Former oil regulator Sibal in CBI net for graft

The Central Bureau of Investigation has charged former director-general of hydrocarbons VK Sibal, and six of his former colleagues with criminal conspiracy to grant undue favours to GX Technology, an American seismic exploration firm.

The CBI on Friday conducted raids at 15 places across Mumbai, New Delhi, Noida and Dehradun. Sibal's residence in Noida has also been raided. ''A first information report has been filed against him,'' the CBI said.

The Houston-based company and its Indian representative Sujata Venkatraman have also been named in the FIR for showering Sibal and his family with favours. Sibal has since then been repatriated to his parent company Oil India Ltd.

''It is alleged that officials of DGH had given undue favour to a private company in speculative seismic survey in lieu of personal favours obtained from representatives of a private company,'' CBI spokesperson Dharini Mishra said.

''It has also been alleged that in 2005, a contract was awarded to the private company for conducting seismic speculative survey on nomination basis at an exorbitant cost and this caused a huge financial loss of about Rs400 crore to the government,'' he added.

It has been alleged that the entire cost incurred by Sonia Sibal, the former DGH's younger daughter, in completing a hotel management course from one of the prestigious institutes of Switzerland was borne by Venkatraman.