Mumbai: EOW Files Chargesheet in NSCI Case; ₹6.5 Crore Fraud Exposed Against Three Accused

The Economic Offences Wing (EOW) has filed a chargesheet in connection with the NSCI case, highlighting discrepancies worth ₹6.5 crore. Three individuals — Jayantilal Shah, Shailesh Parab and Manoj Saraf — have been named as accused.

In 2020, Tardeo Police registered a case against Jayantilal Shah and others under provisions of the Indian Penal Code for cheating and falsification of accounts in the NSCI matter.

During the investigation, it was revealed that Shah allegedly showed an expenditure of ₹6.5 crore for obtaining 108 licences. However, the actual cost for acquiring the licences was only between ₹10 to 12 lakh, raising strong suspicion of fraud.

Further probe uncovered that the company in question did not even exist, yet the accused managed to receive huge sums under the guise of licence expenses. While several allegations were examined, the chargesheet has been restricted to four major counts of fraud and related offences.

On 2 September, the EOW filed the chargesheet, accusing the three of cheating, falsification of transactions and violation of other legal provisions.

The case has brought to light serious irregularities between the actual expenditure and the inflated figures shown for licence procurement. With the filing of the chargesheet, the matter has now moved to the legal stage, and hearings are underway in court.