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Mumbai EOW Arrests Duo In ₹23.75 Crore Bank Guarantee Fraud

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Mumbai: The Economic Offences Wing (EOW), Mumbai, has arrested duo in a case of cheating, forgery, and criminal conspiracy after Welspun DI Pipes Ltd alleged that it was cheated of Rs.23.75 crore through forged bank guarantees submitted by Tirth Gopicon Ltd and its directors. In connection with the case, EOW has taken custody of the prime accused, Maheshbhai Kumbhani, director of Tirth Gopicon Ltd, and his associate Gaurav Pradeep Dhakad from Indore through the CBI and formally arrested them.

Based on the complaint, an FIR was initially registered in 2025 at NM Joshi Marg Police Station under relevant sections of the Bharatiya Nyaya Sanhita, 2023, and later transferred to the EOW for detailed investigation.

According to EOW officials, the investigation has revealed that the accused, in criminal conspiracy, submitted forged bank guarantees of Rs.12.50 crore and Rs.20 crore, purportedly issued by Punjab National Bank (PNB), Jalandhar and Baguiohati (Kolkata) branches, to fraudulently obtain large consignments of ductile iron (DI) pipes on credit from Welspun DI Pipes Ltd. Despite knowing that the guarantees were fake, the accused allegedly used them to secure deliveries worth Rs.89.10 crore between March 4, 2023, and March 24, 2025. While payments of Rs.64.30 crore were made, an amount of Rs.23.75 crore remains unpaid, resulting in wrongful gain to the accused and corresponding financial loss to Welspun, police said.

Welspun DI Pipes Ltd, which is engaged in manufacturing and supplying ductile iron pipes, caters about 30 per cent of its production directly to government projects across various states, while the remaining 70 per cent is sold in the open market. As per company policy, market sales are carried out either against advance payments or secured instruments such as letters of credit or bank guarantees. Tirth Gopicon Ltd, a construction company involved in road, drainage, water supply, and infrastructure projects, with registered offices in Ahmedabad and Indore, had secured a Rs.974 crore contract from the Madhya Pradesh Jal Nigam in 2023, for which it required a large supply of DI pipes.

During negotiations, Tirth Gopicon placed a purchase order worth Rs.31.11 crore with Welspun on March 4, 2023, seeking 45 days’ credit and offering a Rs.12.50 crore bank guarantee. Accordingly, a bank guarantee purportedly issued by PNB, Rama Mandi branch, Jalandhar, dated June 13, 2023, along with a confirmation email from the official bank email ID, was submitted, following which Welspun began supplying materials. Subsequently, another bank guarantee worth Rs.20 crore, allegedly issued by PNB, Baguiohati branch, West Bengal, dated January 15, 2024, was also submitted, further facilitating large-scale deliveries on credit.

The fraud came to light in May 2025 after a local newspaper in Madhya Pradesh reported cases involving fake bank guarantees linked to Tirth Gopicon Ltd. Suspecting foul play, Welspun attempted to invoke both guarantees. However, PNB’s Kolkata branch, in an email dated May 7, 2025, and the Jalandhar branch, in a mail dated May 8, 2025, categorically denied issuing any such guarantees, confirming that the documents were forged. This established that the accused had cheated Welspun by submitting fake bank guarantees to dishonestly obtain goods on credit.

Further investigation revealed that Maheshbhai Kumbhani had earlier submitted forged bank guarantees worth Rs.184 crore to the Madhya Pradesh Jal Nigam while securing government contracts. Following directions of the Madhya Pradesh High Court, the CBI registered a case and, after investigation, filed a chargesheet before the Special CBI Court in Indore, concluding that Kumbhani, along with agent Gaurav Pradeep Dhakad and bank official Govindchandra Hansda, had conspired to prepare and use forged bank guarantees.

EOW officials said the ongoing probe is focused on identifying the full conspiracy, including the role of bank officials from PNB’s Baguiohati and Jalandhar branches, tracing how and where the forged guarantees were created, and establishing whether more individuals were involved. Police have sought extended custodial remand of the accused to conduct a thorough interrogation, citing the serious nature of the offence, the large financial loss involved, and the need to uncover the wider network behind the sophisticated financial fraud.

Crime

Bengaluru: Family dispute suspected behind deadly attack on Bengal nurse by estranged husband from TN (Ld)

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Bengaluru, Sep 17: A family dispute is suspected to have been the reason behind the deadly attack in Bengaluru on a 26-year-old nurse from West Bengal, allegedly by her estranged husband from Tamil Nadu, police said on Thursday.

The victim, Madhumita, is in critical condition following the attack near Narayana Hospital in J.P. Nagar Third Phase.

DCP South Dr. Vamshi Krishna, who visited the spot, said the accused, identified as Venkateshan, allegedly attacked Madhumita with a machete and a long knife after throwing a liquid suspected to be acid, on her.

The incident took place around 9.15 a.m. near Narayana Hospital, where Madhumita works as a nurse. According to the DCP, the accused wore a helmet during the assault and used two deadly weapons in the attack.

“The accused has used a liquid similar to acid and assaulted the woman with a machete and a long knife. The couple are husband and wife, and the incident is suspected to have taken place against the backdrop of a family dispute,” Dr. Vamshi Krishna said.

Madhumita and Venkateshan had married in Madurai, Tamil Nadu, in 2024. However, the couple had reportedly not been living together for around one-and-a-half years. Madhumita had been staying in a PG accommodation in Bengaluru, while Venkateshan had earlier worked in Bengaluru before moving to Chennai.

