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Clear nexus between two accused: CBI probe

delhi Updated: Dec 08, 2010 00:01 IST
Peeyush Khandelwal
Peeyush Khandelwal
Hindustan Times
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The probe by the Central Bureau of Investigation has revealed that Neera Yadav, who served as the chairman-cum-chief executive officer at Noida Authority from 1994 to 1995 and is the former Uttar Pradesh chief secretary, entered into a criminal conspiracy with businessman Ashok Chaturvedi.

She relaxed eligibility conditions in a land allotment scheme that benefited two companies. Chaturvedi headed the Flex Group of Industries, which in the CBI chargesheet, was one of the companies Yadav favoured. The other company is Flex Engineering Limited.

In March 1994, a decision was taken to launch a corporate group housing scheme for functional industries and institutional units in Noida during the 76th board meeting of Noida.

The scheme was launched in June that year, offering land at R1,600 per sq metres to the companies fulfilling the eligibility criteria. Six applicants, including the two aforementioned companies, applied.

The investigations have revealed that Flex Engineering Limited was not eligible for the scheme based on capital investment and annual turnover criteria. But during the 78th board meeting in October 1994, Yadav relaxed the eligibility conditions.

"She also reduced the rate of land from R1,600 per sq metre to R1,200 per sq metre without assigning any valid reason," said a CBI source.

Later the agenda note was put up before the board at a meeting on 5 October and it was accordingly approved.

"A small cryptic advertisement was published in Hindi and English dailies on 19 October, 1994 and 21 October, 1994, without mentioning either the revised eligibility and revised costs conditions," a CBI official told Hindustan Times.

The chargesheet revealed that applications for both the companies were received by Yadav on 20 October, two days prior to the opening of the scheme.

"Yadav herself prepared the proposal for allotment of land to the two companies on 21 October. The proposals were finally approved by her on 22 October, 1994, on the opening day of the scheme," the CBI chargesheet stated.