Amid allegations of laundering money through a shell company based in Kolkata, interim Central Bureau of Investigation (CBI) director M Nageswara Rao on Tuesday rubbished the charge and clarified that the money was borrowed by his wife from her "longtime family friend."
Rao, in an official statement, said "On September 10, 2010, my wife Mannem Sandheya had borrowed Rs. 25 lakhs from M/S Angela Mercantile Pvt. Ltd. Kolkata, a company belonging to our longtime family friend Praween Agarwal, for the purchase of an immovable property in Guntur, Andhra Pradesh. The said property was purchased jointly along with her cousin brother, Dr K. Ratna Babu, a well-known Orthopedic Surgeon in Guntur."
"On September 17, 2011, my wife sold 5-12 acres of her inherited agricultural property for an amount of Rs. 30.72 lakhs. Again on October 19, 2011, she sold a portion of her inherited agricultural property for an amount of Rs. 27.90 lakhs. Thus she received a total amount of Rs. 58.62 lakhs as sales proceeds of 11-17 acres of her inherited agricultural property in 2011. This, along with Rs. 1.38 lakhs from personal savings, thus summing up to Rs 60 lakhs, was sent to M/S Angela Mercantiles Pvt. Ltd. Kolkata in the year 2011, who, after deducting the loan amount, retained the balance Rs. 35 lakhs as investment," Rao clarified.
The IPS officer further said that the said shell company returned an amount of Rs. 41.33 lakhs, which included an accrued interest amount of Rs. 6.33 lakhs.
Denying reports of any unaccounted money, he said, "Further, complete details of all properties of my family and mine have been submitted in my Annual Property Returns to the government for all years, which are available for download on the Ministry of Home Affairs website."
"Lastly I deny all other reports as they are incorrect and untrue," Rao concluded.
The Centre had, earlier in the month, appointed Rao as the interim director of the CBI after sending its Director Alok Verma and Special Director Rakesh Asthana on a leave with immediate effect.
Asthana has been accused of accepting a bribe from a businessman allegedly involved in the Moin Qureshi case, which was being probed by Asthana.
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