CBI Files FIR Over Rs 184 Crore Bogus Bank Guarantees Given To MP Govt Agency

(MENAFN- IANS) New Delhi, May 10 (IANS) The CBI has registered a case involving an engineering company which alleged being cheated to the tune of Rs 184 crore purportedly by way of issue of bogus bank guarantees by a bank in West Bengal.

The bogus bank guarantees were deposited with Madhya Pradesh Jal Nigam in Indore. The Nigam detected that the bank guarantees were bogus and issued a show-cause notice to the company, Teerth Gopicon.

The federal probe agency said in a FIR registered on Saturday that it has begun a probe to investigate alleged offences like criminal conspiracy, cheating, forgery of valuable security, forgery for the purpose of cheating and using forged documents knowing it to be forged.

The case was filed on the direction of the High Court.

While directing CBI to conduct an inquiry, the Jabalpur bench of High Court of Madhya Pradesh said: "As stated by counsel for the petitioner that he made complaint to the Police Station Raoji Bazar, Indore (MP) in matter of Bank Guarantees issued by PNB Branch Baguihati (North 24 Parganas) West Bengal, dated March 20, 2023."

“Parties belong to the state and fraud is alleged to be committed partly in some other State, therefore, we hereby forward the case to the Head of Office of CBI at Bhopal to look into and investigate the case whether the petitioner has been actually cheated by a third party or petitioner cheated the respondent,” said the High Court.

Teerth Gopicon is an engineering construction and development company registered with Madhya Pradesh Jal Nigam Maryadit (MPJNM), a state-owned entity responsible for water supply and sewerage in Madhya Pradesh.

The company told the court that the Bank Guarantees were procured through persons claiming themselves to be officials of Bank and assured it of easy and early arrangement of the financial instrument needed while apply for a government contract.

“Being lured by the said assurance, the petitioner applied for the BG's and got the alleged non-authentic BG's, which the petitioner duly submitted to the respondent along with the covering letter,” said counsel for the company.

The CBI's preliminary report filed before the registration of the FIR said,“In compliance to order of Hon'ble High Court, a regular case vide No. RC0082025S0010 is registered under section 120-B read with 420, 467, 468 and 471 IPC and investigation thereof is entrusted to... CBI, ACВ, Bhopal.”

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