Police said Venkateshan had travelled from Madurai to Bengaluru on Wednesday night and allegedly arrived with the liquid and weapons before carrying out the attack. He was arrested and is being questioned by the police.

The Scene of Crime Officers (SOCO) team has collected and is examining the liquid allegedly used in the attack to determine whether it was acid.

According to police sources, the couple had met through a dating application. Venkateshan allegedly suspected Madhumita and frequently fought with her over her social media posts and reels.

During questioning, Venkateshan allegedly told police that his wife was not listening to him and that he suspected she was with another man. He allegedly attacked her more than 10 times with the deadly weapons.

It can be recalled that Venkateshan allegedly chased Madhumita when she came out of the hospital. She ran towards the cellar parking area of the hospital, where the accused allegedly caught hold of her and threw the acid-like liquid on her. He then allegedly grabbed her by the hair and attacked her repeatedly with a machete and the knife.

The assault reportedly took place in full public view. Several people raised an alarm and attempted to intervene, but the accused allegedly waved the machete at those who tried to approach him. Some members of the public reportedly attempted to rescue Madhumita by pelting stones at the accused, but were unable to overpower him.

Police have obtained video recordings of the assault that were made by members of the public. The footage is expected to form part of the investigation into the incident.

The accused was eventually overpowered and taken into custody after a traffic police officer arrived at the spot.

Madhumita, who hails from Kolkata in West Bengal, sustained serious injuries in the attack and was shifted to a private hospital for treatment.

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Crime

Four held, large e-cigarette stock seized during raid on Kolkata shop

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Kolkata, Sep 17: The Kolkata Police arrested four persons and seized a large quantity of illegally stored e-cigarettes during a raid on a shop in the city, the police said on Thursday.

A joint team of the Anti-Rowdy Section (ARS) and Detective Department raided ‘The Smokers Den’ at 191 Park Street, under Beniapukur police station, on Wednesday night. The raid followed a tip-off that e-cigarettes were being illegally stored and sold at the shop.

A senior Kolkata Police officer said, “The questioning of the arrested persons is going on in this matter. The four arrested persons will be produced before the ACJM court in Sealdah today (Thursday). The investigators may apply for their custody in the court for questioning. The matter is being investigated from all angles.”

According to the police, the shop was being used to illegally store and sell e-cigarettes. During the search, investigators recovered a large quantity of e-cigarettes and arrested four persons associated with the establishment.

The accused have been identified as 22-year-old Mohammed Rifaiz, 28-year-old Abdul Hakim K, 21-year-old Ahmed Masud and 40-year-old Mohammed Ejaz. All four are residents of Kolkata.

The police said the first three accused were found to be living at an address on Linton Street in the Beniapukur police station area. The fourth accused is a resident of Ripon Street in the city.

Investigators are examining whether the shop had been stocking and selling e-cigarettes for a prolonged period. The arrested persons are being questioned to determine the source of the seized e-cigarettes, identify their suppliers, and ascertain whether other people are involved in the alleged illegal trade.

A case has been registered by the Detective Department at Beniapukur police station in connection with the incident. Police have invoked multiple sections of law in the case.

Sources said further raids could be conducted at other shops in the city as part of the investigation. The move is aimed at determining whether other shops are also illegally storing or selling e-cigarettes in the city.

Further investigation into the case is underway, said the police.

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Crime

Nepal to report details of lost passports to Interpol within 24 hours

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Kathmandu, Sep 17: The Nepal government has made it mandatory to report details of lost, stolen or cancelled Nepali passports to Interpol within 24 hours of being notified by the concerned person.

Under the “Procedure on updating details of lost, stolen and cancelled passports with Interpol, 2026,” the Ministry of Foreign Affairs has stipulated that details of such passports must be updated in Interpol’s Stolen and Lost Travel Documents (SLTD) database.

The International Criminal Police Organisation (Interpol) is the world’s largest international police organisation, connecting law enforcement agencies across 196 member countries.

For the purpose of updating the details, the Department of Passports will designate officials responsible for handling such cases and establish a coordination mechanism. The department will also maintain records of lost and stolen passports and coordinate with the Interpol National Central Bureau of Nepal Police.

The procedure introduced on Wednesday states that the information provided must include details such as the type of passport or travel document, passport number, date of issue, expiry date, date on which it was lost, stolen or cancelled, and the possible location where it was lost or stolen.

The provision aims to institutionalize the timely sharing of information among relevant agencies and ensure that details of lost or stolen passports issued by Nepal are made available internationally to help prevent their potential misuse, the ministry said.

Information involving an immediate risk of terrorism, organised crime, human trafficking, illegal international travel or other forms of misuse must be prioritized and forwarded without delay.

According to the procedure, if a passport is lost or stolen, the passport holder or their authorized representative must notify the Department of Passports in writing. If the passport holder is abroad, they must notify the nearest Nepali diplomatic mission either personally or through an authorized representative.

Upon receiving such information, the Department of Passports must search for the passport number and other available details in its system, verify the applicant’s identity and passport information, and ascertain the document’s actual status.

The passport must then be marked in the system as “lost” or “stolen,” with necessary controls applied to prevent its use. The required information must subsequently be prepared and sent to the designated official or the Interpol National Central Bureau (NCB), Kathmandu, of Nepal Police.

Similarly, Nepali diplomatic missions abroad must verify the details of a passport after receiving a report that it has been lost or stolen and immediately forward the information to the Department of Passports. They must also inform the concerned person that the passport can no longer be used.

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