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HindustanTimes Thu,25 Dec 2014

ED questions Verma on money laundering charges; to quiz others

Rajesh Ahuja, Hindustan Times  New Delhi, May 13, 2011
First Published: 01:18 IST(13/5/2011) | Last Updated: 01:20 IST(13/5/2011)

The Enforcement Directorate (ED) investigators questioned former director general of Commonwealth Games Organising Committee (OC) VK Verma on charges of money laundering in the timing, scoring and result (TSR) scam which allegedly caused a loss of around R95 crore to the exchequer.

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The ED has registered a case under the prevention of money laundering act (PMLA) in the matter. Verma was arrested by the CBI on February 23, 2011, in the same case on charges of criminal conspiracy to award the TSR system contract to Swiss Timing Limited for R141 crore.

Therefore, the ED officials took permission from court to question the former director general of Commonwealth Games Organising Committee in the Tihar Jail, where he is lodged in judicial custody.

The Central Bureau of Investigation (CBI) has alleged that a competitor of Swiss Timing had quoted a price of R46 crore to execute the contract but the OC overlooked its bid in a premeditated manner to favour Swiss Timing Limited.

Apart from Verma, the CBI has also arrested former OC's former chairman Suresh Kalmadi, former secretary general Lalit Bhanot, former deputy director general (procurement) Surjeet Lal and former joint director general ASV Prasad.

The Enforcement Directorate also plans to question all other accused as well.


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