Builder Arrested From Nagpur For Submitting Fake Bank Guarantees, ET RealEstate

November 2, 2023

BHOPAL: The Crime Branch police on Wednesday, arrested a contractor that was accused of cheating National Project Construction Co-operative Limited of Rs 10.12 crore.

MA Mansoori, zonal manager at NPCC regional office had filed a complaint against construction firm’s proprietor Nitin Subhash Sharma.

Police found that NPCC and Sharma’s firm entered into a contract on 14 September 2018 for work worth Rs 113.4 crore in ITI Jabalpur, ITI Rewa, ITI Shahdol. The firm had to submit five per cent of contract as Performance Bank Guarantee.

The guarantee submitted by Nitin were found to be fake. The Crime Branch police have booked Nitin under relevant sections including fraud and arrested him from Somarwada, Nagpur.

  • Published On Nov 2, 2023 at 11:00 AM IST

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Abhay Singh

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