Bhubaneswar (SunstarTV Bureau): The Central Bureau of Investigation (CBI) on Friday conducted raid at 11 locations across country in connection with defrauding public money of a Sundargarh-based private company of Rs 56.89 crore.
A case regarding the matter has been registered against CMD of PEC Ltd and other officials of PEC Ltd., the private company and its two directors.
Allegedly, the accused entered into a conspiracy among themselves and defrauded public money to the tune of Rs 56,89,52,416 (approx) being principal and interest due as on 20.06.2021, in financing for domestic procurement of iron ore and coal to the private company, thereby causing loss to the PEC Limited, New Delhi.
Searches were conducted at the office and residential premises of the accused at 11 places, including New Delhi, Thane (Maharashtra), Guwahati and Ghaziabad (UP), which led to the recovery of incriminating documents, CBI sources said.
