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CBI has recovered Rs.five crore out of Rs.11.67 crore that
the Andhra Pradesh Govt. had paid to Vasistha Wahan Company
as a part of equity capital of 2.5% that the State Govt. wanted
to purchase. The money was recovered from one George V. Joseph
of Bangalore, a private person to whom Jagdish Alagar Raja,
a Director of Vasistha Wahan Company had lent on interest
basis. At the instance of CBI, Joseph handed over the money
in the form of Bank Draft and with the court's permission
CBI is taking the amount into its own account and subsequently
the amount will be deposited with the court. CBI came to know
of Joseph after examining the statement of accounts of the
accused company, Vasistha Wahan. The investigating agency
has also come to know that Rs.3.6 crore has been despatched
to an account of German, a firm named IXXXT. Dr.Helmut Shuster,
another accused in the case is suspected to be the beneficiary
of this account.
CBI is quite hopeful that it would be able to recover the
remaining amount of the money. It is in the process of getting
Non-Bailable Warrant issued in the name of Alagar Raja and
Shuster who are suspected to be in the British Virgin Island
and Germany respectively.
On the request of the A.P. Government, CBI registered the
case early last month relating to the fraud of Rs.11.67 crore
and carried out searches in Delhi, Chennai and Gurgaon and
the official and residential premises of the Directors of
Vasistha Wahan company and had recovered incriminating documents.
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