New Delhi, May 29: The Central Bureau of Investigation (CBI) has arrested two accused, including an Office Assistant/ Verification Officer working at Passport Seva Kendra (PSK), Lower Parel in Mumbai and an agent in a case related to issuing passports based on fake documents in lieu of a bribe.

The CBI registered a case against the Office Assistant/VO, PSK, Lower Parel, Mumbai and other private persons working as passport agents.

According to a statement issued by the CBI’s office in Delhi, during the years 2023-2024, the said accused officer entered into a criminal conspiracy with other private persons. In furtherance of the said criminal conspiracy, he was obtaining an undue advantage by doing passport-related work.

Along with the agent and other unknown persons, the accused official issued fake passports to applicants based on forged documents.

It was further revealed that seven unknown persons purporting as applicants had submitted forged documents such as Aadhaar card copy, Pan card copy, Bank Account Statement and Birth Certificates as their address and identity proofs to the Passport Office.

During the investigation, all the documents provided were found to be forged.

Further, chats between the accused public servant and the agent revealed discussion about the payment of undue advantage from these fake passport applicants.

The CBI press note said that the investigation also revealed that mobile numbers provided by applicants in the passport applications were not in service.

The ‘Police Verification’ was carried out after issuance of those passports under the Tatkaal Scheme (earlier waived during the issuance of passports), and the findings were adverse, as the addresses provided on the passport applications were fake.

“As the accused were evasive and did not cooperate during the investigation, both were arrested,” the press note mentioned.

The two accused were produced before the Special CBI Court, Mumbai and were sent to police custody for five days till June 2.

The CBI said that the investigation is continuing in the case.

Central Bureau of Investigation (CBI) has arrested two accused including Office Assistant/ Verification Officer working at Passport Seva Kendra (PSK), Lower Parel Mumbai and an agent (private person) in a case related to issuing passports based on fake documents in lieu of bribe.

A case was registered by CBI against Office Assistant/VO, PSK, Lower Parel, Mumbai and other private persons working as passport agents. It was alleged in FIR that during the years 2023-2024, said accused public servant entered a criminal conspiracy with other private persons and in furtherance of the said criminal conspiracy, he has been obtaining undue advantage for doing passport related work.

In furtherance of the conspiracy with agent (private person) and other unknown persons, accused public servant has got issued fake passports of unknown applicants based on forged documents.

It was further revealed that unknown seven persons purporting as applicants had submitted forged documents such as Aadhar card copy, Pan card copy, Bank Account Statement and Birth Certificates as their address and identity proofs, in the Passport Office. During investigation, all the documents provided by them have also been found to be forged.

Further, communications chats between accused public servant and agent (private person) revealed discussion about payment of undue advantage concerning these fake passport applicants.

Investigation also revealed that mobile numbers provided by applicants in the passport applications are not in service. The Police Verification reports carried out after issuance of those passports under Tatkaal Scheme (which were earlier waived of during issuance of passports) have been found to be adverse, as addresses given on passport applications were fake.

As accused were evasive and did not cooperate during investigation. Both the accused were arrested. They were produced before Special CBI Court, Mumbai and have been sent to police custody for 05 days i.e. till 02.6.2025.

Investigation is continuing.

New Delhi, May 28: The Supreme Court on Wednesday upheld the delisting of ICICI Securities from the stock exchanges, rejecting a plea by an individual investor who challenged the share valuation process as being unfair.

The investor, Manu Rishi Gupta, had questioned the delisting on the ground that a reverse book building mechanism might have resulted in a better price for shareholders.

ICICI Securities was delisted in March last year, and it became a wholly-owned subsidiary of ICICI Bank.

Gupta’s counsel contended in the apex court that the delisting of ICICI Securities was done in an opaque and rushed manner and termed it “shocking”.

The counsel for ICICI Securities informed the Supreme Court that Gupta continued to indulge in buying and selling of shares of ICICI Securities, including as recently as August 2024 which undermined his claims of unfair treatment.

Nearly 72 per cent of shareholder votes were cast in favour of the scheme of arrangement for the merger of ICICI Securities with its promoter ICICI Bank, the private sector lender had stated in a regulatory filing with the stock exchanges.

The voting was conducted after a National Company Law Tribunal (NCLT) directive in February 2024, which mandated a shareholder meeting to approve the plan. The meeting was attended by 161 equity shareholders including authorised representatives.

Earlier, in March this year, the National Compay Law Apellate Tribunal (NCLAT) had upheld the delisting of ICICI Securities Ltd from the stock exchanges, dismissing the pleas filed by shareholders Quantum Mutual Fund and individual investor Manu Rishi Gupta against the move.

Quantum Mutual Fund had approached NCLAT in September to oppose ICICI Securities’ delisting, citing concerns over its impact on minority shareholders. Earlier, the Ahmedabad bench of the National Company Law Tribunal (NCLT) had approved the delisting, dismissing the fund’s objections.

ICICI Securities in June 2023 announced its plan to delist and merge with its parent company, ICICI Bank Ltd. Shareholders approved the plan in March 2024. As part of the delisting, Under the proposed share-swap arrangement, shareholders were to receive 67 shares of ICICI Bank for every 100 shares of ICICI Securities.