Mumbai: In a major development, the Economic Offences Wing (EOW) has filed a 10,526-page chargesheet in the alleged ₹58 crore embezzlement case involving the National Sports Club of India (NSCI). The chargesheet names NSCI President Jayantilal Shah, Shailesh Parab of Sateri Consultants and SP Consultants, and Chartered Accountant Manoj Saraf as accused. Statements of over 100 witnesses have been recorded.
FIR and Investigation
According to EOW officials, the FIR was originally registered at Tardeo Police Station in December 2020 for cheating and forgery, pegging the fraud at ₹58 crore. However, the EOW investigation has revealed misappropriation worth ₹6.90 crore.
Modus Operandi
The probe found that invoices were raised in the name of obtaining licenses and NOCs from BMC and the police for NSCI’s bar and other establishments, siphoning off ₹6.90 crore. Shockingly, the actual expenses for these works were only about ₹13 lakh.
Investigators discovered that orders for 108 licenses were placed without tenders or quotations. Companies linked to Shailesh Parab raised invoices amounting to ₹2.56 crore, while CA Manoj Saraf allegedly helped fabricate bogus invoices to facilitate the fraud.
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Background of the Case
The case dates back to December 11, 2020, when Tardeo Police registered an FIR against Jayantilal Shah, Rakesh Malhotra, Sebastian Paul, Bhisham Sahjwani, and others under cheating and forgery sections of the IPC. The case was later transferred to the EOW after the scale of fraud came to light.
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