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Non-bailable warrants issued in Goa scam, Prabhu let off

Sandesh Prabhudesai in Panaji

The Panaji judicial magistrate on Wednesday issued non-bailable warrants against five directors belonging to Western India Financial Services Ltd. A notable absentee from the list is Union Environment Minister Suresh Prabhu, who is also allegedly involved in the Rs 12 million financial scam.

Meanwhile, Chief Minister Pratapsing Rane, from the Congress, has given a clean chit to the central minister belonging to the Shiv Sena, and described him as a "gentleman to the core".

Though Rane claimed he would not interfere with the investigations, it is learnt that the Panaji police dropped the WIFSL former chairman Prabhu's name from the list submitted to the court at the last minute.

Warrants have now been issued against Nandan Gadgil, Narendra Kumar, Brij Bhushan Nagpal (all former directors), chairman Yogeshkumar Tiwari and newly appointed director Shanti Bai.

"Prabhu is available for investigation whereas the whereabouts of the other five are not known till today," says Inspector General of Police P S R Brar, explaining why no warrant was issued against Prabhu in the case.

During Prabhu's tenure as chairman, around 80 investors from Goa were duped by the company in November 1996, and post-dated cheques, issued to them by WIFSL, bounced. The civil suit against Prabhu and others filed in March last year has not moved ahead since apart from the minister, none of the other accused has appeared before the magistrate.

Meanwhile, a criminal complaint was lodged by nine investors with the Panaji police, along with enough prima facie evidence, based on which the warrants have now been issued. But the police have failed to provide convincing arguments as to why no warrant was issued against the minister, who appears to be the prime accused in the case.

"We are still investigating into whether it is a scam or a genuine business loss," claims the IGP, while his subordinates were claiming till Tuesday that they have enough prima facie evidence to prove that Prabhu is the prime accused.

The chief minister, meanwhile, is all praise for Prabhu, 'a son-in-law of Goa'. "I don't think he is involved in the scam", Rane says with confidence, but denies interfering with the investigations.

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