The Economic Offences Wing (EOW) of Mumbai has closed three out of four cases registered against multiple companies and their directors for allegedly defrauding the state government of nearly Rs 123 crore through fake bank guarantees in the solar agriculture energy channel 2.0 tender process. The closure came after the EOW found no criminality and no financial loss to the government.
Background of the Case
On February 20, the EOW took over the investigation into a complaint filed by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) at Nirmal Nagar police station. The complaint was against directors of several firms, including Nacoff Urja, NOPL Projects, Integration Induction Power, IIPL Three Hingoli, IIPL Four Parbhani, Nacoff Urja-NOPL Pace Green Energy, Onix Renewable, and Onix IPP. MSEDCL alleged that these companies had entered into power purchase agreements by submitting bank guarantees prepared using fake rubber stamps. The scheme was aimed at making electricity available to farmers during the day.
EOW Investigation and Findings
An EOW officer stated, “We examined all the relevant records and filed a C summary report in three cases involving a total of Rs 109.2 crore before the Esplanade court.” A C summary report is filed when a case is registered by mistake or no criminality or cognizable offense is found. The three closed cases involved alleged financial losses of Rs 11.3 crore, Rs 48.5 crore, and Rs 49.5 crore, as mentioned in the First Information Reports (FIRs). However, the investigation into the fourth case, where the loss to the state government was tagged at Rs 13.65 crore, is still ongoing.
The officer added, “The statements of all the accused were recorded. Later, fresh bank guarantees were submitted by these companies, which had earlier appointed a third party for submitting bank guarantees.”
Next Steps
According to sources, the complainant, MSEDCL, has the option to file a protest petition in court against the C summary report.
About the Author
Mateen Hafeez is a special correspondent at The Times of India in Mumbai, reporting on terrorism, underworld, cybercrime, and organized crime syndicates. He also writes about jails in Maharashtra and focuses on human interest stories. He has covered the Ghatkopar bomb blast, Vile Parle bomb blast, Mulund train blast, train serial blasts in 2006, the 26/11 terror attacks, and Pune's German Bakery bomb blast. He has a special interest in Urdu fiction written by Ibn-e-Safi.
