The Central Bureau of Investigation (CBI) has filed a case against former Indian Railway Finance Corporation (IRFC) Chairman and Managing Director (CMD) Amitabh Banerjee and others over alleged irregularities in fund spending.
The case was filed on August 28, based on a complaint from the Ministry of Railways. The complaint alleged that Banerjee and others had misused funds by making unauthorized payments to vendors and consultants.
“A written complaint on February 23 was received by Choudhury and he alleged financial embezzlement on part of officials of IRFC, including Banerjee, in connection with procurement/purchase and distribution of exorbitant gold and non-gold items from funds of IRFC. The Vigilance branch of the Railway Board scrutinized two files of IRFC and revealed serious irregularities with respect to procurement and distribution of gold and non-gold items. The complainant alleged that private persons are involved,”
the FIR alleged
Banerjee has denied the allegations and said that he will cooperate with the CBI investigation. He has also said that he is confident of being cleared of all charges.
The CBI is currently investigating the case and has summoned Banerjee and other accused persons for questioning. The agency is also likely to conduct searches at their premises.
This is the latest in a series of cases involving allegations of corruption against former IRFC officials. In 2022, the CBI had filed a case against former IRFC CMD Arun Kumar Jain and others over alleged irregularities in the award of contracts.
The IRFC is a non-banking financial company (NBFC) that was set up by the Government of India in 1986. The company provides loans to Indian Railways for financing its capital expenditure projects.