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August 4, 2001
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Money > Business Headlines > Report August 4, 2001 |
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Residences of Subramanyam, Basu, Kapur searchedBS Economy Bureau The Central Bureau of Investigation has recovered share certificates and fixed deposit receipts worth Rs 2.6 million during the search operations carried out at former Unit Trust of India chairman PS Subramanyam's Bombay residence. In reply to a Parliament question, minister of state for finance Balasaheb Vikhe Patil on Friday said the investigating agency looking into the purchase of Cyberspace Infosys shares by UTI also recovered FDRs, Kisan Vikas Patras, National Savings Certificates, UTI and IDBI bonds worth nearly Rs 1.4 million during searches carried out at former executive director SK Basu's residence and office. CBI also searched a locker in State Bank of India belonging to Basu's wife, Nandini Basu. The minister also said some foreign currency was found in Basu's possession. This included $3,704, £1,025, Iranian Rial 20,000 and small amounts of currencies of other countries. During search operations at the office and residence of MM Kapoor, former executive director and the third accused UTI executive, CBI recovered fixed deposit receipts worth Rs 50,000, Patil told Lok Sabha. CBI has also seized certain documents during search operations conducted in nine office and residential premises and two bank lockers. Searches were also conducted in the office and residence of Prema Madhu Prasad, UTI general manager and the investigating agency recovered some foreign currency during the searches. The foreign currency included $3,598 and £480. CBI, however, did not find any details of immovable property during the searches carried out by it which also covered the residence and office of stock broker Rakesh Mehta and a locker belonging to his wife, Nidhi Mehta. While Prema Madhu Prasad has not been arrested so far, a CBI special court today extended the custody of Subramanyam, Basu and Kapoor by another week denying a bail plea moved by them. Powered by YOU MAY ALSO WANT TO READ:
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