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CLB chief a crorepati

delhi Updated: Dec 01, 2009 00:46 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Central Bureau of Investigation (CBI) on Monday seized Rs 1 crore worth of fixed deposit receipts (FDR), cash and jewellery from three bank lockers and the residence of R Vasudevan, acting chairman of Company Law Board (CLB), who was arrested by the agency last week in a bribery case.

Vasudevan, who is facing bribery charges under the Prevention of Corruption Act, would now be booked for possessing disproportionate assets as well, since the assets seized from him were unaccounted for, revealed an agency investigator who is not authorised to talk to the media. Confirming this, CBI’s spokesperson Harsh Bhal told HT, “He (Vasudevan) will now be charged for possessing disproportionate assets.”

Monday’s recoveries were made after the agency’s investigators came across three keys at Vasudevan’s Chennai residence during a search.

“The keys, we found out, were of three bank lockers of Vasudevan. Cash amounting to Rs 40 lakh, 30.42 lakh and 14.16 lakh was recovered from the three lockers, respectively. Cash amounting to Rs 75,000 was found from his Chennai residence as well,” an agency investigator told HT.

“He has a fourth locker, expected to contain several lakh rupees as well, which we have not opened yet,” the official added. “In addition, 12 bank passbooks, either in his (Vasudevan's) name or in the name of his family members have been recovered whose balances are yet to be ascertained,” Bhal told HT.

Gold jewellery weighing around 450 gram and around 12 kilogram of silver jewellery were seized from Vasudevan’s Chennai house as well. The estimated cost of the jewellery is around Rs 7 lakh.

Vasudevan, remanded to judicial custody for two weeks on Monday, was arrested “red handed” last Monday for allegedly accepting Rs 7 lakh cash as bribe from a company secretary (Manoj Banthia) for promising to give a favourable order in a petition involving officials of a Hindi language daily.

The CBI, apart from the bribe amount, had also recovered Rs 48 lakh from Vasudevan’s South Extension apartment last Monday.