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Subramanyam, Mehta were tipped off on raid: CBI

BS Bureaus

There is suspicion among Central Bureau of Investigation officials that former Unit Trust of India chairman P S Subramanyam and Renaissance Securities director Rakesh Mehta had been tipped off about Friday's CBI raids well in advance.

According to highly placed intelligence officials, on Thursday both Subramanyam and Mehta had engaged an international packing and moving agency to shift a lot of documents and personal effects from their respective residences to a safer hiding place.

A senior intelligence official: "We are on the trail of an address in Bandra (West) in Bombay, where Subramanyam had moved a substantial amount of luggage through a packing and moving agency from his Cuffe Parade residence at Maker Towers."

Intelligence agencies were pursuing leads in order to establish where the leakage of information occurred, he added. "It was much like bolting the stable once the horses have run away. We are investigating the matter," he said.

It is not clear as yet whether the other accused, including UTI directors M M Kapoor and S K Basu also benefited from a similar tip off, the sources added.

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