Delhi High Court had rebuked the CVC for harassing MK Tyagi, who exposed the drain on the public exchequer. But the Court order has not been implemented as yet
The Whistleblower's Bill is under the consideration of Parliament, to protect and reward those who expose corruption. But over the years, the government has shown little concern towards those who have sounded the alarm. Satyendra Dubey and Amit Jethwa became big names only after their death. But one other successful whistleblower has yet to be restored his dues.
Former Indian Oil Corporation chief sales manager and IIT alumnus MK Tyagi made headlines last year, when he won a case in the Delhi High Court, in which the Central Vigilance Commission (CVC) was rebuked for harassing him and the Court directed that he be compensated.
The High Court asked the CVC to compensate Mr Tyagi with a payment of Rs22,000 for the delay in the letter to Indian Oil Corporation (IOC) to release his promotions and to pay him Rs30,000 by way of costs of his petition. But Mr Tyagi has not received his promotion letter, and Indian Oil's losses have not stopped.
"The Delhi High Court order of 5 August 2010 vindicated my exposure of loss of Rs99,000 per month till the year 2014 to the public exchequer, by Indian Oil. But the loss is still continuing, thereby nullifying my efforts. In spite of the observation of the High Court, Delhi police has not filed a factual report under section 173(8) of the Criminal Procedure Code, 1973, to prosecute the then chairman MS Ramachandran for swindling public money," Mr Tyagi told Moneylife.
Despite Mr Tyagi's victory, his fight hasn't grabbed eyeballs. The company has refused to implement the CVC order, while the IIT alumnus association has not offered him support either. While the association had voiced vehement protests against the murder of Satyendra Dubey, another IIT alumnus, it has not extended any cooperation to Mr Tyagi.
Indian Oil senior officials were interested in supplying paraffin wax to a private company and supplying free equipment worth Rs15 crore to another company in Karnataka, both of which Mr Tyagi refused to sanction. Three promotions were withheld and Mr Tyagi was transferred from Mumbai to Bangalore, after he complained about the corrupt practices of the general manager MS Ramachandran in December 1999. In May 2000, Tyagi wrote to the CVC about his transfer and sought appropriate action against the "corrupt officers".
The CVC issued a letter to his company, saying that his promotions should not be withheld, and it put a stop to the official inquiry that was being conducted, accusing Mr Tyagi of making false allegations against his senior. While the IOC closed the proceedings against Mr Tyagi, it warned him not to expose such corrupt practices again and he was not called to give his testimony.
When Mr Tyagi evoked the RTI Act to get information about how much IOC was spending on the case monthly, the then chief information commissioner refused to provide him with the documents. Also, his superiors got away with a trifling penalty in the CVC case.
When Mr Tyagi approached the Delhi High Court, the ruling went in his favour. Yet, for all his troubles, neither has the then information commissioner MM Ansari (he is now an interlocutor for Kashmir), nor have his company superiors been punished. Mr Tyagi has also written to the prime minister and the home minister, but nothing has happened.
Mr Tyagi says, "In line with the CVC's advice dated 31 March 2005 to the then chairman, Sarthak Behuria, Mr Behuria had taken a decision to release my withheld promotions as out of court settlement of WP-29013 of 1998 & WA-1470 of 2005. But the decision has not yet been implemented, to wear me out. On top of everything I was called corrupt by the then information commissioner MM Ansari and I had to file a criminal defamation suit."
Mr Tyagi is disappointed by the entire experience. "In India, the corrupt are awarded, while the honest are punished. A whistleblower is eliminated, so it is to be seen how long I will continue my fight against corruption," he said.
SBI Mutual Fund new issue closes on 8th June
SBI Mutual Fund has launched SBI Debt Fund Series 367 days-1, a close-ended income scheme.
The investment objective of the plan is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 8th June. The minimum investment amount is Rs5,000.
ICICI Pru MF new issue will close on 17th June
ICICI Prudential Mutual Fund has launched ICICI Prudential Capital Protection Oriented Fund-Series I-24 Months Plan, a close-ended capital protection oriented fund. The tenure of the scheme is 735 days. The new issue will close on 17th June.
The investment objective of the Plan is to protect capital by investing in quality debt securities and money market instruments and to provide capital appreciation by investing the balance in equity and equity related securities.
The scheme will allocate up to 88% to 100% of assets in debt securities & money market instruments with low to medium risk profile. On the flipside it would allocate up to 12% of assets in equity and equity related securities with medium to high risk profile.
The minimum investment amount is Rs5,000. Crisil MIP Blended Index is the benchmark index. Chaitanya Pande (debt portion) and Mrinal Singh (equity portion) will be the fund managers.