Centre partnered with blacklisted currency paper supplier: AAP

Aam Aadmi Party on Thursday alleged that the Central government engaged blacklisted foreign company ‘De La Rue’ to supply paper for printing new currency. The party has alleged that the government has compromised national security as the ban was imposed after the company was found guilty of violating security norms in an investigation by Central Bureau of Investigation (CBI).  

“The company in question, De La Rue, had been investigated by the CBI in 2010-2011 and it was found that the company had not honoured its security feature requirements and was also found to be involved in a fake currency racket that spread across Pakistan and Nepal,” said a press statement by the AAP. 

‘De La Rue’ was also investigated by United Kingdom’s Serious Fraud Office and it was found that the company’s employees had falsified specification test certificates for some of its clients, added the statement. 

“The company also finds mention in the Panama Papers for its alleged involvement in a money laundering scheme. The Papers also revealed that ‘De La Rue’ had paid a hefty commission to a New Delhi-based businessman to ensure that the company got the RBI’s contracts,” alleged AAP. 

However, Millennium Post could verify the documents independently.

The AAP further alleged that ‘De La Rue’ has proudly proclaimed itself to be the supplier for the Reserve Bank of India, and a partner of Narendra Modi’s ‘Make In India’ policy. 

The company was officially blacklisted by the Reserve Bank for its fraudulent activities in February 2011. However, all records of the blacklisting appear to now have been pulled down from the website, alleged the AAP. The government is reportedly using the papers supplied by the company to print notes of Rs 2,000 and Rs 500 denominations. 

The AAP has been critical of demonetisation and has demanded a rollback at various forums.  

“The fact that the government has chosen to white-list a firm that was known to have been involved in a fake currency racket is shocking and appalling. This revelation has placed the entire exercise of this government’s introduction of new currency under a cloud of suspicion,” said AAP national spokesperson Dilip Pandey adding that the economy is heading towards a serious crisis. 

Pandey has demanded that the government should come clear on the engagement of the company for supplying papers for publishing new currency notes. 

Furthermore, as the company was involved in money laundering in the Panama case, the government should come clean on its motive to flush out black money, added Pandey.