Have the RBI and IBBI Lost Their Accountability? An RTI to the CAG, India

 Have the RBI and IBBI Lost Their Accountability? An RTI to the CAG, India


Have the RBI and IBBI Lost Their Accountability? An RTI to the CAG, India

Posted on 24th August, 2024 (GMT 13.30 hrs)

ABSTRACT

The article discusses an RTI application filed with the Comptroller and Auditor General (CAG) of India, questioning the accountability of the Reserve Bank of India (RBI) and the Insolvency and Bankruptcy Board of India (IBBI). The RTI seeks detailed information on the expenditure and funds reserved for litigation by the Committee of Creditors (CoC) in the Dewan Housing Finance Corporation Limited (DHFL) case. It criticizes the RBI and IBBI for their inability to provide this information, raising concerns about transparency.

We filed an RTI application (CAGIN/R/E/24/02309) to the Comptroller and Auditor General (CAG) of India on 24th August, 2024. Given below is the text of the same:

Kindly inform me regarding the total expenditure (with break up) in the RBI-appointed Committee of Creditors for the Dewan Housing Finance Corporation Limited (DHFL).

With reference to the above, please also inform me with regards to the following:

  1. The amount of money reserved for the resolution professionals belonging to the CoC for DHFL for the purpose of future expenditure in litigation purposes.
  2. The source of this money for future expenditure in the court of law.
    Please answer in precise and specific terms, satisfying the aforementioned queries. Please do not refer to any online documents since I am not a tech-savvy person.

These questions were previously asked to the RBI as well as the IBBI. However, they were unable to retrieve the information so requested for unstated reasons.


CAG RTIDownload


We sincerely hope that the Honourable CAG will fulfil its motto of “truth in public interest”!

(TO BE UPDATED…)

The above application was sent with a covering letter to the CAG’s mail-id and was copied to the CJI, the Finance Minister, the IBBI, the ICAI and the RBI Governor.

Gmail – Question of Accountability of RBI and IBBI regarding the Auditing of the RBI-appointed CoC for th

e

 DHFLDownload


SEE ALSO:

RBI-appointed CoC for DHFL’s total expenditure: An RTI to the RBIVIEW HERE ⤡ 


WHO IS RESPONSIBLE FOR THE DECEPTIVE AUDITING OF THE DHFL? AN RTI TO THE CAG OF INDIAVIEW HERE ⤡




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