Cvc

CVC flags 34 non-compliance major cases in action against corruption

The Central Vigilance Commission (CVC) has flagged 34 major cases of non-compliance by government departments, which diluted its advice of acting against "corrupt" officials. In some cases, these "corrupt" officials were either exonerated or punishment against them were diluted by the departments concerned, according to the CVC's annual report 2023. Of the total, a highest of seven cases involved are under the coal ministry, five in the State Bank of India (SBI), four in the IDBI Bank, three under the steel ministry and two each under the power ministry and NBCC (India) Limited, it said. One such instance each was in the Delhi Jal Board (DJB), the Government of National Capital Territory of Delhi (GNCTD), the Ministry of Railways, Airports Authority of India (AAI), Central Board of Indirect Taxes and Customs (CBIC) and Council of Scientific & Industrial Research (CSIR) among others, according to the report. One each case of deviation from the CVC's advice was also from the ...

Over 6K corruption cases probed by CBI pending trials in courts: CVC

Over 6,900 corruption cases probed by the CBI were pending trials in different courts, 361 for more than 20 years, according to the latest annual report of the Central Vigilance Commission (CVC). Besides, as many as 658 corruption cases were pending CBI investigation, 48 for more than five years. Of the total of 6,903 cases under trial before courts, 1,379 were pending for less than three years, 875 for more than three years and up to five years and 2,188 for more than five years and up to ten years, as on December 31, 2023, the anti-corruption watchdog said. As many as 2,100 cases were pending trial for more than ten years and up to twenty years, and 361 for more than 20 years, said the CVC's annual report 2023. "It was noted that 6,903 number of cases were pending trials as on December 31, 2023. It is a matter of concern that 2,461 cases were pending for more than 10 years at the end of 2023," it said. The CVC report said that 12,773 appeals/revision, filed by the CBI and by the

PE firm CVC Capital raises $6.8 bn, plans to invest in Indian companies

Private equity and investment advisory firm CVC Capital Partners on Wednesday said it has mopped up USD 6.8 billion (around Rs 56,366 crore). The Luxembourg-based company has over USD 1 billion investments in four domestic companies -- the Indian Premier League franchise Gujarat Titans, Healthcare Global, Sajjan India and United Lex, according to a statement. It plans to invest some of the new money being raised into more domestic companies. In the statement, CVC, which is focused on private markets, private equity, secondaries, credit and infrastructure, said the fund closure is 50 per cent larger than its predecessor fund, that raised USD 4.5 billion in 2020. The funds raised in the latest round saw a strong demand from new and returning blue chip investors enabling it to exceed the USD 6 billion target and original hard cap of USD 6.5 billion. This makes CVC one of the leading PE players in the region, having raised over USD 21 billion across its Asia-focused funds. The new fu

Indian pharma firm recalls 27 types of eyedrops in US made for CVS, Walmart

The Food and Drug Administration warned consumers last month not to purchase or use store-brand eyedrops from Walmart Inc., CVS Health Corp., Target Corp. and other companies

Vijay Kirloskar threatens to move CVC in TD Power IPO disclosure matter

Says latest disclosure made by company dishonest, issue cannot be termed sub-judice

CVC mulls controlling stake sale in Indian hospital chain HealthCare Global

The private equity firm is looking to identify buyers for its 60.4% in the Mumbai-listed company, said the people, who asked not to be identified as the information is private

Torrent pharma in advance talks with CVC Capital to buyout Cipla promoters

Torrent had reached out to several private equity (PE) funds, including Bain Capital to secure the necessary funds to buyout the promoter family of Cipla

Ex-CVC Patel to head board to examine role of top bank officials in frauds

Former Central Vigilance Commissioner (CVC) Suresh N Patel has been appointed the chairman of an advisory board to examine the role of top bank officials in fraud cases. The members of the board are Ravikant, a former secretary of the Department of Ex-Servicemen Welfare; Rajni Kant Mishra, a former director general of the Border Security Force; David Rasquinha, ex-MD of the EXIM Bank; and Partha Pratim Sengupta, ex-MD and CEO of the Indian Overseas Bank, according to an official order. The tenure of the chairman and members would be for a period of two years with effect from August 21, 2023, said the order issued by the Central Vigilance Commission. The Advisory Board for Banking and Financial Frauds (ABBFF) will examine the role of all levels of officials and whole-time directors (including ex-officials and ex-whole-time directors) in public sector banks, public sector insurance companies and public sector financial institutions in case of frauds amounting to Rs 3 crore and above

Most corruption complaints against railways, bank officials in 2022: CVC

The highest number of corruption complaints last year were against employees of the Union home ministry, followed by those working for the railways and in banks, according to the Central Vigilance Commission's latest annual report. In total, 1,15,203 such complaints were received for all categories of officers and employees across central government departments and organisations in 2022, it stated. Of these, according to the report, 85,437 were disposed of and 29,766 were pending -- 22,034 for more than three months. The Central Vigilance Commission (CVC) has prescribed a time-limit of three months for chief vigilance officers, who act as a distant arm of the probity watchdog, to examine complaints, an official said. While the home ministry received 46,643 complaints against its employees last year, 10,580 were received by the railways and 8,129 by banks, according to the report. Out of the total complaints against home ministry employees, 23,919 were disposed of and 22,724 were ..

