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CWG: CBI starts property attachment of accused

Last Updated: Wednesday, August 3, 2011 - 14:54

New Delhi: The CBI on Wednesday began attachment
of properties of three absconding accused in connection with
irregularities in the award of a contract to a Swiss firm
during the Commonwealth Games causing a loss of over Rs 95
crore to the exchequer.
In its charge sheet, CBI has accused Anil Madan and P
D Arya of Faridabad-based Gem International and A K Reddy of
Hyderabad-based AKR Constructions of conniving with the
Organising Committee officials to get the contract awarded to
Switzerland-based Swiss Timing at Rs 157.62 crore, ignoring
the bid of a Spanish firm which was for Rs 62.01 crore.

The three accused, however, could not be traced by the
agency following which it sought permission to attach their
properties from the special CBI court which recently granted
them permission, sources said.

Teams of CBI sleuths reached the premises of the
accused at Faridabad and Hyderabad and started the proceedings
this morning, sources in the agency said.

The CBI had alleged that Madan and Arya allegedly
conspired with the Organising Committee officials for getting
the Timing Scoring and Results system contract awarded to
Swiss Timing and received a payment of nearly Rs 23.21 crore
from it for perfunctory services.
"In this endeavour, they also conspired with the CMD
of Hyderabad-based private constructions company who raised
highly inflated and bogus invoices for Rs 11.28 for temporary
cabling work, in order to justify the huge payment received
from the Swiss-based company," a CBI spokesperson had said.


First Published: Wednesday, August 3, 2011 - 14:54
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