The CBI has booked a former chairman-cum-managing director of state-run PEC Ltd., A K Mirchandani, and its several serving and former senior officials for allegedly cheating the PSU under the Commerce Ministry to the tune of Rs 531 crore, officials said today.
Besides the PEC officials, the agency has booked two private firms, Pisces Exim (I) Pvt. Ltd. and Jet Link Infotech Pvt. Ltd., and their officials on charges of criminal conspiracy and corruption among others, they said.
The PEC had entered into 15 agreements with Pisces Exim Ltd. between 2010 and 2012 for the export of iron ore to a foreign buyer, for which funds were released by it, they said.
In its complaint, the PEC has claimed that Pisces Exim allegedly defaulted on its agreement, they said. Not only it failed to supply iron ore, as required, but also failed to refund the amount paid to it by the PEC, they said.
"At present, a sum of Rs 531.72 crore (including the interest up to September 30, 2016) is due and payable to PEC along with interest till realisation," the PEC has alleged in its complaint, now a part of the FIR.
The agency has booked 15 persons and companies in this connection.
Besides Mirchandani, the agency has booked Rajiv Chaturvedi, Chief General Manager, R C Gilani former GM Finance, S K Kochhar, former JGM, A K Gandotra former CGM, R P Bansal, former CMM, Saugata Roy, Marketing Manager of PEC Limited.
Besides companies, the agency has named Soumit Ranjan Jena, sole proprietor of Pisces Exim, its directors Pravin Kumar Rathod and Shantanu Sharma, MD of Jet Link G Sadanand Rao, Shiv Bhushan and M Srinivas.
It is alleged that Shiv Bhushan had mortgaged 1820 acres of land as personal guarantee but he did not have clear title to do so.
The cheques worth Rs 300 crore presented as guarantee had also bounced.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)