NEW DELHI: The Health Minister, B.Shankaranand, on April 27 denied that his sons and daughters were involved in the multicore securities scam and claimed that no irregularities were committed during his tenure as Petroleum Minister and Chairman of the Oil Industry Development Board (OIDB).
Deposing before the joint parliamentary committee probing the scam, Shankaran and said his son, a director of the Canara Bank in 1992, had not influenced his decisions regarding the OIDB investments in securities.
Shankaranand categorically said that as the OIDB chief he had “acted according to previous practice” and that the investment decisions were based purely on the “highest rate of interest and yield.” Briefing newsmen, the JPC Chairman, Ram Niwas Mirdha, said Shankaranand had contended that during his tenure as Petroleum Minister and OLDB chief from June 1991 to January 1998, the investment offers had been processed by the financial adviser, chief accounts officer and secretary to the OIDB, which were put up to him for approval.
Article extracted from this publication >> April 30, 1993
