Free To Flee: CBI Dilutes Look Out Notice Against Aircel Promoter Being Investigated In 600 Cr Fraud
Sivasankaran is now reportedly in Portugal.
Central Bureau of Investigation (CBI) has diluted the provisions of the lookout circular issued against former Aircel promoter C Sivasankaran, who is under investigation for defrauding IDBI Bank of Rs 600 crore, reported The Times of India.
The new diluted provisions allow Sivasankaran to travel out of India.
Reportedly, the investigating officer and concerned head of the CBI Bangalore branch had opposed the move. However, the lookout circular provisions were still toned down allegedly on directions from the higher echelons.
Furthermore, the case investigation was also handed over to anti-corruption-3 unit in Delhi from Bank Securities and Fraud Cell (BS&FC), Bangalore.
On April 13 this year, the investigation agency had registered a case of defrauding at BS&FC Bangalore against 39 persons and companies. The agency then issued circulars to the concerned persons including Sivasankaran.
Sivasankaran, who holds citizenship of Seychelles, was summoned to India for questioning between August 12 and September 1. CBI’s top management gave only a verbal order to the investigation officer and BS&FC to inform the immigration authorities to dilute the circular provisions, thus allowing Sivasankaran and others to travel abroad.
According to the TOI report, when the investigation officer and Bangalore unit refused to follow the directions, the case was shifted to Delhi branch to facilitate the change. Sivasankaran is now reportedly in Portugal.
CBI had similarly diluted the lookout notice for Vijay Mallya, which allowed him to flee India after defrauding Indian banks of Rs. 9000 crore. The Narendra Modi-led Bharatiya Janata Party at the centre has been facing allegations of ‘crony-capitalism’ since Nirav Modi, Mehul Choksi and Mallya have been able to escape the country after committing bank frauds worth thousands of crores.