CBI Files Charge sheet Against Partner & Proprietor of Two Private Firms & Others for Causing an Alleged Loss of Rs. 36.03 Crore (Approx.) To M/S Pec Ltd (Govt of India Enterprise)

(Judicial Quest News Network)

The Central Bureau of Investigation has filed a Charge Sheet against a partner of a Mumbai based private company, proprietor of another private firm & others in the court of Additional Chief Metropolitan Magistrate, Esplanade, Mumbai on the allegations of causing huge loss to M/s. PEC Ltd (a Govt of India enterprise).

          CBI had registered the instant case on 30.09.2016.  It was alleged that Partner of Mumbai based private company had obtained pre-shipment credit for export of agricultural products from the complainant company M/s. PEC Ltd, (a Government of India enterprise under the Ministry of Commerce).It was further alleged that the said accused entered into a conspiracy with 02 others including Proprietor of another private company, to fraudulently induce M/s. PEC Ltd to release the pre-shipment financing amounts on the basis of forged/ fake trust receipts for agricultural products. The other two accused, had allegedly signed the Tripartite Agreements as Custom House Agent (CHA), without having a CHA License. It was also alleged that they had even allowed the said partner of Mumbai based private company to use their letter head & stamps on some of the TRs which were actually not signed by them. A major part of agricultural products for which the pre-shipment credit was taken, were not exported, leading to non-realization of the export proceeds. Thus, they were able to cheat M/s PEC Ltd to an extent of Rs. 36,03,85,086/- (approx.), which caused loss to the said company of Government of India.

          After investigation, a charge sheet was filed.