Jaipur: Police arrested the main accused in a case involving alleged embezzlement of over Rs 46 crore from a state renewable energy body using forged bank guarantees, officials said Wednesday. The accused, identified as Mahesh Bhai (50), a resident of Ahmedabad in Gujarat, was arrested in connection with a case registered at Ashok Nagar police station. Deputy commissioner of police (Jaipur South) Rajarshi Raj Verma said the case was registered on Aug 25, 2025, on the complaint of Vivek Meena, assistant accounts officer at Rajasthan Renewable Energy Corporation Limited (RRECL). According to the complaint, RRECL issued tenders for setting up rooftop solar projects and maintaining them for the next 25 years. Police said the accused companies Teerth Gopicon Ltd, M/s Unicleen Solution LLP and M/s Future Green Power Solutions Pvt Ltd participated in the tenders as consortium partners and were declared successful bidders. Investigators found that five bank guarantees worth Rs 65.67 crore submitted to the RRECL office were fake and forged, officials said. Police said the accused allegedly siphoned off Rs 46.3 crore using the forged guarantees. The amount was deposited into the bank account of Teerth RE-1 Pvt Ltd and later withdrawn and misused. During the investigation, it emerged that the accused was earlier arrested by the Central Bureau of Investigation (CBI) in another case in Bhopal and was lodged in Central Jail, Indore. A police team obtained a production warrant from a court and brought the accused from Indore jail for interrogation in the present case. Officials said the accused allegedly conspired with associates to prepare forged bank guarantees and use them as genuine to obtain funds. The accused was taken on 3-day police remand, and further investigation is under way to identify other persons involved in the alleged fraud, police added.
