Bombay HC seeks reply from CBI in Adarsh missing files case

The court's remarks came after YP Singh, counsel for petitioner Simpreet Singh pointed out that the four persons arrested by CBI in connection with the Adarsh files gone missing from the urban development department, were granted bail after the agency failed to file its charge-sheet within the stipulated 60-day period

Mumbai: Coming down heavily on the Central Bureau of Investigation (CBI) for its slow pace of probe into the missing files case of the scam-hit Adarsh Housing Society, the Bombay High Court has sought a reply from the investigating agency tomorrow, reports PTI.

"This is a very serious matter. There should not be any soft handling. We are not happy with the speed of the investigation and CBI's conduct," a division bench of justices Ranjana Desai and RV More said.

The court's remarks came after YP Singh, counsel for petitioner Simpreet Singh pointed out that the four persons arrested by CBI in connection with the Adarsh files gone missing from the urban development department, were granted bail after the agency failed to file its charge-sheet within the stipulated 60-day period.

"Who are the officers in-charge for the case? Name them.

We will take appropriate action against them. This should not have happened. Why could you not file a charge-sheet in time?" Justice Desai questioned.

The court further remarked that CBI has arrested the 'small people' in the case but has to also look into the role of 'higher officials'.

Asking the CBI to speed up the probe, justice Desai remarked, "The petitioners are right in saying that they have no faith in you (CBI)... We want to ensure that the faith placed on CBI by the court is not misplaced."

Mr Singh further pointed out to the court that CBI is giving preferential treatment to some big personalities like Union ministers Sushil Kumar Shinde and Vilasrao Deshmukh.

"Treat everybody equally irrespective of their status.

Expedite the investigation. You (CBI) cannot be going in your own pace," justice Desai said.

Additional solicitor general Darius Khambata, appearing for the CBI, submitted a status report to the court in a sealed cover and said the agency is questioning and recording the statements of all persons connected to the scam.

He further said that the Income Tax department is looking into the alleged benami flats and transactions.

The court has directed the CBI to file another status report by 5th September on the entire probe into the case.

Simpreet had filed a Public Interest Litigation (PIL) seeking the high court to monitor the CBI investigation in the Adarsh scam.

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HDFC Bank launches travel credit cards

The range of cards will be available on both Visa and MasterCard platforms

HDFC Bank has launched a pack of three premium credit cards. With the Global Indian logging thousands of air miles, the three premium credit cards-Regalia, Superia and Platinum Edge-will offer them a complete solution to all their travel needs.   

The cards come loaded with unique privileges with the USP being its reward point redemption system which gives one the freedom to choose from a wide array of airlines to cash in on the air miles accumulated on the card.

The range of cards will be available on both Visa and MasterCard platforms. The Bank has a credit card base of 50.5 lakh as of 31 March 2011.

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IDFC Mutual Fund unveils one year fixed maturity plan

IDFC Mutual Fund new issue closes on 3rd August

IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-Yearly Series 45, a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is one year.

The new issue closes on 3rd August. The minimum investment amount is Rs10,000.

Crisil Short Term Bond Fund Index is the benchmark index. Anupam Joshi is the fund manager.

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