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Arun Jaitley Advices CBI To Avoid Adventurism In Videocon Loan Case

HARSH RANJAN | 0
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| January 26 , 2019 , 19:50 IST

Union minister Arun Jaitley cautioned the CBI against “investigative adventurism” on Friday, a day after the agency lodged FIR against former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon Group MD Venugopal Dhoot.

The minister, currently in the US on medical leave, said that one of the reasons for poor conviction rates is that “adventurism and megalomania” overtake investigators and professionalism takes a back seat.

Jaitley expressed concern over the list of bankers in the FIR apart from the main accused.

He said, “There is a fundamental difference between investigative adventurism and professional investigation.”

“Sitting thousands of kilometres away, when I read the list of potential targets in the ICICI case, the thought that crossed my mind was again the same — Instead of focusing primarily on the target, is a journey to nowhere (or everywhere) being undertaken? If we include the entire who’s who of the banking industry — with or without evidence — what cause are we serving or actually hurting,” Jaitley wrote in a blog.

Jaitley said, “investigative adventurism involves casting the net too wide, including people with no men's rea or even having a common intention to commit an offence, relying on presumptions and surmises with no legally admissible evidence.”

 “Adventurism leads to media leaks, ruins reputations and eventually invites strictures and not convictions. In the process, the targets are ruined because of harassment, loss of reputation and financial costs. It costs people their career,” he added.

He further said, "professional investigation targets the real accused on the basis of actual and admissible pieces of evidence and rules out fanciful presumptions. There is no personal malice or corruption."

"It targets the guilty and protects the innocent and secures convictions and furthers the public interest. My advice to our investigators — follow the advice of Arjun in the Mahabharat — just concentrate on the bull’s eye,” the minister added.

ALSO READ: CBI Raids Videocon Headquarter In Mumbai, Files FIR Against Deepak Kochhar & Venugopal Dhoot

On Thursday, the CBI filed a case against the Kochhars and Dhoot for alleged irregularities in six high-value loans worth Rs 1,875 crore.

But the CBI FIR also said "Kamath as well as present ICICI Bank CEO Sandeep Bakshi, Goldman Sachs India Chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan" need to be investigated.