to the management then you are expected to utilize authority effectively and in the right manner. Therefore, the question for management here is if they were found lacking, on the face of it seems they were,&quot; Jaitley noted.&nbsp;

&quot;Also what were the auditors doing? If both internal and external auditors have looked other way and failed to detect then I think CA professionals must introspect. Supervisory agencies also must introspect what are the additional mechanisms they have to put in place,&quot; he added further.&nbsp;

CVC's order comes in the wake of the ongoing investigations in the Rs 11,400 crore PNB scam

More than 18 thousand employees of Punjab National Bank have been transferred in under one week as per Central Vigilance Commission's directive. CVC's order comes in the wake of the ongoing investigations in the Rs 11,400 crore PNB scam involving Nirav Modi, Mehul Choksi among others. CVC's order is to be complied with by all public sector banks and calls for all banking officials, employed for at least three years, to be transferred. The Commission on Monday issued an advisory to all the public sector banks ordering them to transfer the officers who have completed three years as on December 31, 2017. All clerical staff who have completed five years as on December 31, 2017 "should be transferred immediately". "As per Central Vigilance Commission guidelines, all officers should be rotated every 3 years. Further, as per Bank's Transfer Policy for Officers, no officer should be retained in the same post for a period in excess of 3 years and in the same station (municipal limits) for a period in excess of 5 years," said a BOI office memorandum. Meanwhile, the CBI has already arrested five Punjab National Bank officials including Gokulnath Shetty, a former Deputy Manager and Manoj Kharat, Single Window Operator. Shetty is known to have issued LoUs at a frantic pace for at least 6 years before he retired in May 2017 after his long tenure at PNB'S Mumbai Brady House branch. × Three officers at PNB's MCB Brady House branch in Mumbai, who were arrested on Monday, were yesterday sent to police custody until March 3. They are Bechhu Tiwari, Chief Manager in charge of Forex department; Yashwant Joshi, Scale II, Manager Forex department; and Praful Sawant, Scale I Officer Export. It must be noted that Shetty, the retired deputy manager of Punjab National Bank (PNB) arrested on Saturday, figures at the centre of the scam for defrauding the public sector bank. Shetty is alleged to have helped Nirav Modi and Mehul Choksi by issuing scores of letters of undertaking (LoUs). PNB previously shared that close 143 LoUs were issued in 63 days, starting March 1, 2017. Around 150 LoUs were issued since 2011. Shetty is known to have issued LoUs at a frantic pace for at least 6 years before he retired in May 2017 after his long tenure at PNB'S Mumbai Brady House branch. Finance Minister Arun Jaitley yesterday called out to the auditors, senior banking officials, chartered accountants and supervisory agencies "to introspect" and identify the loopholes and shortcomings in the Indian banking sector that led to such a massive fraud. The Finance Minister decried a "lack of ethics" among sections of Indian business on Tuesday and criticised inadequate oversight by auditors and regulators after the financial sector was rocked by the $1.8 billion fraud. "When authority is given to the management then you are expected to utilize authority effectively and in the right manner. Therefore, the question for management here is if they were found lacking, on the face of it seems they were," Jaitley noted. "Also what were the auditors doing? If both internal and external auditors have looked other way and failed to detect then I think CA professionals must introspect. Supervisory agencies also must introspect what are the additional mechanisms they have to put in place," he added further.

Post-scam, PNB transfers nearly 18,000 employees after CVC rap

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