Thursday | May 01 2025 | 08:25:14 PM
New Delhi, April 21
The Central Bureau of Investigation (CBI) has arrested George Kuruvilla, then CMD BECIL and WB Prasad, then GM BECIL in 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.
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 April 1 and he continued in judicial custody thereafter. In view of arrest of accused public servants, remand of accused Prateek Kanakia was also sought.
CBI had earlier registered a case against George Kuruvilla, then CMD, BECIL; W.B. Prasad, GM(P-1), BECIL; Ashish Pratap Singh, then Legal Advisor, BECIL; Sdhir Chauhan, then Consultant, BECIL; 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 and 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. He 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 crores.
