Lok Sabha Question No. 696 (UNSTARRED), answered on 2017-07-20
Subject: CBI Investigation against Firms
Ministry: TEXTILES
Asked by: C. MAHENDRAN, R. PARTHIPAN

## LOK SABHA UNSTARRED QUESTION NO. 696 TO BE ANSWERED ON 20.07.2017

## CBI INVESTIGATION AGAINST FIRMS

696.    SHRI C. MAHENDRAN: SHRI R. PARTHIPAN:

Will the Minister of TEXTILES वस्त्र मंरी be pleased to state:

- (a) whether the Handicrafts and Handlooms Exports Corporation of India Limited (HHEC) had  entered  into  agreements  with  private  entrepreneurs/firms  for  import  of  bullion  against  a deposit  of  Margin  Money  of  5%  of  the  value  of  placement  of  indent  and  if  so,  the  details thereof;
- (b) whether Central Bureau of Investigation (CBI) has registered a Preliminary Enquiry (PE) or  Regular Case (RC) against any firms who have entered into agreement with HHEC in the case of import of bullion;
- (c) if  so,  the  details  thereof  along with the names of firms against whom investigation has been launched and the status of the investigation;
- (d) whether CBI has given any direction to HHEC to withhold Margin Money paid in 2012 and 2014 by small firms who are not involved in investigation by the CBI and are being linked unnecessary by HHEC on the pretext of investigation against one identified company; and
- (e) if, so the details thereof and reasons therefor?

## उत्तर

## ANSWER वस्त्र      मंरी (श्री अज      )

## MINISTER OF STATE FOR TEXTILES (SHRI AJAY TAMTA)

- (a): Yes,  Madam. HHEC had entered into the agreement with private entrepreneurs/firms for import of gold under 20:80 Gold Import Scheme of Reserve Bank of India against a deposit of Margin money of 5% of the provisional value of placement of indent. This Margin money is adjusted  upon  final  delivery  of  gold  meant  for  export  and  domestic  consumption  on  pro-rata basis after adjustment of any dues, amount arising out of forex fluctuations, bank charges and any expenditure etc.

(b) & (c): Yes, Madam. CBI has registered following cases:-

(i) Case no.RC221/2015/E0020 dated 31/12/2015 against the unknown public servants of HHEC and Shyam Kedia, Vice President of Edelweiss Commodities Services Ltd. (ECSL), M/s ECSL & unknown others.

(ii)  Case  No.  RC219  2016  E0007  dated 28.04.2016  against M/s Aaryavart Commodities Pvt. Ltd. a company registered under Companies Act, 1956 having registered office at 210, Chitrarath Complex,  Opp  Municipal  Market,  Near  President  Hotel  C.G.  Road  Ahmedabad  -380009  its Director  Shailesh  J.  Bhatt,  its  representatives  Shri  Suresh  Gadecha,  Shri  Deep  Gadecha,  Shri Chitan  Shah,  Shri  Bhuvan  Matalia,  Shri  Mahesh  kacha,    Shri  Gunvantbhai  J    MandaliyaAuthorised Signatory of ACPL, Hiralal Gordhandas Zaveri resident of Parshaw Avenue, Prgna Society,  Navarangpura,  Ahmedabad, Gujarat  and  unknown persons under Section 120B,  420 467 and 468 of IPC and Section 7 and 13 of Prevention  of Corruption Act.

Both the above cases are under investigation by CBI.

(d) & (e): CBI has not given any direction or advisory to HHEC for withholding Margin money. HHEC had not received any margin money of the provisional value of placement of indent in the financial year 2012. HHEC had entered into the agreement with private entrepreneurs/firms for import of gold only under the 20:80 Gold Import Scheme of RBI against a deposit of Margin money of 5% of the provisional value of placement of indent in the financial year 2013-14 and 2014-15 and till date, no margin money is pending or payable to any parties.

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