Maytas Infra has filed a criminal case against Vedanta Aluminium and eight of its employees in a city court.

The case filed under Sections 120-B, 403, 406 and 420 of the Indian Penal Code accuses Vedanta of resorting to criminal breach of trust, cheating and criminal conspiracy and fraudulently encashing bank guarantees provided by Maytas to the tune of Rs 47 crore. “The said bank guarantees were submitted as mobilisation advance and performance guarantees, which were encashed without terminating the contract,” Maytas said.

K V Ramana/ DNA-Daily News & Analysis Source: 3D Syndication