CBI searches residences of former finance secretary Arvind Mayaram in corruption case

New Delhi, Jan 12: The Central Bureau of Investigation (CBI) on Thursday conducted searches at the residences of former finance secretary Arvind Mayaram in connection with an alleged corruption case. The investigation states that he was involved in irregularities in the tender awarded for currency printing.

The searches took place in Delhi and Jaipur, they said.

According to the CBI, Mayaram, in 2013, gave an illegal extension to British-firm DelaRue for supplying exclusive colour shift (security thread) for Indian bank notes for a period of five years.

It alleged that the undue favour provided to the British firm resulted in it making wrongful gains at a loss to the Indian exchequer.

A CBI report filed on January 10 alleged criminal conspiracy amongst the British firm, Mayaram, unknown officials of the finance ministry and the Reserve Bank of India.

A CBI enquiry allegedly found that Mayaram extended the expired contract to the British firm by overruling the security clearance from Ministry of Home Affairs and Finance Minister.

The government had entered into an agreement with DeLaRue International in 2004. The contract was subsequently extended four times till December 2015.

Arvind Mayaram is an IAS officer of 1978 batch belonging to Rajasthan cadre. He was Finance Secretary, Ministry of Finance of Government of India.

On 21 December 2018 he was appointed as principal economic advisor to Government of Rajasthan.

Mayaram is one of the accused in the Gurugram Rajiv Gandhi Trust land grab case.