27 January, 2021

The Grease Guzzlers

CBI cracks an officer-dealer cartel that siphoned off Rs 1,500 cr

The Grease Guzzlers

Until a few years ago, management trainees picking up appointment letters from state-owned oil companies were reminded of an in-house industry dictum: life is never short of cash up to the level of an assistant manager. The rackets which covertly-and at times overtly-flourished at almost all regional centres of the oil giants have now taken the shape of a Rs 1,500-crore high-speed diesel (HSD) scam. And, according to sources in the CBI which has cracked the nation-wide officer-dealer-retailer network, this figure may be only half the iceberg.

Last month, when the CBI raided more than 300 oil depots and residences of junior officers of three public sector oil majors in the northern and western regions, their catch was devastating. Almost each officer had lakhs of rupees stashed under their pillows and amassed wealth highly disproportionate to their known sources of income. "This is a major racket and raids are still continuing across the country. The officers pilfered oil, tampered with documents and did almost anything and everything they wanted. It seems there was no...



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