Not exactly an Indian rhapsody for banknote manufacturer De La Rue

DE LA RUE is entangled in a corruption probe involving India’s former Finance secretary Arvind Mayaram.

The Gateshead company, which produces bank notes, recently learnt that India’s Central Bureau of Investigation (CBI-I) began investigating Mayaram’s activities before 2016.

Together with Finance Ministry and the Reserve Bank of India officials, he faces charges of criminal conspiracy, corruption and abusing his official position.

All allegedly conspired to unduly favour De La Rue in a deal to sell bank note security features “to the detriment of the Indian exchequer.”

De La Rue learnt of the scandal following Press reports and said it had not worked for the Indian government or central bank since 2016.

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