Overview

• The CBI registered three cases on May 9 after a Madhya Pradesh High Court order to probe Teerth Gopicon Limited’s forged guarantees
• Eight counterfeit PNB guarantees worth ₹183.21 crore were submitted to MPJNL to win three irrigation contracts valued at ₹974 crore in 2023
• Barragency findings show MPJNL was misled by fraudulent email confirmations impersonating Punjab National Bank’s official domain
• Govind Chandra Hansda, a senior PNB manager, and Mohammed Firoz Khan were arrested following searches at 23 locations across Delhi, West Bengal, Gujarat, Jharkhand, and Madhya Pradesh
• Investigators say further detentions are likely as the inquiry uncovers more links to the interstate forgery ring