CBI chief denies financial wrongdoing

Acting CBI Director M. Nageswara Rao yesterday described media reports citing irregularities in the investments made by his wife in a private company as “incorrect and untrue.”

Rao in a signed statement said all the transactions and investments made by him or his wife, Mannem Sandhya, have been given to the competent authorities, and everything has been mentioned in his annual property returns.

A media report cited that his wife borrowed Rs2.5 million (Dh125,215) from Angela Mercantile Pvt Ltd (AMPL) in March 2011. (IANS)