The Indian Railways has barred for two years Jakson Ventures Private Ltd (JVPL), one of the largest and oldest suppliers of diesel generators in the country. Jakson is the authorised dealer for US-headquartered diesel genset maker Cummins Inc.
Government officials aware of the development said JVPL had forged documents certifying earnest money deposit (EMD) as bank guarantee in a bid called by Central Periodical Overhauling (CPOH) Workshop of the Indian Railways in Prayagraj.
Responding to queries, Jakson Group said JVPL is an independent legal entity, which has filed a writ petition in the Allahabad High Court against the Railway Board order.
“Penal action has already been taken against the erring employee in December 2022 who had misappropriated ₹ 5.47 lakh and maligned the name of JVPL,” the company said.