Investigative agencies have a daunting task ahead of them: how to handle the growing number of fraud and bribery cases in India.
The Central Bureau of Investigation (CBI) has been on its toes due to the raft of graft cases that have surfaced in the past five months.
Be it the mega Punjab National Bank scam or the controversy involving ICICI Bank's Chanda Kochhar to the most recent one that names AirAsia boss and other key executives, top India Inc leaders have been on the radar of the law enforcement agency.
Let's take a look at some of the top leaders who are either accused or are being investigated by the CBI.
Chanda Kochhar & Venugopal Dhoot
The biggest name of course in the list is of Chanda Kochhar, the top banker of ICICI Bank, who is in controversy for an alleged conflict of interest while disbursing loans to Videocon Industries.
The allegations are that Chanda Kochhar's husband Deepak Kochhar got a sweet deal in his company NuPower for around Rs 600 crore from Videocon Chairman Venugopal Dhoot .
The CBI has registered a preliminary enquiry in this case. Look out notices have been issued against Venugopal Dhoot. Despite rigorous questioning of Rajiv Kochhar (brother of Deepak Kochhar) and NuPower CFO back in April, the CBI hasn't made much progress in the case.
Kishor Kharat, Melwyn Rego, S Ravi
The Aircel-IDBI case includes three sitting managing directors and chairman on the accused list of the CBI. The case is about a loan of Rs 600 crore to the group company owned by Aircel Chairman C Sivasankaran. The CBI alleges that the loan amount was given to the companies of C Sivasankaran in a fraudulent manner and to the top officials of IDBI Bank in connivance with C Sivasankaran.
Kishor Kharat, who was the then MD of IDBI Bank and is now serving as the Indian Bank chief is named in the FIR. Also, Melwyn Rego, who was with IDBI Bank then & now serves as Syndicate Bank MD is an accused in this case.
Watch full video here: Corporate India has seen a slew of investigations by CBI in 2018
The charges on both of them are of criminal breach of trust and corruption. The CBI is also investigating the role of independent directors. The agency has accused S Ravi, currently the chairman of BSE, for remaining silent about the fraudulent dealings between C Sivasankaran and IDBI Bank officials. S Ravi is also named in the FIR on charges of criminal breach of trust.
Tony Fernandes & R Venkat
The CBI has logged an FIR against AirAsia Chief Tony Fernandes for allegedly trying to manipulate government policies through corrupt means.
According to the CBI, Fernandes and Tata Trust Chairman R Venkatramanan tried to amend 5/20 rules. The FIR also talks about the attempts made by Air Asia executives to bribe government officials and the company hired lobbyists to influence government officials through non transparent means to change 5/20 policy.
The CBI raided the house R Venkat earlier this week, and has summoned Fernandes to be present for questioning, which he has avoided till now. Both Fernandes and Venkat have been named in the FIR undercharges of corruption and bribery.