CBI sleuths begin probe against former ED of BHEL

The Madurai unit of the CBI registered an FIR against K Manickam, the former executive director of BHEL, who had started Hitech Cranes after retiring from the PSU. His partner P Maragatham is also named in the FIR.

According to the FIR, Hitech Cranes availed loans from Canara Bank’s branch in Thuvakudi, Tiruchy, by requesting additional bill discounting facility against supply bills from BHEL in 2015. To support the claim, the partners even prepared a forged letter, purported to be addressed to Hitech Cranes by assistant general manager (purchase) BHEL.

But on verification by the bank, the BHEL management noted that the letters and invoice were not issued by it. The bills were found to be issued against some other firms.

Manickam, who was former senior executive of BHEL, allegedly misused his office to create fake invoices and purchase orders, and fake letter from BHEL and committed the fraud. The investigation is also on to find out if any bank officials were involved in it.