Overview
- The EOW said it arrested CFO Ashok Kumar Pal with Partha Sarathi Biswal and Amarnath Dutta on April 15, and they are in police custody until April 23.
- The case stems from a June 24, 2025 FIR by SECI manager Biblesh Meena that alleged two forged guarantees of ₹68.20 crore each.
- Police say the guarantees were shown as issued by ACE Investment Bank in Malaysia and FirstRand Bank in Manila, with fake emails and SFMS confirmations that SBI later denied.
- SFMS is a banking message system used to validate guarantees in India, so a forged SFMS note can make a fake guarantee look real.
- An EOW team led by Inspector Laxman Kumar and Sub-Inspector Ghanshyam tracked the financial and communication trail to the accused, and investigators say they are working to identify others.