CBI Arrests Former BECIL CMD and GM in Rs.3 Crore Bribery and Rs.50 Crore Loan Fraud Case
The Central Bureau of Investigation (CBI) has arrested two former top officials of Broadcast Engineering Consultants India Limited (BECIL) — the former Chairman and Managing Director (CMD), George Kuruvilla, and the former General Manager (GM), W.B. Prasad. These arrests are part of an ongoing investigation into a major bribery and loan fraud case involving ₹3 crore in alleged bribes and a ₹50 crore venture loan that was fraudulently disbursed.
Both former officials were produced before the Special CBI Court in Mumbai. The court has granted police custody of the two arrested public servants for four days, up to April 19, 2025.
Background of the Case
The case is related to a ₹50 crore loan given by BECIL to a private company based in Mumbai — TGBL, whose CEO, Prateek Kanakia, had already been arrested earlier by the CBI on March 24, 2025. After his initial police custody was extended until April 1, he was later sent to judicial custody. However, following the arrests of the former BECIL officials, the court has now sent Kanakia back into police custody until April 19 for further questioning.
Details of the Fraud and Bribery Allegations
According to the CBI, the fraud dates back to 2022. Investigations suggest that George Kuruvilla, then CMD of BECIL, along with other senior officials, allegedly entered into a criminal conspiracy with Prateek Kanakia and others.
Here’s what the CBI has found so far:
- BECIL sanctioned and disbursed a venture loan of ₹50 crore to TGBL, the company run by Prateek Kanakia.
- In return, Kuruvilla and Prasad allegedly received an illegal bribe of ₹3 crore from Kanakia.
- TGBL submitted a fake Performance Bank Guarantee (PBG) worth ₹25 crore as part of the loan process.
- The loan amount was not used for its intended purpose by Kanakia.
- Moreover, TGBL did not return the loan to BECIL.
Huge Loss to BECIL
Because of these actions, BECIL has suffered a financial loss of nearly ₹58 crore, according to the investigation so far. The CBI has said that the investigation is ongoing and more developments may follow.
Previous Case Filing
The CBI had originally filed the case on September 3, 2024, naming multiple accused:
- George Kuruvilla (then CMD, BECIL)
- W.B. Prasad (then GM)
- Ashish Pratap Singh (then Legal Advisor)
- Sudhir Chauhan (then Consultant)
- Prateek Kanakia (CEO & Founder of TGBL, Mumbai)
- Other unknown individuals
The charges include serious criminal offenses under the Indian Penal Code — sections 120-B (criminal conspiracy), 201 (causing disappearance of evidence), 420 (cheating), 467, 468, 471 (related to forgery), and Section 7 of the Prevention of Corruption Act, 1988, which deals with bribery by public officials.
