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The CBI on Friday conducted searches at 11 locations across multiple states after registering a corruption case against former chairman and managing director A K Mirchandani of public sector undertaking PEC Ltd and others for alleged swindling of over Rs 56.98 crore of public money, officials said.

The CBI booked Mirchandani along with other officials of the PSU, Odisha-based Maa Tarini Industries Ltd and its directors Piyush Sengar, Bhupendra Das and Mayank Dhar.

"It was alleged that the accused and others entered into a conspiracy among themselves. In pursuance thereof, they had allegedly cheated & defrauded to usurp the public money to the tune of Rs.56,89,52,416/-(approx) being principal & interest due as on 20.06.2021, in financing for domestic procurement of iron ore and coal to said private company based at district Sundargarh (Odisha) and thereby causing loss to the PEC Limited, New Delhi," CBI spokesperson RC Joshi said.

The other former officials of PEC booked in the case include Rajiv Chaturvedi (ex-chief general manager), D K Gupta (ex-general manager), P K Bhatia (ex-chief marketing manager), S C Rishi (ex-chief marketing manager-finance), Rohit Verma (ex-manager), G Y Dupate (ex-chief marketing manager) and Saurabh Rai (ex-deputy manager).

"Searches were conducted today at the office and residential premises of the accused at 11 places, including in New Delhi, Thane (Maharashtra), Guwahati and Ghaziabad (UP) which led to recovery of incriminating documents/articles," Joshi said.

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