On the 17th of October, Monday, the Indian Railways has removed Mr. AMitabh Banerjee, the Chairman and Managing Director of its Public Sector Undertakings (PSU.)
The decision was taken by the Indian Railways considering the irregularities, misconduct of finances and misuse of power by Mr. Amitabh Banerjee, who also handles the PSU Indian Finance Corporation (IRFC.) Notably, Mr. Amitabh Banerjee is alleged of financial misconduct and misuse of position.
Getting into the details, Mr. Amitabh Banerjee allegedly used PSU IRFC money funding to pay exorbitant medical bills, long term visa fee for foreign travel on his personal passport, groceries, vegetables, dry fruits, a computer mouse, sanitary items and utilities bills.
Moreover, after a vigilance investigation by the Indian Railways, it was found that in 2020, after being appointed as the MD of PSU IRFC, Mr. Amitabh Banerjee shifted to a 4 BHK flat with his family, which was on lease worth Rs. 2 lakhs.
The development came days after the government sacked National High Speed Rail Corporation Limited MD Mr. Satish Agnihotri over corruption allegations.
It is to be noted, the IRFC is a public sector undertaking (PSU) owned by the Railways which lends money to the national transporter for the purchase of rolling stock and, of late, the creation of infrastructure assets.
Meanwhile, after the removal of Mr. Amitabh Banerjee as the PSU IFRC MD, Ms. Shelly Verma, the Director of IRFC Finance Department has been given the additional charges, with immediate effect.
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