C'Wealth Games irregularities: CBI starts property attachment of accused

The CBI today began attachment of properties of three absconding accused in connection with irregularities in the award of a contract to a Swiss firm during the Commonwealth Games causing a loss of over Rs95 crore to the exchequer.

In its charge sheet, CBI has accused Anil Madan and PD Arya of Faridabad-based Gem International and AK Reddy of Hyderabad-based AKR Constructions of conniving with the organising committee officials to get the contract awarded to Switzerland-based Swiss Timing at Rs157.62 crore, ignoring the bid of a Spanish firm which was for Rs62.01 crore.

The three accused, however, could not be traced by the agency following which it sought permission to attach their properties from the special CBI court which recently granted them permission, sources said.

Teams of CBI sleuths reached the premises of the accused at Faridabad and Hyderabad and started the proceedings this morning, sources in the agency said.

The CBI had alleged that Madan and Arya allegedly conspired with the organising committee officials for getting the Timing Scoring and Results system contract awarded to Swiss Timing and received a payment of nearly Rs 23.21 crore from it for perfunctory services.

"In this endeavour, they also conspired with the CMD of Hyderabad-based private constructions company who raised highly inflated and bogus invoices for Rs11.28 for temporary cabling work, in order to justify the huge payment received from the Swiss-based company," a CBI spokesperson had said.