Watch: FIR against Birla Shloka Edutech Ltd for allegedly providing fake guarantees to 7 banks

The Lucknow Police registered a FIR against Birla Shloka Edutech Ltd, a Yash Birla Group company, on Thursday for allegedly providing fake bank guarantees to seven banks.

The FIR has been filed against company's managing director Ashish Mahendrakar, CA Vineet Tripathi. UP Additional Director-General of Police (Law and Order) Daljit Singh Chaudhary on Thursday said that probe would be done on banks who gave the guarantee and also on the bank employees. He further said that strict action would be initiated against those found guilty in the case.   

Documents accessed by News Nation reveal that the company  indulged in a scam to the tune of Rs 2,82,71,000 for providing bank guarantees. 

In order to fetch tenders to provide computer hardware and software to 1608 schools under government's Information and Communication Technology (ICT) scheme, the company infringed with the guarantees papers and prepared fake documents from City Union Bank's Coimbatore branch.