Railway removes Amitabh Banerjee as IRFC CMD over corruption

The railways have asked Shally Verma, director finance, IRFC, to officiate as its CMD for the next three months

IRFC CMD removed

New Delhi: Waking up to serious allegations of financial irregularities and ‘gross’ misuse of office, the India Railway has ordered removal of Amitabh Banerjee as the chairman and managing director of the Indian Railway Finance Corporation (IRFC) with immediate effect.

IRFC is a public sector undertaking (PSU) under the railway ministry, which arranges money for the railways to purchase rolling stocks and creation of infrastructure.

Banerjee was removed from the post, days after the government sacked Satish Agnihotri, who was the managing director of another railway PSU, National High Speed Rail Corporation (NHSRC) over the charges of corruption.

The railways had given its nod to the vigilance to proceed with its inquiry against Banerjee in October 2020, when he was found to be indulging in corrupt practices, misusing his official power and getting fake bills reimbursed by the office.

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The Central Bureau of Investigation (CBI) had also filed a case against him in a multi-crore financial scam when he was working in another PSU. Banerjee is an Indian officer accounts service officer.

Meanwhile, the railways have asked Shally Verma, director finance, IRFC, to officiate as its CMD for the next three months. Officials said that the process of appointment of the new CMD would start soon, as the law is sure to take its own course in matters relating to Banerjee.

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Officials said that the railways gave the vigilance clearance to inquire into the financial and other conducts of Banerjee after a right activist presented documents pertaining to his roles in a number of corrupt practices while in office.

Banerjee has been accused of renting out his own house for official guest house against the set norms. He was also alleged to have enjoyed free of cost foreign travel on the company’s exposes without being qualified for it. Moreover, he was found to be getting medical bills of his family members and relatives reimbursed from the office without being authorised for it.

Officials claimed that the office had reimbursed the purchases of groceries for his home and items of personal use from marts.

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