CBI registers FIR against former Union Textile Minister Shankarsinh Vaghela in NTC land scam

NEW DELHI: The Central Bureau of Investigation (CBI) registered an FIR against Shankarsinh Vaghela and others including the then Managing Director of National Textile Corporation (NTC) for sale of prime property in Mumbai allegedly at "throwaway prices". Vaghela is the Leader of Opposition in Gujarat Assembly.

CBI said FIR has been registered against Vaghela, former NTC CMD Ramachandran Pillai, RK Sharma then director and M K Khare, then senior manager for allegedly causing loss of Rs 709 crore to the exchequer through the sale of NTC land in Parel. The agency in its FIR alleged that Vaghela overruled the decision of NTC officials and gave favours to a private firm.

Soon after registering the FIR, CBI carried out searches at nine locations in four cities — New Delhi, Gandhinagar, Mumbai and Kolkata — including the residence of Vaghela and others. During raids, the agency seized a fixed deposit receipt of Rs 1.65 crores and details of bank locker from the premises of Pillai while Rs 13.33 lakh cash were seized from Vaghela residence. Beside this, the agency also claimed to have found 2 bank locker and FD of Rs 35 lakhs during the raids at the house of Sharma and Khare respectively.