Corporate Espionage: CBI Arrests Chartered Accountant, 2 Govt Officials

13/03/2015 9:29 AM IST | Updated 15/07/2016 8:25 AM IST
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NEW DELHI — The CBI on Thursday night arrested a Mumbai-based chartered accountant and two government officials for allegedly selling confidential documents related to foreign investment policy to corporate groups after it carried out searches in offices of Finance and Commerce Ministries here and in Mumbai.

CBI's action came after registering a case of criminal conspiracy, theft under IPC and misuse of official position under the provisions of the Prevention of Corruption Act against Chartered Accountant Khemchand Gandhi, Under Secretary in Department of Disinvestment and Grievances Ashok Kumar Singh and Section Officer in the Department of Economic Affairs Lala Ram Sharma.

After detailed interrogation, the trio were taken into custody late night.

CBI sources said a major coordinated search operation was carried out at eight locations -- including six here and two in Mumbai -- today at several offices of Finance Ministry and Commerce Ministry, residences of Singh, Sharma and Gandhi.

The residence of a Upper Division Clerk (UDC) was also searched but he has not been arrested by the agency.

The sources said a trove of confidential documents and Rs 60 lakh cash was allegedly recovered from the residence of Gandhi besides large number of electronic documents have been found on the laptop, tablets and hard disks recovered from the residence of officials and CA.

It is alleged that the government servants were selling documents related to Foreign Investment Policies, which were being floated in the ministries, to Gandhi who in turn passed them on to big corporates for a price.

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