CBI Exposes ₹974 Crore Fake bank Guarantee Scam
Arrest of Key Accused
The Central Bureau of Investigation (CBI) has arrested two individuals in connection with a massive bank guarantee scam.
The accused are Mahesh Kumbhani, Managing director of Tirth Gopicon Limited, and *Gaurav Dhakad.
Both were allegedly involved in securing projects worth ₹974 crore using fake bank guarantees.
The ₹974 Crore Project Fraud
CBI investigation revealed that the Indore-based company Tirth Gopicon Limited obtained three major irrigation projects from Madhya Pradesh Jal Nigam Limited (MPJNL).
The company submitted eight fake bank guarantees worth ₹183.21 crore to win the contracts.
These guarantees were falsely shown as issued by punjab National bank (PNB).
Advance Payment of ₹85 Crore
After securing the projects, the company also managed to obtain an advance payment of ₹85 crore.
The fraudulent documentation and fake bank confirmation allowed the company to siphon government funds.
Fake Emails to Build Trust
To strengthen the fraud, the accused also sent fake emails using PNB’s official domain.
These emails falsely confirmed the authenticity of the guarantees.
Based on this fake communication, MPJNL trusted the company and allotted the high-value projects.
Projects Across Three Districts
The scam was linked to irrigation projects across Chhatarpur, Sagar, and Dindori districts in Madhya Pradesh.
The fraudulent guarantees led to contracts being sanctioned without proper verification.
Court-Directed Investigation
The case came to light after questions were raised in court about the authenticity of the guarantees.
The madhya pradesh high court ordered an investigation, following which the cbi registered three separate cases.
The scam not only exposed the fraud but also revealed serious negligence in government departments.
Ongoing Investigation
Both accused have been arrested and will be produced before the Special Magistrate in indore Court.
The cbi has confirmed that the investigation is still ongoing to uncover the full extent of the fraud.
Officials believe the scam has caused massive financial loss to the government treasury.
✨ The case highlights how fake bank guarantees and emails were used to manipulate the system, underscoring the need for stricter verification processes in government projects.
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