CBI has arrested Sh. George Kuruvilla, then CMD BECIL and Sh. WB Prasad, then GM BECIL and were produced before the Special CBI Court, Mumbai. The arrests comes in a case of alleged bribery of Rs 3 crore and fraudulent disbursal of loan from BECIL to an accused Mumbai based firm. The Court has granted Police Custody of arrested accused public servants for 4 days till 19.04.2025.
CBI had earlier arrested another accused Prateek Kanakia, CEO of M/s. TGBL on 24.03.2025 and was taken on Police Custody which was allowed till 01.04.2025 and he continued in judicial custody thereafter. In view of arrest of accused public servants, remand of accused Sh. Prateek Kanakia was also sought. The Special CBI Court, Mumbai gave his further police custody of 03 days on 17.04.2025 till 19.04.2025.
CBI had earlier registered a case in 3.9.2024 against Shri George Kuruvilla, then CMD, BECIL; Shri W.B. Prasad, GM(P-1), BECIL; Shri Ashish Pratap Singh, then Legal Advisor, BECIL; Shri Sudhir Chauhan, then Consultant, BECIL; Shri Prateek Kanakia, CEO & Founder of M/s. TGBL, Mumbai; M/s. TGBL, Mumbai and unknown others for the offences u/s. 120-B r/w 201, 420, 467, 468 & 471 IPC and Section 7 of the Prevention of Corruption Act, 1988 (As amended in 2018).
Investigation conducted so far has revealed that during the year 2022 accused persons entered a criminal conspiracy with each other and in furtherance of the said criminal conspiracy, the Chairman & Managing Director of BECIL sanctioned and got disbursed venture loan of Rs.50.00 crore to M/s. TGBL and obtained an undue advantage of Rs.3.00 crore from co-accused Prateek Kanakia.
Investigation also revealed that M/s. TGBL (co-accused Prateek Kanakia) had submitted fake Performance Bank Guarantee (PBG) of Rs.25.00 crore. Further, Co-accused Prateek Kanakia did not utilise the loan amount for the purpose it was sanctioned and did not return the said loan to BECIL.
Due to omission and commission on the part of arrested accused BECIL has incurred a wrongful loss of Rs.58 crore (approx.).
Investigation is continuing.
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