Gurgaon Economic Offences Wing Registers FIR in Major Corporate Fraud Case
The Economic Offences Wing (EOW) in Gurgaon has officially registered a First Information Report (FIR) concerning an alleged financial fraud amounting to over Rs 2.19 crore at a prominent renewable energy company. This significant development occurred on Sunday, marking a critical step in the investigation into corporate misconduct.
Details of the Alleged Fraud at ReNew Private Limited
According to a formal complaint lodged by ReNew Private Limited, the fraud was uncovered during an internal review of advance payments made to a vendor known as Shayona Enterprises. The company's internal audit revealed a staggering discrepancy: advances totaling Rs 2.31 crore were processed against work orders that were valued at only Rs 21.6 lakh. This alarming mismatch prompted a deeper investigation into the financial irregularities.
Key Accused and Their Roles in the Scheme
The FIR names four individuals as accused in this elaborate fraud. The primary suspect is Manish Kumar Jha, an employee of Mynd Integrated Solutions Pvt Ltd who was deployed at ReNew's Gurgaon office. Jha was entrusted with the responsibility of handling vendor payments and advances, a position he allegedly misused to facilitate the fraudulent activities.
The complaint further implicates representatives of Shayona Enterprises, specifically Dharmendra Ramchandani, Anjana Gurnani, and Ajay Singh Yadav. It is alleged that Jha acted in collusion with these individuals to siphon funds from the company through a coordinated scheme.
Mechanism of the Fraudulent Activities
An internal investigation conducted in July and August 2025 uncovered that Jha processed payments based on fake or inflated proforma invoices. These invoices were not approved by the company's relevant departments, bypassing standard internal checks and controls. The fraudulent documents were shared with Jha through personal communication channels, indicating a deliberate attempt to conceal the illicit transactions.
During the internal enquiry, Jha reportedly admitted to entering into an arrangement with the vendor around August 2024. He confessed to facilitating these fraudulent payments in exchange for kickbacks, disclosing that he received approximately Rs 65 lakh from the accused through various channels, including bank transfers.
Legal Actions and Police Response
The police have registered a case under sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code at the EOW police station. This legal action underscores the seriousness of the allegations and the commitment to pursuing justice in corporate fraud cases.
The complaint also highlighted that the vendor, Shayona Enterprises, failed to provide official documents to substantiate the transactions, further complicating the matter and raising questions about the legitimacy of their dealings with ReNew Private Limited.
Broader Implications for Corporate Governance
This case sheds light on the vulnerabilities in internal financial controls within corporations, especially in the renewable energy sector. It emphasizes the need for stringent oversight and robust audit mechanisms to prevent such fraudulent activities. The involvement of a third-party service provider employee also raises concerns about the security and integrity of outsourced financial operations.
As the investigation progresses, it is expected to reveal more details about the extent of the fraud and the potential impact on ReNew Private Limited's operations. The EOW's proactive registration of the FIR is a positive step towards addressing corporate crime and ensuring accountability in the business environment.
