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Grant Thornton India LLP (GT), the forensic auditor of IL&FS Engineering and Construction Co Ltd (IECCL), has found instances of potential bogus purchase transactions, and anomalies pertaining to sub-contractors in the company s Pune-Solapur Road project. IECCL was doing this project for its sister concern IL&FS Transportation Networks (ITNL).
Poddar Enterprises and Jagdamba Traders were steel vendors for the Pune-Solapur Road project. GT says, We identified an email dated 29 December 2010, which was sent by Rajesh Sunkaraveera to Naresh Penumetcha, both from IECCL, with regard to the purchase of steel from Poddar Enterprises and Jagdamba Traders where it was mentioned that inward receipt notes (IRN) were generated against the purchase order (PO) amounting to Rs1.64 crore. However, actual material or steel was not received at the site.