Mumbai News: EOW Files 10,526-Page Chargesheet In ₹58 Crore NSCI Embezzlement Case; President, Consultants Named As Accused
**Mumbai: EOW Files Chargesheet in ₹58 Crore NSCI Embezzlement Case**
In a major development, the Economic Offences Wing (EOW) has filed a comprehensive 10,526-page chargesheet in the alleged ₹58 crore embezzlement case involving the National Sports Club of India (NSCI).
The chargesheet names NSCI President Jayantilal Shah, Shailesh Parab of Sateri Consultants and SP Consultants, and Chartered Accountant Manoj Saraf as the accused. Statements of over 100 witnesses have been recorded during the investigation.
### FIR and Investigation
According to EOW officials, the FIR was originally registered at Tardeo Police Station in December 2020 for cheating and forgery, with the fraud initially pegged at ₹58 crore. However, the EOW’s detailed probe has revealed misappropriation amounting to ₹6.90 crore.
### Modus Operandi
The investigation uncovered that invoices were raised under the pretext of obtaining licenses and No Objection Certificates (NOCs) from the Brihanmumbai Municipal Corporation (BMC) and the police for NSCI’s bar and other establishments. Through this method, approximately ₹6.90 crore was siphoned off, despite the actual expenses for these works being only about ₹13 lakh.
Furthermore, investigators found that orders for 108 licenses were placed without following proper tendering or quotation procedures. Companies linked to Shailesh Parab raised invoices amounting to ₹2.56 crore, while Chartered Accountant Manoj Saraf is alleged to have helped fabricate bogus invoices to facilitate the fraud.
### Background of the Case
The case dates back to December 11, 2020, when the Tardeo Police registered an FIR against Jayantilal Shah, Rakesh Malhotra, Sebastian Paul, Bhisham Sahjwani, and others on charges of cheating and forgery under the Indian Penal Code (IPC). As the scale of the alleged fraud surfaced, the case was transferred to the EOW for a more detailed investigation.
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https://www.freepressjournal.in/mumbai/mumbai-news-eow-files-10526-page-chargesheet-in-58-crore-nsci-embezzlement-case-president-consultants-named-as-accused
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