CBI books NHSRCL Chief for allegedly diverting govt funds

The Central Bureau of Investigation (CBI) has booked Satish Agnihotri, the former CMD of Rail Vikas Nigam Ltd (RVNL) for illegally transferring Rs 1,100 crore of government money to a private company. The CBI has registered the case on the orders of Lokpal.

The CBI has also booked the alleged beneficiary private company Krishnapatnam Rail Co Ltd (KRCL) in the case registered under IPC Section 120-B, related to alleged criminal conspiracy and provisions of the Prevention of Corruption Act.

As per allegations, Satish Agnihotri had misused his official position and diverted Rs 1,100 crore, amounting to Rs 1,600 crore with interest, in an unauthorised manner to KRCL, out of the funds received from the Ministry of Railways, resulting in a huge loss to the exchequer.

After retiring from RVNL, he was appointed as the Managing Director of the National High Speed Railway Corporation Ltd (NHSRCL), which is managing the government’s prestigious bullet train project.

It is alleged that after his retirement from RVNL, Satish Agnihotri was given a plum job in Navyuga Engg Co Ltd (NECL), along with perks, including luxury cars and a farm house in Mehrauli, among other benefits. The Lokpal alleged that Agnihotri used his contacts in the PSU to get many big contracts for NECL in violation of the CVC guidelines.

The complaint had also alleged that Agnihotri was “handpicked” as MD, RVNL, by the then Railway Minister Mamata Banerjee by “jumping” several senior officers, just before the West Bengal elections in 2011.

However, in his detailed submissions to the Lokpal, Agnihotri had denied the allegations against him and said the complainant made these allegations against him after his appointment as MD of NHSRCL. The former officer alleged that the complainant is threatening him and his family members through WhatsApp chats, etc.