CENTRAL BUREAU OF INVESTIGATION
NEW DELHI,27th MARCH, 2004
FORMER CBEC CHAIRMAN AND HIS SON CHARGESHEETED IN A CBI CASE:
CBI filed a chargesheet against the former Chairman of the Central Board of Excise and Customs (CBEC), his son Sidharth Verma and Shri Mohan Gupta, a close associate of Shri B.P.Verma in the Court of Special Judge, Patiala House, New Delhi for indulging in corrupt practices and amassing assets disproportionate to their known sources of income.
CBI had registered a case on 4-4-2001 against the three under different sections of Prevention of Corruption Act. CBI had searched the residential and official premises of Shri B.P.Verma, Sidharth Verma and Mohan Gupta and had found that Shri Verma had made investments in several companies to the tune of Rs. 26.5 lakh, another Rs. 25 lakh in FDRs, UTIs, NSCs and LIC policies. Besides, a cash amount of Rs. 2.85 lakh, jewellery worth 24 lakh and foreign currency of 1500 US $ were also recovered during search. Around Rs. 16 lakhs worth of household items were found during the searches. It was also found that Shri Verma was in possession of a flat in Kolkata, another flat at New Delhi and he had also made investments for membership for another flat at NOIDA. It was substantiated during investigation that his son Sidharth Verma made investment in several companies and also purchased plots and agricultural lands during the period when he was only a student and didn't have any independent source of income. Therefore, Shri B.P.Verma and Sidharth Verma have been charged for amassing assets disproportionate to their known sources of income under the Prevention of Corruption Act. The delay in chargesheet was due to the fact that both the senior and junior Vermas had made investments in several companies which had to be thoroughly investigated.