CVC Capital raises $29 billion for world's biggest-ever buyout fund

CVC only began raising its ninth buyout fund in January and initially targeted €25 bn

Madras High Court serves notice to Sebi official, CVC on Colo case

CFMA had filed a complaint with CVC seeking an inquiry against Mohanty for his misdeeds during his tenure as a public servant with Sebi

CVC asks banks, govt depts to send factual report on corruption complaints

The Central Vigilance Commission (CVC) has asked public sector banks, insurance companies and government departments to provide factual reports on corruption complaints sent to them by the probity watchdog within a month. The move is aimed at ensuring timely action on graft complaints and checking inordinate delays, officials said on Monday. "Chief Vigilance Officers (CVOs) are required to submit the factual report to the commission, on the basis of scrutiny of relevant records/documents only, within a period of 30 days of the receipt of the complaint/communication from the commission," the CVC said in the latest order. The CVOs act as a distant arm of the commission to check corruption. "While forwarding the factual report, the CVOs should also give their recommendations/views in clear terms," it said in the order issued to all CVOs of central government departments, public sector banks, insurance companies and central public sector undertakings, among others. The CVC has modifie

CVC acknowledges receipt of Suvendu's complaint against Bengal's CS

Leader of Opposition in West Bengal Assembly Suvendu Adhikari has informed that the Central Vigilance Commission has acknowledged the receipt and documentation of his complaint

Identify sensitive posts, rotate officers in prescribed time limit: CVC

The Central Vigilance Commission has asked public sector banks, undertakings and central government departments to regularly identify sensitive posts and ensure the rotation of officers manning them within the prescribed time limit. The move came after the CVC noticed that many of the organisations are not following its guidelines about the identification of sensitive posts in letter and spirit. In an order, the commission said the Chief Vigilance Officers (CVOs) -- who act as distant arm of the panel to check corruption -- in consultation with the chief executive/management of the respective organisations, should immediately undertake an exercise to identify sensitive posts in their organisations. "In future, an exercise to review and identify sensitive posts may be conducted after an interval of every three years," said the order dated October 25. Further, it may also be ensured that the officials holding sensitive posts are transferred/posted out from such posts as per the time

SC seeks Centre's response on plea raising issue of vacancies in CVC

The Supreme Court on Monday sought a response from the Centre on a plea that raised the issue of vacancies in the Central Vigilance Commission (CVC). A bench of Justices S K Kaul and A S Oka issued notice to the Centre seeking a response within three weeks on the plea filed by NGO 'Common Cause'. Advocate Prashant Bhushan, appearing for the NGO, said CVC has been held to be the most important integrity institution in the country. "What is the position? How many people are manning this?" the bench asked. Bhushan said two posts are laying vacant -- one for 25 months and the other for 15 months. The plea has said that the authority has failed to fill in the vacancies in the CVC in time.

L-G seeks detail on delay in action over CVC report on govt schools: Report

Delhi Lieutenant Governor VK Saxena has sought a report from the chief secretary over a delay of more than 2.5 years in acting on a CVC report on an inquiry into construction of additional classrooms in government schools, sources said. The report, which found gross irregularities and procedural lapses in execution of the projects, was sent by the CVC to the vigilance secretary in February 2020, seeking comments for further investigation and action. No immediate reaction was available from the Delhi government on the issue. "The L-G has taken a serious view of this inordinate delay that appears to be an obvious attempt at covering up gross malpractice pointing towards corruption, apart from violating relevant clauses of the CVC manual. The LG Secretariat had received a complaint enclosing a copy of the CVC communication to the Directorate of Vigilance," sources at the L-G office said. The CVC had received a complaint in 2019 regarding irregularities and cost overrun in construction

SC seeks govt response on pleas against extended term for ED director

A Bench of Chief Justice of India N V Ramana and Justices Krishna Murari and Hima Kohli has posted the matter for next week.

CVC-constituted panel ABBFF gives advice on 84 bank fraud cases in 3 yrs

The CVC constituted panel has given its advice after thorough examination of role of all levels of officials on 84 bank fraud cases involving amount of over Rs 3 crore in the last three years

CVC calls for safe custody of documents to prevent inquiry delay

The order was issued to secretaries of all central government departments, chief executives of public sector banks, and insurance companies

The curious case of Pratip Chaudhuri's arrest

The account turned bad before he took over as SBI chairman. The underlying asset was sold to AARC following an open bidding process, months after he retired.