Submit specific instances where CBI has not taken action against directors: SC to Swamy

New Delhi: The Supreme Court on Monday directed BJP leader Subramanian Swamy to submit specific instances where the CBI has not proceeded against independent directors of banks, allegedly involved in banking scams, despite the availability of material.

The order was passed in a PIL filed by Swamy seeking a probe into the alleged role of Reserve Bank of India (RBI) officials in various banking scams.

A bench of justices BR Gavai and Vikram Nath asked Swamy to file an affidavit in this regard within four weeks.

“Dr Subramanian Swamy, petitioner-in-person, seeks four weeks’ time to file an affidavit so as to point out specific instances wherein, though there was material against the independent Directors, the CBI has not proceeded against them. List this matter after six weeks,” the bench said.

The top court said if Swamy “prima facie” shows that Central Bureau of Investigation (CBI) has not acted against independent directors, it may examine the role of the agency.

Solicitor General Tushar Mehta said if the role of RBI officials is made out in the process of the probe, they will be added as accused and investigated.

He said Swamy has only made “broad propositions” and the plea lacked any particular instance.

In his plea, Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed.

He contended that despite playing a key role in the allocation of funds to various projects, RBI nominees have not been touched by CBI inquiries from 2000 till today.

“Not a single RBI official has been brought to justice despite RBI retaining the power to monitor, regulate, supervise, audit and direct the functioning of all banking companies in India,” the plea submitted.

The plea also alleged that RBI officials had acted in demonstrable active connivance in direct violation of statutes, including the Reserve Bank of India Act, the Banking Regulation Act and the State Bank of India Act.