Panel seeks CBI probe into appointment of Atul Kumar Rai as IFCI CEO

NEW DELHI: A parliamentary committee has recommended the Central Bureau of Investigation, or CBI, probe the appointment of Atul Kumar Rai as the CEO and Managing Director of Industrial Finance Corporation of India or IFCI in 2007.

In its report, the K Rahman Khan-headed Rajya Sabha’s privileges committee said Rai had suppressed factual information pertaining to his appointment as CEO/MD of IFCI. The panel was looking into the complaint of beach of privilege filed by Rajya Sabha member Rajiv Pratap Rudy against Rai.

“Due to certain disclosures which emerged during the examination of Shri Rai and the officers of the Department of Financial Services, the Committee felt that, apart from the issue of breach of privilege, there were certain other issues of a more serious nature underlying the whole matter,” the committee said in its report.

The committee noted that an investigation should be done into whether undue favour was shown in appointing Rai and the CBI probe should find out the facts and fix responsibility at the higher level in the then hierarchy of officers in the finance ministry. Vinod Rai, who is now the Comptroller and Auditor General of India, was the finance secretary when the appointment was made in 2007.