Ex Dir Gen, VK Sibal charged by CBI for favouring RIL
VK Sibal's residence was raided by the CBI on Jul 1 (today). Raids have also been conducted at various places across Noida, Dehra Dun and New Delhi.
Sibal has been accused of favouring oil companies including a foreign entity and Reliance Industries Limited (RIL). A inquiry was ordered into the case in Nov 2009 and there are claims that Sibal will be arrested soon.
According to reports that Sibal favoured the RIL and allowed the company to raise its ' developmental costs'.
Sibal has been charged of quadruplicating the inflating from $2.47 to 8.84 billion in the capital spending of RIL project in Krishna Godavari Basin.
The
reports
also
said
that
the
increase
in
the
expenditure
directly
affected
the
government's
revenues.
Sibal
served
his
term
as
the
Director
General,
Hydrocarbons
between
the
years
2004-2009.
OneIndia News