MUMBAI, Sept 30: The Anti-Corruption Bureau of the Central Bureau of Investigation today submitted its closure report in the MS Shoes case in a special CBI court citing lack of evidence. The CBI had filed a complaint under Section 68 of the Companies Act on the 10th of this month in the Additional Chief Metropolitan Magistrate's Court against Pawan Sachdeva, MS Shoes chairman and also the company.Today's closure report puts and end to the ACB's case against SBI Caps general manager P S Mehrotra and manager Neethika Juneja, and the then executive director M D Patel and his SEBI assistant, who were named in the FIR filed in 1995. Sachdeva was himself named as a conspirator with the officials in the FIR.
SEBI and SBI Caps officials were named in the FIR for alleged acts of ommission and commission in the prospectus for the Rs 600 crore public-cum-rights issue of MS Shoes in February 1995.
The Chief Vigilance Commissioner had last month turned down a recommendation of the CBI, Mumbai to prosecute thosenamed in the FIR under the Prevention of Corruption Act and the IPC.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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