The Central Bureau of Investigation (CBI) initiated three distinct cases on May 9, in accordance with directives issued by the High Court of Madhya Pradesh, the agency said in a release on Thursday.

According to the release, these cases involve a significant financial fraud involving an Indore-based company that submitted forged bank guarantees totalling Rs. 183.21 crores to the Madhya Pradesh Jol Nigam Limited (MP.JNL).

In 2023, the company secured three immigration projects in Madhya Pradesh worth a staggering Rs. 974 crores from MPJNL. To support these contracts, eight fake bank guarantees valued at Rs. 183.21 crores were submitted.