New Delhi:
Digging out another UPA-era scam, the CBI on Wednesday registered a case against former Union minister for textiles Shankersinh Vaghela, former CMD of National Textiles Corporation K Ramachandran Pillai and private company Hall & Anderson and its director Kamlesh Mehta in the sale of prime land owned by Shree Madhusudan Mills in Mumbai at a “throwaway price“.
The agency raided the former Gujarat CM's residence in Gandhinagar and recovered Rs 13.33 lakh cash and now plans to interrogate him.
The sale of governmentowned land to the private company at a price of Rs 29.35 crores led to a loss of Rs 709.27 crore to the public exchequer, as the market value of the prime preindependence era property in Mumbai's Worli was much higher.
The scandal was first exclusively reported by TOI in May last year when the Central Bureau of Investigation began a preliminary enquiry into the sale of Madhusudan Mills. Sources said more such sales of mills owned by state-run NTC are under CBI lens.
“Ms Madhusudan Mills was taken over by the ministry of textiles NTC and nationalized un der the Textiles Undertakings (Taking Over of Management) Act 1983 and the Textiles Undertaking (Nationalisation) Act, 1995.All the assets of the said firm (Madhusudan) were transferred to the central governmentNTC and suitable amount was paid to Ms Madhusudan,“ the agency says about the government taking over the Madhusudan Mills, which was listed among sick companies and was not operational.
CBI officials said Kamlesh Mehta of Hall & Anderson was allowed to develop 27,500 sqm of the 80,785 sqm area of Madhusudan Mill as part of revival of mills of NTC. The land was handed over at a price of Rs 29.35 crore to the Kolkata-based firm and its owner for redeveloping it in a move to reach a settlement in July 2009.
Digging out another UPA-era scam, the CBI on Wednesday registered a case against former Union minister for textiles Shankersinh Vaghela, former CMD of National Textiles Corporation K Ramachandran Pillai and private company Hall & Anderson and its director Kamlesh Mehta in the sale of prime land owned by Shree Madhusudan Mills in Mumbai at a “throwaway price“.
The agency raided the former Gujarat CM's residence in Gandhinagar and recovered Rs 13.33 lakh cash and now plans to interrogate him.
The sale of governmentowned land to the private company at a price of Rs 29.35 crores led to a loss of Rs 709.27 crore to the public exchequer, as the market value of the prime preindependence era property in Mumbai's Worli was much higher.
The scandal was first exclusively reported by TOI in May last year when the Central Bureau of Investigation began a preliminary enquiry into the sale of Madhusudan Mills. Sources said more such sales of mills owned by state-run NTC are under CBI lens.
“Ms Madhusudan Mills was taken over by the ministry of textiles NTC and nationalized un der the Textiles Undertakings (Taking Over of Management) Act 1983 and the Textiles Undertaking (Nationalisation) Act, 1995.All the assets of the said firm (Madhusudan) were transferred to the central governmentNTC and suitable amount was paid to Ms Madhusudan,“ the agency says about the government taking over the Madhusudan Mills, which was listed among sick companies and was not operational.
CBI officials said Kamlesh Mehta of Hall & Anderson was allowed to develop 27,500 sqm of the 80,785 sqm area of Madhusudan Mill as part of revival of mills of NTC. The land was handed over at a price of Rs 29.35 crore to the Kolkata-based firm and its owner for redeveloping it in a move to reach a settlement in July 2009.
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