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Synopsis

The Central Bureau of Investigation (CBI) has launched a probe into an alleged bribery scheme involving a legal firm that reportedly sought Rs.1 crore to secure a favourable order from the National Company Law Tribunal (NCLT), Mumbai. As part of its investigation, the CBI, on Monday, conducted searches at the premises of a retired NCLT official, who is currently working as a private consultant.

The case stems from a complaint filed by Vinay Saraf, Director of M/s Micro Capital Pvt Ltd, who alleged that delays in an insolvency proceeding involving M/s KSS Ltd led to an illegal demand for payment in exchange for expediting the tribunal’s decision.

According to the FIR registered by the CBI, the accused—Mahwsh A Bhat (alias Mahi Bhat) of AU Corporate Advisory and Legal Services and her associate Akshat Khetan—initially demanded ₹1.5 crore, which was later negotiated down to ₹1 crore. The firm allegedly used the term “fees” as a coded reference to the bribe during negotiations.

Subsequent investigations revealed that the firm had initially insisted on a 50% advance payment, which was later reduced to 20%. Following negotiations, an advance payment of ₹20 lakh was deposited into the firm’s HDFC Bank account, with the remaining amount to be paid in cash. However, the complainant, suspecting corruption, alerted the CBI, which then verified the claims and initiated a formal case.

Upon confirming the allegations, the CBI registered a case under the Prevention of Corruption Act, 1988 (as amended in 2018), along with relevant sections of the Indian Penal Code (IPC). CBI monitored the accused’s movements and seized electronic evidence, including mobile phone records that allegedly contained incriminating conversations about the bribery deal.

The tribunal had concluded hearings in the case last year and reserved its order in August 2024, but the final decision is still pending. The CBI is investigating whether any serving or former NCLT officials were complicit in the scheme. On March 10, 2025, the CBI conducted searches at multiple locations, including the premises of the retired NCLT official who is believed to have played an advisory role in the matter. His exact involvement is under investigation.

The agency has booked the proprietor of the legal firm and his employee, along with unknown public servants and private individuals, under charges of criminal conspiracy and attempting to manipulate judicial proceedings through corrupt means.

Inspector Seema Randive of the CBI Anti-Corruption Branch is leading the investigation. Authorities are currently scrutinizing financial transactions, call logs, and other digital evidence to determine the extent of the alleged conspiracy.

The CBI has not ruled out the involvement of additional individuals, including public officials, and the matter remains under active investigation.