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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

Tamil Nadu: Beedi leaves worth Rs 17 lakh meant for Lanka seized near Thoothukudi coast

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Thoothukudi, July 11: In a major anti-smuggling operation, the Tamil Nadu Q Branch police seized beedi leaves worth an estimated Rs 17 lakh that were allegedly being smuggled to Sri Lanka from the Thoothukudi coast in the early hours on Saturday.

The consignment was recovered from a forested stretch near Inigo Nagar Beach, while the suspected smugglers managed to flee after spotting the police.

The operation was launched following a specific intelligence input received by Q Branch Inspector Vijaya Anitha, who was informed that a large quantity of beedi leaves was being stockpiled in the Inigo Nagar coastal area for clandestine transportation to Sri Lanka by boat.

Acting on the tip-off, a special police team led by Sub-Inspector Ramachandran, along with Special Sub-Inspector Ramar, Inspectors Irudayaraj Kumar and Isakkimuthu, and First Grade Constables Palani, Balamurugan and Pechiraj, conducted a late-night patrol in the South Police Station limits of Thoothukudi City Sub-Division.

During the search operation, the team reached a forested area south of Inigo Nagar Beach, where they discovered a cache of beedi leaves concealed and kept ready for loading onto a boat bound for Sri Lanka. Police recovered 18 bundles of beedi leaves, each weighing approximately 30 kg, indicating that the consignment had been carefully packed for sea transport.

However, the suspected smugglers, who were reportedly present in the vicinity, escaped into the darkness after noticing the approaching police personnel. In addition to the contraband, the police also seized a cargo vehicle believed to have been used for transporting the beedi leaves to the coastal loading point.

Officials said the seized consignment has an estimated international market value of around Rs 17 lakh. The recovered beedi leaves and the cargo vehicle are being handed over to the Customs Department for further investigation and legal proceedings.

Police have launched an investigation to identify and apprehend those involved in the smuggling network.

Investigators are examining the ownership of the seized vehicle and gathering intelligence to trace the larger syndicate suspected of operating along the Thoothukudi coast.

The seizure is part of the intensified surveillance being carried out by the Q Branch and other enforcement agencies to curb cross-border smuggling activities between the Tamil Nadu coast and Sri Lanka.

Authorities said further investigations are under way to determine the intended recipients of the consignment and whether the operation is linked to an organised smuggling network operating in the region.

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Crime

NESCO drug overdose case: Vanrai Police arrest 14th accused, twin brother of alleged mastermind Mahesh Khemlani

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Mumbai, July 11: The Vanrai Police have arrested the 14th accused in the high-profile NESCO drug overdose case, taking into custody Nitesh alias ‘Nick’ Khemlani, the twin brother of alleged mastermind Mahesh alias ‘Mark’ Khemlani.

According to police, Nitesh Khemlani was arrested following an investigation into the suspected financial network linked to the drug case. He was produced before a local court, which remanded him to police custody until July 13 for further questioning and investigation.

The arrest comes as part of the ongoing probe into the drug-related incident reported at the NESCO area in Goregaon, Mumbai. Police are examining the alleged drug syndicate’s operations, including its financial transactions and links among the accused persons.

The Vanrai Police said that during the investigation, suspicious financial transactions between Nitesh Khemlani and some of the accused already arrested in the case came to light. Based on these findings, police took him into custody for further investigation.

Investigators are now questioning Nitesh Khemlani to trace the alleged financial network behind the drug operation, identify possible sources of funding and uncover further links connected to the case.

The arrest marks the 14th in the case, with police continuing their probe into the wider network involved in the alleged drug supply and distribution chain.

The NESCO drug overdose case has drawn significant attention due to the involvement of multiple accused and the alleged links to a wider drug network. Police officials have said that further arrests and revelations may emerge as the investigation progresses.

The Vanrai Police are focusing on establishing the complete chain of events, including the movement of funds, connections between accused persons and the possible role of other individuals associated with the case.

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Crime

12-year-old boy dies after part of neighbour’s house collapses, falls on family in Thane

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Mumbai, July 11: A 12-year-old boy lost his life while two of his family members were injured after a section of a neighbouring building collapsed and fell on their house in Maharashtra’s Thane district, officials said.

The incident took place at around 3:35 p.m. on Friday at Madras Chawl in Azad Nagar, Brahmand, prompting an immediate rescue operation by local authorities and emergency services.

Officials said the affected building was a ground-plus-one-storey structure estimated to be around 25 to 30 years old. Preliminary findings indicate that a portion of the building’s gallery suddenly gave way and crashed onto an adjoining house where members of a family were asleep.

According to NDTV, the deceased has been identified as 12-year-old Jaykumar Jaiswal. He suffered critical injuries in the collapse and was rushed to the Civil Hospital. However, doctors declared him dead on arrival.

Two other family members, Urmila Jaiswal, 35, and Vinit Jaiswal, 9, sustained head injuries in the incident. Both were admitted to Titan Hospital in Manpada, where they are currently undergoing treatment. Their condition is being closely monitored.

Following the collapse, authorities evacuated three neighbouring houses in Madras Chawl as a precautionary measure to prevent any further casualties. Officials said structural inspections and debris-clearing operations are being carried out jointly by the Majiwada Ward Committee, the Public Works Department (PWD), and the Encroachment Department to assess the safety of nearby structures.

Emergency response teams reached the site shortly after receiving information about the collapse. The rescue operation involved two fire engines, a rescue vehicle, a disaster management utility vehicle, and an ambulance. Authorities ensured that the affected area was secured while search and clearance work continued.

The incident comes just days after another fatal house collapse in Mumbai amid heavy rainfall. On July 7, six people were killed and one person was injured after a neighbouring structure collapsed onto their home in Janata Nagar, Mankhurd. The victims belonged to the family of Akhtar Jahan and her husband, labourer Moinuddin Wajid Ali Shah.

According to local residents, the family had become increasingly concerned over the deteriorating condition of the adjoining building and had planned to relocate on Sunday. However, before they could move, the weakened structure collapsed during the spell of heavy rain, resulting in the tragic loss of lives.

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