Ghatkopar Exporter Booked For Rs 6.43 Crore Fake Bank Guarantee

The Pantnagar police have registered an FIR against the proprietor of a Ghatkopar-based company for allegedly submitting a forged bank guarantee worth Rs 6.43 crore to the Agricultural and Processed Food Products Export Development Authority (APEDA).

The accused, Rajesh Tulsidas Nakhua, is the proprietor of Make India Impex, located on 90 Feet Road, Ghatkopar East. According to the FIR, the company allegedly obtained an allocation to export 8,584 metric tonnes of sugar to the US but failed to carry out the export.

The alleged use of a forged bank guarantee resulted in an attempted financial loss to the government and affected the sugar export process. The complainant, Prashant Pramod Waghmare, 53, is a Deputy General Manager with APEDA and is posted at its Vashi, Navi Mumbai office.

APEDA functions under the Ministry of Commerce and Industry and promotes the export of agricultural and processed food products. Companies seeking to export agricultural products must obtain APEDA's Registration-cum-Membership Certificate (RCMC), along with an Import Export Code (IEC) issued by the Directorate General of Foreign Trade (DGFT) and other required licences.

For products subject to country-specific quotas, APEDA conducts a tender process among eligible exporters. In this case, the US had allocated a tariff-rate quota of 8,606 metric tonnes for sugar imports from India for the November 2024 to September 2025 period. APEDA invited bids on October 3, 2024.

Make India Impex submitted a bid to export 8,584 metric tonnes at $1,780 per metric tonne. Along with its tender, the company allegedly submitted a bank guarantee of Rs 6.43 crore purportedly issued by the Bank of Maharashtra, Badlapur branch, valid for 12 months until October 10, 2025.

The document allegedly carried the signature and seal of then-branch officials and was submitted to APEDA in original along with other documents. As the company had quoted the highest rate, it was awarded the tender. APEDA subsequently issued a Registration-cum-Allocation Certificate (RCAC) on November 8, 2024, authorising the company to export 8,584 metric tonnes of sugar to the US.

However, the company allegedly failed to submit the required export report within the stipulated period. APEDA sought details in April 2025. The company reportedly informed the authority that 8,606 metric tonnes of sugar would be shipped from Kandla port to the US on May 28, 2025. However, APEDA later found that the company had not applied for the required Certificate of Quota Eligibility.

The case has significant implications for the export industry in India, highlighting the need for stricter regulations and monitoring to prevent such fraudulent activities. The incident also raises concerns about the potential financial losses to the government and the impact on the sugar export process.

In conclusion, the booking of the Ghatkopar-based exporter for allegedly submitting a fake bank guarantee is a serious matter that warrants further investigation. The case serves as a reminder of the importance of ensuring the integrity of the export process and preventing fraudulent activities that can have far-reaching consequences.