Bhopal Fake Bank Guarantee Scam: CBI Arrests Two Including Nationalised Bank Manager In Fake Bank Guarantee Scam

Bhopal (Madhya Pradesh): The CBI has arrested two persons including a senior manager of a nationalised bank in connection with  Rs 183.21 crore fake bank guarantee scam linked to irritation projects of Madhya Pradesh Jal Nigam Limited (MPJNL), officials said on Friday.

The CBI carried out extensive searches at 23 locations across five states—New Delhi, West Bengal, Gujarat, Jharkhand, and Madhya Pradesh—on Thursday and Friday, which led to the arrest of two persons from Kolkata, including a senior bank manager.

The agency confirmed the arrest of two key accused Govind Chandra Hansda, a senior manager of nationalised bank and Mohd Firoz Khan. The duo are believed to have played central roles in the fraudulent operation.

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The arrested individuals were produced before the local court in Kolkata on Friday and will be brought to Indore on a transit remand.

The scam came to light following a directive from the High Court, prompting the CBI to register three separate cases on May 9 this year. Investigations revealed that Indore-based company Teerth Gopicon Limited had submitted eight forged bank guarantees to secure government contracts. 

The company had secured three irrigation projects in 2023 in the state worth Rs 974 crore from MPJNL. To support these contracts, eight fake bank guarantees valued at Rs 183.21 crores were submitted.

During the initial verification, MPJNL received forged email responses impersonating the official domain of a nationalised bank, falsely confirming the authenticity of the bank guarantees. Relying on these confirmations, MPJNL awarded three contracts to the firm.

The investigation so far has revealed that a Kolkata-based syndicate has been systematically fabricating and circulating fake bank guarantees to secure government contracts across multiple states.