1 week ago
Mumbai Firm Booked Over Allegedly Fake Sugar Export Guarantee
A Mumbai company wanted permission to export sugar to the United States.
To compete for the permission, it allegedly gave officials a bank guarantee worth ₹6.43 crore.
The guarantee was supposed to show that the company could meet its obligations.
The company won permission to export 8,584 metric tonnes of sugar.
However, it did not complete the export and reportedly did not have a required certificate.
The company later asked for the permission to be cancelled and the guarantee returned.
Officials refused and tried to use the guarantee.
The bank then said it had never issued the guarantee.
Police have now registered a case against the company’s proprietor.
Pantnagar police registered an FIR against Rajesh Tulsidas Nakhua, proprietor of Make India Impex.
The company allegedly submitted a forged ₹6.43 crore Bank of Maharashtra guarantee to APEDA.
Make India Impex secured a quota to export 8,584 metric tonnes of sugar to the United States.
The company allegedly failed to complete the export and lacked the required quota eligibility certificate.
The bank reportedly told APEDA on August 21, 2025, that it had not issued the guarantee.
- Who
- Pantnagar police have booked Rajesh Tulsidas Nakhua, proprietor of Ghatkopar-based Make India Impex, following a complaint by APEDA Deputy General Manager Prashant Pramod Waghmare.
- What
- The company is accused of submitting a forged ₹6.43 crore bank guarantee to secure a sugar export quota.
- Where
- The company is based in Ghatkopar, Mumbai, and the complaint was filed at Pantnagar police station.
- When
- The quota period ran from November 2024 to September 2025; the bank denied issuing the guarantee on August 21, 2025, and the FIR was subsequently registered.
- Why
- The alleged guarantee was submitted to obtain a quota to export sugar to the United States; the company later failed to execute the export.
Key facts
- Accused
- Rajesh Tulsidas Nakhua, proprietor of Make India Impex
- Alleged forged guarantee
- ₹6.43 crore
- Export quota won
- 8,584 metric tonnes of sugar
- Destination
- United States
- Export price bid
- $1,780 per metric tonne
- Quota period
- November 2024 to September 2025
- Issuing bank named in guarantee
- Bank of Maharashtra, Badlapur branch
- Police station
- Pantnagar police station
Sources
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