The CBI has booked ex-chairman-cum-managing director of PEC, AK Mirchandani, and its several serving and former officials, along with two private companies, for allegedly cheating the PSU under the Commerce Ministry of ₹531 crore, officials said today.
The agency has booked Pisces Exim (I) Pvt Ltd and Jet Link Infotech Pvt Ltd, their officials along with officials of PEC on charges including criminal conspiracy and corruption, they said. PEC had entered into 15 agreements between 2010-12 with Pisces Exim Ltd for export of iron ore to a foreign buyer for which funds were released by it, they said.
In its complaint, PEC has claimed that Pisces Exim allegedly defaulted on its agreement, they said.
Not only it failed to supply iron ore, as required, but also failed to refund the amount paid to it by PEC, they said.
“A sum of ₹531.72 crore (including the interest up to September 30, 2016) is due and payable to PEC along with interest till realisation. Importantly, the said monies due are public money,” the PEC has alleged in its complaint, now a part of the FIR.
The agency has booked 15 persons and companies in this connection.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.