Helion MD seeks to withdraw complaint

Taking a u-turn on Monday, a hi-profile complainant in the R400 crore Citibank fraud case decided not to pursue his police complaint filed against the bank on January 4. Sanjeev K Ahuja reports.

Taking a u-turn on Monday, a hi-profile complainant in the R400 crore Citibank fraud case decided not to pursue his police complaint filed against the bank on January 4.

HT Image

Sanjeev Aggarwal, managing director, Helion Advisors Private Limited, had filed an FIR against 11 Citibank officials, including global chief executive officer Vikram S Pandit and chairman William R Rhodes, alleging he was duped of R 32.43 crore by bank relationship manager Shivraj Puri.

The Gurgaon police, however, clarified that Aggarwal's statement did not mean that the FIR against Citibank had been withdrawn.

“The police would continue its investigation and also question local Citibank officials, except for the top brass. The discretion to quash the FIR remains with the police department and not the complainant. An FIR is a state subject,” said Gurgaon police commissioner SS Deswal.

In a written statement, circulated to the media by his PR agency, Aggarwal said, “With reference to the FIR registered on January 4, concerning the fraudulent investment of funds from our account, we have today decided not to pursue our complaint against Citibank and its senior management. Through discussions with Citibank, we have been apprised of additional facts we were not aware of earlier, and the complaint against Citibank and its senior executive officers is not appropriate. We regret any inadvertent impact the complaint has had on the reputation of Citibank and its senior executive officers.”

Aggarwal, meanwhile, switched his mobile phone off and was not available for comments on the sudden change in stand against Citibank.