CBI case against Asst Director of ED on corruption charges

CBI case against Asst Director of ED on corruption charges
PRESS TRUST OF INDIA

NEW DELHI, SEPT 15: CBI has registered a corruption case against an Assistant Director of Enforcement Directorate (ED) for allegedly amassing wealth disproportionate to his known sources of income.

According to an FIR registered by the CBI on August 31, ED Assistant Director D.L. Vaid, during his stint with the ED from 1980 to 1995, amassed movable and immovable assets to the tune of over Rs 32 lakh, which was found to be disproportionate to his known sources of income.

The agency has sought to prosecute the accused under Section 13(2)(R) read with Section 13(1)(E) of the Prevention of Corruption Act, 1988.

The agency has alleged that Vaid abused his official position as a public servant and acquired land for Hotel Himgiri at Dalhousie in Himachal Pradesh and got a hotel built there at an estimated cost (land included) of over Rs 15 lakh.

He had also purchased 87,950 shares of Rs 10 each in the name of his wife in M/S Kaku motors Finance (KMF) at a total cost of over Rs 8 lakh, the CBI alleged.

The probe agency has also accused Vaid of purchasing 34,900 and 34,700 KMF shares respectively in the name of his son and daughter, then valued Rs. 3,49,000 and Rs 3,47,000.

Vaid had joined ED as Assistant Enforcement Officer in 1971 and thereafter promoted to the post of Assistant Director. He is still functioning as such at Delhi zone of the directorate, the agency said.

Vaid's total income from his salary during the check period was Rs 6 lakh, out of which the agency deducted Rs 2 lakh as non-verifiable expenditure and calculated his likely saving from salary at Rs 4 lakh.

Vaid's son and wife shown an income of Rs 4,63,113 from M/s Lucky Textile, bank interest and dividend etc, the agency said adding his wife had also an income of Rs 15,23,000 as loan from Himachal Pradesh Finance Corporation, Shimla for construction of Hotel Himgiri during the period.

Thus, the total income of Vaid and his family members comes to Rs 23,92,113. After deducting this amount from the estimated value of his total assets, he has been found to be in possession of disproportionate assets to the tune of Rs 8,70,230, much beyond his known legal sources of income, the CBI ha alleged.