CWG scam: CBI files charge sheet against Suresh Kalmadi

The CBI, in its over 50-page charge-sheet, has accused sacked Commonwealth Games (CWG) Organising Committee chairman Suresh Kalmadi as the key person with all the powers to take decisions regarding award of contracts

New Delhi: The Central Bureau of Investigation (CBI) today filed its first charge-sheet in a Delhi court against sacked Commonwealth Games (CWG) Organising Committee chairman Suresh Kalmadi, describing him as a "main accused" in a corruption case relating to irregularities in awarding a games-related contract to a Swiss firm, reports PTI.

The probe agency, in its over 50-page charge-sheet, has accused Mr Kalmadi as the key person with all the powers to take decisions regarding award of contracts.

"Mr Kalmadi is the main accused as he was the person with all supreme powers. He had the supreme overriding powers in the Organising Committee (OC) of the CWG, 2010," the charge-sheet said.

Special CBI judge Talwant Singh took the charge sheet into record and fixed it for taking up the issue of cognisance on it on 23rd May.

Besides Mr Kalmadi, the agency has named two companies and eight persons including former OC secretary general Lalit Bhanot and former director general VK Verma as accused and sought their prosecution under various provisions of the IPC, dealing with criminal conspiracy, forging documents and using fake documents as genuine.

According to the charge-sheet, the accused allegedly awarded the lucrative contract to the Swiss firm to install a Timing-Scoring-Result (TSR) system for the Commonwealth Games at an exorbitant cost, causing a loss of over Rs90 crore to the exchequer.



Yash Verma

5 years ago

Well done CBI, though very late. It shd have been done 3 months back at least. The man is shameless bcause even after the charge-sheet in one case, still maintains his innocence. There are other charges coming, dear Suresh bhai. Wait. This is the beginning of your end.

‘Rana’ director rubbishes shoot cancellation talks

Announcement by director KS Ravikumar follows rumours about Rajinikanth’s health and his film’s fate. But can anybody stop the superstar of superstars?

As we know, death recently had a 'near-Rajinikanth' experience. To the relief of countless fans, Indian film industry and the world at large (which is actually rotating on Rajini's fingertip), the beloved megastar is recovering. And like Rajini, his pet-project 'Rana', is also unstoppable.

'Rana' director KS Ravikumar has assured the nation that with Rajinikanth recovering fast, the film will be completed and released in 2012. "Any and every newscast that you might have witnessed in any media confirming the project dropped is, we are sorry to state, completely false. The shoot is just postponed temporarily awaiting his complete and total recovery", Mr Ravikumar said in a press release.

The day the film went on floor, the star was hospitalised on complaints of vomiting and exhaustion. He was discharged, but was again taken later to Ramachandra Medical Centre on 4th May for allergic bronchitis and fever.

As soon as news of Rajinikanth's illness surfaced, certain sections of media reported that the project had been shelved, while others said it's cancelled for the moment. Mr Ravikumar has rubbished all reports. He said that lead actress Deepika Padukone has her dates scheduled only after July, and the shooting has been temporarily put on hold due to Rajinikanth's illness.

 "Rana is Superstar Rajini Sir's dream project and his brainchild and hence he is very much keen on undertaking it and completing it successfully," Mr Ravikumar said. 'Rana', earlier titled 'Sulthan' is a joint production by Eros International and Ocher Studios, which is owned by the superstar's daughter Saundarya. In live-action animation format, Rajinikanth will essay a triple role in this movie.

Rumourmongers should have known better than to even dream of having the Rs150-crore 'Rana' shelved. Strictly on the basis of money, Rajinikanth is the highest earning Asian superstar after Jackie Chan. Bollywood has long given up dreams of producing 'the film with the biggest budget' since Rajini and director Shankar came up with 'Sivaji the Boss' in 2007 and then broke all records with 'Enthiran' or 'Robot' (in Hindi) which is estimated to be above Rs140 crore.

'Enthiran' set forth a plethora of commercial records, grossing Rs62 crore within three days of its opening. While the world gaped, all major distributors raced for getting the rights to the film. The producers, Sun Pictures, who own Sun TV, later claimed that 'Enthiran' alone had contributed to 30% of their yearly revenue.

Rajinikanth is rumoured to claim a share of the film profits of all films he has starred in. In 2009, he had a guest appearance in a Telugu movie, which flopped. Rajinikanth is said to have not charged a single rupee for that. We are talking about the Most Influential Indian in the Forbes list, 2010.

It will take all eternity to chart out the socio-psychological impact of the phenomenon called Rajinikanth. This is the person no Dravidian party dares defy, even though he is not associated with any.

It is unanimously known that Rajinikanth is indestructible. Heck, even an army of Rajinikanths can't stop Rajinikanthas 'Enthiran' has shown! The rumourmongers might as well run for their lives because Rajinikanth is recovering. They must remember just one of the fictional (but entirely-possible) jokes about Rajinioceans are salty because they are filled with tears that Rajini's enemies have cried.


ICICI Prudential MF top earner for EPFO with 8.72% returns

The investments made by ICICI Pru yielded returns of 8.72% followed by HSBC AMC (8.64%) and SBI (8.61%)

ICICI Prudential Mutual Fund provided the best yield on investments made on behalf of the retirement fund body EPFO (Employees’ Provident Fund Organisation) during the two-and-half year period ended 31 March 2011, while Reliance Capital gave lowest rate of returns.

The investments made by ICICI Pru yielded returns of 8.72% followed by HSBC AMC (8.64%) and SBI (8.61%).

The lowest return of 8.57% was provided by Reliance Capital, though it was slightly higher than the EPFO’s benchmark yield of 8.52%.

The analysis was conducted by Crisil, which was engaged by the EPFO for the purpose.

The body had engaged the four assets management firms from 17th September in 2008 to 31 March 2011, with a view to improve the yield on its investments so that it could provide better returns on PF deposits to its over 4.72 crore subscribers.

Before the appointment of these four asset management companies (AMCs), SBI was the sole fund manager for the EPFO since the retirement fund body's inception in 1952.

These four fund managers are among the 11 AMCs which are in race to bag the contract for managing EPFO funds for another term of three years beginning 1st July.

After the end of the term of existing four fund managers on 31 March 2011, EPFO had decided to engage SBI to manage its funds for three month as interim arrangement till 30th June.

The decision was taken by the EPFO’s apex decision making body Central Board of Trustee in March because the retirement fund body could not appoint the new fund managers well in time so that they could take over by April 1 this year.

Besides, existing fund managers, seven new firms, including Kotak Securities, Securities Trading Corporation of India, UTI Securities and ICICI Securities, had shown interest in managing EPFO funds.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)