Five Years Rigorous Imprisonment To Then Managing Director Khadigram Udhyog New Delhi For Possession Of Disproportionate Assets
The Special Judge, Saket Courts, New Delhi, has convicted Shri S. Malaichamy, an IAS officer of 1971 Batch(AGMUT Cadre), the then Managing Director, Khadigram Udhyog, New Delhi(Now retired) U/s 13(2) r/w 13(1)(e) of PC Act, 1988 for possession of disproportionate assets and sentenced him today to undergo five years Rigorous Imprisonment with fine of Rs.Ten Lakh. The case was registered against Shri S. Malaichamy, IAS (AGMUT - 1971), the then Managing Director, Khadigram Udhyog, New Delhi, on allegations of acquisition of assets disproportionate to his known sources of income worth Rs.1.3 crore as against income of Rs.46 lakh. After registration of case, searches were conducted at residence, office and other properties in possession of the accused and his family members. CBI investigation revealed that the accused had been in possession of assets worth Rs.1.3 crore as against the total likely savings of Rs. 59 lakh and was, therefore, found to be in possession of disproportionate assets worth more than Rs. 64 lakh. The accused was found to be in possession of such disproportionate assets in his name and in names of wife & other family members. After thorough investigation, a charge sheet was filed on 9-3-2005 against Shri S. Malaichamy. In the charge sheet, 193 witnesses and 198 documents were relied upon. The Court found the accused guilty and convicted him, while appreciating the efforts of CBI. The accused has been sent to Tihar Jail, New Delhi.