CBI files case against CMD, officials for defrauding public money

New Delhi, Oct 1 : The Central Bureau of Investigation (CBI) on Friday registered a case against then CMD of PEC, officials, private company and two directors for allegedly defrauding public money, the agency statement said.

It was alleged that the accused and others entered into a conspiracy among themselves. In pursuance thereof, they had allegedly cheated and defrauded to usurp the public money to the tune of Rs.56,89,52,416 being principal and interest due as on June 20, in financing for domestic procurement of iron ore and coal to said private company based at District Sundargarh in Odisha and thereby causing loss to the PEC Limited New Delhi, said CBI.

Searches were conducted on Friday at the office and residential premises of the accused at 11 places, including in New Delhi, Thane in Maharashtra, Guwahati and Ghaziabad which led to recovery of incriminating documents and articles.


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