Others

Other Deals

CBI raids residence of former DIPP secy Ramesh Abhishek

Inc42  

The Central Bureau of Investigation (CBI) has raided the residential premises of former bureaucrat Ramesh Abhishek.Prior to his retirement in 2019, Abhishek was the secretary of the erstwhile Department of Industrial Policy and Promotion (DIPP). The DIPP was responsible for the implementation of the Centre’s Startup India initiative. Later, the DIPP was renamed as the Department for Promotion of Industry and Internal Trade (DPIIT).As per a complaint filed with the Lokpal and CVC (Chief Vigilance Commissioner), Ramesh Abhishek allegedly favoured 16 companies, including fintech major Paytm, during his stint as a public servant. In a post-retirement affidavit filed with the Lokpal, Abhishek said he earned over INR 2.7 crore as professional consultancy fees within 15 months after his retirement. Abhishek also serves as an independent director on the board of Paytm Payments Bank, which is facing the ire of the Reserve Bank of India for “persistent non-compliance”.