CBI begins probe in payments to STCs by steel firm

NEW DELHI: The CBI has begun its probe in the alleged payments made to state trading corporations, the entries of which were reportedly found in the account books of a leading steel manufacturing group by the Income Tax department.

The Mumbai branch of the agency has registered a preliminary enquiry in connection with the alleged entries showing purported payments made to state trade corporations by the steel group, CBI sources said.

They said two officials of the corporation are under the scanner of the agency for allegedly receiving bribe from the steel firm whose accounts were under scrutiny by the Income Tax Department in 2010.

The sources said they have collected from the Income Tax department all possible records related to account book entries, recovered by the department during its searches in 2010, showing alleged payments made to the STC officials.

The I-T department had seized account ledgers from the Delhi office of the steel manufacturer in 2010 and during its scrutiny, it was found there were entries of alleged payments against the column where several PSUs were mentioned.

The I-T department had sent the documents to chief vigilance officers of all those PSUs to initiate a probe but handed over the documents to the CBI only recently.

The sources said a clarification would be sought from the officials in question of State Trading Corporation and they may be asked to furnish all their financial transactions related to the period.

They said the I-T department officials may be asked about details of the searches conducted at the premises of the steel firm.

The sources also said officials of the steel firm may be examined by the agency to seek explanation about the alleged payments.