Mumbai: A PIL filed in the Bombay High Court has urged a probe by CBI or an SIT into the alleged bank fraud guarantees accepted by MMRDA from a private company for the construction of a twin tube road tunnel between Thane and Borivali, worth over Rs 16,600 crore.
Petitioner journalist V Ravi Prakash alleged that these bank guarantees were issued on behalf of Megha Engineering Infrastructure Ltd by St Lucia-based Euro Exim Bank, which is not recognised by RBI. The company used them as a tool to obtain advance payments without actually providing a genuine bank guarantee, thereby jeopardising the project and public funds.
On Wednesday, the PIL was mentioned before Chief Justice Alok Aradhe and Justice Bharati Dangre by senior advocate Prashant Bhushan, saying, “It is a huge financial fraud.” They posted the hearing after a week.