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Saturday, June 10, 2023

CBI lodges DA case against former Director of GAIL (India) Ltd

The Central Bureau of Investigation (CBI) on Thursday filed an FIR against the former Director (Marketing) of GAIL (India) Ltd, which comes under the Ministry of Petroleum and Natural Gas, for acquiring assets disproportionate to his income in the name of himself and his family members.

According to sources, searches were conducted at the residence and office premises of E.S. Ranganathan, former Director (Marketing), GAIL (India) Ltd.

The scrutiny of the documents collected and seized during the investigation of the said case has revealed that Ranganathan joined GAIL on October 14, 1985. He served in Indraprastha Gas Limited (IGL) from 2016 to 2020 as Managing Director on secondment basis. Later, he joined GAIL (India) Ltd as Executive Director and was working in the capacity of Director (Marketing).

Ranganathan during his posting in IGL and GAIL acquired assets (both movable and immovable) by corrupt and illegal means in his name and in the name of his wife V.N. Meenakshi.

“During the check period of January 1, 2017 to January 17, 2022, Ranganathan was in possession of five immovable properties. Ranganathan was also in possession of huge cash of Rs 1,29,10,500, gold jewellery, foreign currencies and huge balance in several bank accounts opened in his name as well as in the name of his wife, which he cannot satisfactorily account for,” a CBI official said.

The official said that during the check period from 2017 to 2022, the income of Ranganathan through his salary and other sources of income was to the tune of Rs 5,44,30,515 and his expenditure was Rs 4,02,83,712.

“The assets worth Rs 4,82,70,308 are calculated as disproportionate to the known sources of income of Ranganathan. He has acquired assets in the name of his wife and himself which were more than his known source of income around (88.68 per cent). We have lodged a case under the relevant sections of IPC and PC Act against him,” said the official.

In the coming days, Ranganathan can be summoned to join the investigation.

(The story has been published via a syndicated feed.)

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