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CBI casting the net too wide in ICICI-Videocon case: Jaitley
New Delhi, Jan 25 (IANS) Questioning the Central Bureau of Investigation in the ICICI Bank-Videocon loan case, Union Minister Arun Jaitley on Friday blasted the CBI for naming the “who’s who of the banking industry” without concentrating on the “bull’s eye”.
“There is a fundamental difference between investigative adventurism and professional investigation,” Jaitley, who is undergoing medical treatment in the US, wrote in a Facebook blog post blaming the CBI for casting the net too wide.
On Thursday, the CBI lodged an FIR against former ICICI Bank chief Chanda Kochhar, her husband Deepak Kochhar and industrialist V.N. Dhoot in a Rs 3,250-crore loan involving the Videocon Group and the ICICI Bank.
The investigating agency said it will also probe several former and current senior executives of the bank, including current Managing Director and CEO of ICICI Bank Sandeep Bakshi and current chief of New Development Bank of BRICS K.V. Kamath.
“Sitting thousands of kilometers away, when I read the list of potential targets in the ICICI case, the thought that crossed my mind was again the same – instead of focusing primarily on the target, is a journey to nowhere (or everywhere) being undertaken? If we include the entire who’s who of the banking Industry – with or without evidence – what cause are we serving or actually hurting,” the former Finance Minister said.
Jaitley said while adventurism leads to media leaks, ruins reputations and eventually invites strictures and not convictions, professional investigation targets the real accused on the basis of actual and admissible evidences and rules out fanciful presumptions.
“One of the reasons why our conviction rates are poor is that adventurism and megalomania overtake our investigators and professionalism takes the back seat,” he wrote.
Other members of the ICICI Bank credit committee who the CBI may investigate include CEO of Standard Chartered Bank in India Zarin Daruwala, Tata Capital CEO Rajiv Sabharwal, ICICI Prudential Life Insurance CEO N.S. Kannan and Goldman Sachs (India) Securities Chairman Sonjoy Bhattacharya.
“My advice to our investigators – Follow the advice of Arjun in the Mahabharat – Just concentrate on the bull’s eye,” the Minister said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.