14 June, 2021

Silence Of The Bulls

With the big fish in the net, it's evident that there's more to the scam than just a single case of alleged corruption

Silence Of The Bulls
For the first two days, Central Bureau of Investigation (cbi) sleuths questioning disgraced ex-uti chairman P.S. Subramanyam in Mumbai were perplexed by his stoic silence. But on the third day, his revelations sent the interrogators into a spin—that all decisions pertaining to the controversial companies of Ketan Parekh were taken at the behest of senior bureaucrats from Delhi. This is not all. Subramanyam, according to highly-placed sources, told his interrogators that he has many of his conversations with top officials on tape and neatly transcribed!

Senior finance ministry officials now admit that in the last two years, they had received several complaints from uti board members about strange investment decisions. Says a top finance ministry bureaucrat: "But whenever Subramanyam was contacted, he never talked of any pressure. He said the board was unanimous on the decisions and defended these as pure market-play. In fact, we were given a report in May that a lower but reasonable dividend will be given to the US-64 investors."

Will the real story of the scam ever...

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