Suppl chargesheet against 11 industrialists in ICD scam

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Bhopal, Jun 24 (UNI) The Madhya Pradesh Economic Offences' Wing (EOW) has submitted a supplementary chargesheet against 11 industrialists of Indore in connection with the Rs 750 crore loan scam under the Inter-Corporate Deposits (ICD) scheme of the State Industrial Development Corporation (MPSIDC).

A supplementary chargesheet was presented in the Court of Additional Sessions Judge R K Bhave against the 11 directors of seven companies for misappropriating Rs 110.10 crore yesterday.

The Court granted bail to six accused on a bond of Rs 10,000 each. The next hearing to decide about bail of five other accused is likely to take place on June 28.

The EOW presented a chargesheet and a supplementary chargesheet -- related to financial bungling to the tune of Rs 6.50 crore -- against seven accused on September 24, 2007.

The EOW had registered a case of fraud and under other sections against then MPSIDC Chairman Rajendra Kumar Singh on August 6, 2004. The case is related to the distribution of Rs 750 crore among 42 companies under the ICD scheme.


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