**Mumbai: Economic Offences Wing Files Chargesheet in ₹58 Crore NSCI Embezzlement Case**
In a significant 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 several key individuals as accused, including NSCI President Jayantilal Shah, Shailesh Parab of Sateri Consultants and SP Consultants, and Chartered Accountant Manoj Saraf. Statements from over 100 witnesses have been recorded during the investigation.
**FIR and Investigation**
According to EOW officials, the FIR was initially registered at Tardeo Police Station in December 2020 for cheating and forgery, with the fraud estimated at ₹58 crore. However, the EOW’s detailed probe uncovered misappropriation amounting to ₹6.90 crore.
**Modus Operandi**
The investigation revealed that invoices were raised under the pretext of obtaining licenses and NOCs from the Brihanmumbai Municipal Corporation (BMC) and the police for NSCI’s bar and other establishments. This fraudulent activity siphoned off ₹6.90 crore, while the actual expenses for these works amounted to just about ₹13 lakh.
Further probe showed that orders for 108 licenses were placed without any tenders or quotations. Companies linked to Shailesh Parab raised invoices totaling ₹2.56 crore, while Chartered Accountant Manoj Saraf allegedly assisted in fabricating bogus invoices to facilitate the fraud.
**Background of the Case**
The case originated on December 11, 2020, when the Tardeo Police registered an FIR against Jayantilal Shah, Rakesh Malhotra, Sebastian Paul, Bhisham Sahjwani, and others under sections related to cheating and forgery of the Indian Penal Code (IPC). Following the discovery of the large-scale fraud, the case was subsequently transferred to the Economic Offences Wing for further 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