The Hindu : National : ``Retrieve money from Quattrocchi''

Online edition of India's National Newspaper
Wednesday, Feb 14, 2007
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National

National

``Retrieve money from Quattrocchi''

Legal Correspondent

Supreme Court sends notice to CBI

New Delhi: The Supreme Court on Monday sought the CBI's response to a petition for retrieving the money withdrawn by Italian businessman Ottavio Quattrocchi from two bank accounts in London with the receipt of payments of commission from Bofors by AE Services.

A Bench consisting of Justices C.K. Thakker and L.S. Panta granted four weeks for the CBI to file its reply to the petition filed by advocate Ajay Agarwal.

The CBI initiated the process of freezing the accounts in July 2003 through the special court in Delhi but it did not obtain court leave before defreezing the two accounts on the plea that no permission was necessary in an ongoing investigation.

Mr. Agarwal said the CBI facilitated the defreezing of accounts. On January 16, 2006, the apex court directed the CBI to ensure that the amount was not withdrawn from the bank. Till date a red-corner notice was pending against Mr. Quattrrochi and every effort was being made to bring him to India to face trial.

Mr. Agarwal alleged that the CBI had assisted Mr. Quattrrochi in siphoning off the amounts after getting the two bank accounts defreezed. To make the CBI's attempt to bring Mr. Quattrrochi to face the trial more meaningful, it would be appropriate if the court directed it to retrieve the amounts he withdrew from the two bank accounts and transfer them to India.

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