RBI Officials Involved In Scams Like Kingfisher, Yes Bank", Alleges Subramanian Swamy; Supreme Court Issues Notice On Plea For CBI Probe

A Division Bench of the Supreme Court of India on Monday issued notice on a writ petition filed by Dr Subramanian Swamy seeking an enquiry by the Central Bureau of Investigation into the role of Reserve Bank of India officials in various banking scams. Swamy is a former Member of Parliament and a senior leader of the Bharatiya Janata Party. 

In the petition, in which Advocate Sathya Sabharwal is a co-petitioner, Dr.Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed. Appearing in person, Swamy told the Bench composed of Justices B.R. Gavai and B.V. Nagarathna that the RBI officials had allegedly escaped scrutiny with respect to their involvement –  

Despite playing a key role in the bank's allocation of funds to various projects, the Reserve Bank nominees have not been touched by the subsequent CBI enquiries that were carried out." Relying on a Supreme Court ruling in Delhi Development Authority v. Skipper Construction Company Private Limited [(1997) 11 SCC 430], Swamy argued that there was "no explanation" why RBI officials had not been investigated in "a single case" since 2000

This Court in 1997 had considered the matter that this petition deals with. In this judgement, it is brought out very clearly that the Reserve Bank nominee played a central part in deciding whether a loan should be given, and should also be in the prosecution by the CBI. There is no explanation why there has not been a single case starting from 2000 till today, even the latest one of Geetanjali and Vijay Mallya, where the CBI has taken the Reserve Bank Task

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