Purna Chandra Rath, Manager of Karamchand Thapar & Brothers (Coal Sales) Ltd’s Paradip branch has been arrested from Kolkata by the Economic Offences Wing (EOW) of the Odisha Crime Branch regarding a Rs. 30 Crore fraud case.
The alleged has been brought to the capital city this morning and been produced before the court.
According to the latest reports, Rath has been sentenced to jail by the judge.
Sources said that Rath had committed a fraud of Rs 30 crore by producing false documents and preparing fake bills and cheques and transferred the money to his personal bank account.
After the company detected the illegal trasactions, it lodged a complaint with the Crime Branch.
Acting on the complaint, the Crime Branch conducted a series of raids and finally arrested Rath from Kolkata.
Prior to this, the Crime Branch had arrested Ramesh Chopra, another staff of the company, on similar charges.
It may be mentioned that KCT Coal Sales is the single largest coal handling agency in India. It deals with all the major public and private sector companies and is responsible for the entire set of logistical operations involved in the movement of approximately 60 million metric tonnes of coal per annum.