NEWS SHARADA CAG
NEW DELHI: The Modi government, which sat through galloping corruption in the bureaucracy and did too little to check the menace in the past six years, has acted firmly in one instance. Sharada Subramaniam, principal director in the Comptroller and Auditor General of India (CAG), has been dismissed from service after allegations came that, during one of her previous term with Coffee Board as its director finance, she illegally diverted crores into mutual funds and made money for herself.
She is a 1991-batch Indian Audit and Accounts Service (IA&AS) officer. It was on May 19 that the Union finance ministry gave its nod to the CAG for the dismissal of Sharada Subramaniam. The senior auditor had submitted a 250 page representation to the CAG on November 7 last, denying accusations against her in a UPSC report.
The CAG, the UPSC and the finance ministry agreed in one voice that Sharada be taken to task. The CAG issued an order on June 13, 2018, suggesting that penalties be imposed on her service rules, 1965. What was aimed at was compulsory retirement or dismissal from service.
Subramaniam filed a petition in the Central Administrative Tribunal (CAT) on November 20 against the CAG’s indictment. The CAT, however, denied any interim relief to her. Sharada Subramaniam claims that she is a victim of fraud played by some officials in the nationalised bank and mutual fund. She said she will challenge her dismissal in a court.
Subramaniam was posted at Bangalore as finance director of the Coffee Board in year 2000. The Authority’s huge funds — more than Rs 2,900 crore — were illegally diverted by her for investments in mutual funds etc including Coffee Board and Bangalore Metro Rail Corporation Ltd, as per the charge sheet. The CAG officer has been accused of conniving with others in the organisation to misappropriate BDA’s money.
Notably, Sharada’s husband Sandeep Dash too has a tainted image. He was dismissed from Indian Civil Accounts Service (ICAS) after he was arrested by the Karnataka police in 2015 on charges of embezzling state exchequer in the same BDA scam. He committed irregularities as member of finance of BDA from 1997 to 2005. Later he moved out as Executive Director (Finance) Bangalore Metro Rail Corporation Limited.
Due to investments in mutual funds, the BDA had lost Rs 192.41 crore towards July 2015, the CAG had revealed in its 2016 audit report. – AGENCIES, IHN-NN
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