Ghatkopar Exporter Booked For Allegedly Submitting Fake Rs 6.43 Crore Bank Guarantee

Mumbai: The Pantnagar police have registered an FIR against the proprietor of a Ghatkopar-based company for allegedly submitting a forged bank guarantee worth Rs6.43 crore to the Agricultural and Processed Food Products Export Development Authority (APEDA) to secure a sugar export quota for the United States.

Make India Impex Owner Named In Alleged Forgery Case

The accused has been identified as Rajesh Tulsidas Nakhua, 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 complaint states.

The complainant, Prashant Pramod Waghmare, 53, is a Deputy General Manager with APEDA and is posted at its Vashi, Navi Mumbai office. He lodged the complaint at the Pantnagar police station on the basis of an authority letter issued by APEDA. The agency functions under the Ministry of Commerce and Industry and promotes the export of agricultural and processed food products.

APEDA Official Files Complaint Based On Agency Authorisation

As per the FIR, 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.

Company Bid For US Sugar Export Quota In 2024

For the November 2024 to September 2025 period, the US had allocated a tariff-rate quota of 8,606 metric tonnes for sugar imports from India. 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 Rs6.43 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.

In July 2025, Nakhua reportedly requested cancellation of the quota and return of the bank guarantee, citing a sharp fall in sugar prices and cancellation of an agreement by a US buyer following an increase in US tariffs. APEDA rejected the request and decided to cancel the RCAC and invoke the bank guarantee.

Company Approaches Bombay High Court Over APEDA Action

The company subsequently sought an extension to find another US buyer and also approached the Bombay High Court seeking a stay on APEDA's decision and an extension of the quota period. The petition had not been listed for hearing, according to the FIR.

APEDA Claims Document Was Forged After Bank Response

Meanwhile, APEDA contacted the Bank of Maharashtra's Badlapur branch to invoke the Rs6.43 crore guarantee. On August 21, 2025, the bank allegedly informed APEDA that the guarantee had not been issued by its branch. The bank also stated that the official whose signature appeared on the document had been transferred from the Badlapur branch in July 2020 and that no such guarantee existed in its records.

Following the bank's response, APEDA concluded that the guarantee submitted by Make India Impex was allegedly forged and approached the Pantnagar police. A case has now been registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), and further investigation is underway.

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