eMudhra Limited has announced that the Economic Offence Wing (EOW), Navi Mumbai Police Commissionerate, has closed the complaint filed by 3i Infotech Limited. The EOW concluded that the matter raised in the complaint is not criminal in nature, characterizing it as a civil dispute. This decision follows a preliminary inquiry and a request for clarifications and evidence from eMudhra’s legal team, significantly mitigating potential legal and financial repercussions for the company.
Criminal Allegations Against eMudhra Closed
eMudhra Limited has received a significant update regarding allegations previously filed by 3i Infotech Limited. The Economic Offence Wing (EOW) of the Navi Mumbai Police Commissionerate has officially closed the complaint. This closure comes after a preliminary inquiry and a review of clarifications and evidence submitted by eMudhra. The company had initially been accused of financial fraud, criminal breach of trust, cheating, and criminal conspiracy in connection with the disinvestment of 3i Consumer Services Limited.
EOW Declares Matter a Civil Dispute
In their findings, the EOW stated that the allegations raised in the complaint are not criminal in nature. They have characterized the matter as a civil dispute, which should be pursued through appropriate legal authorities. This outcome is a substantial development for eMudhra, as it significantly reduces the company’s exposure to criminal charges and associated legal liabilities. eMudhra’s legal counsel had previously indicated that the allegations were without merit and barred by limitation.
This development provides clarity and relief to the company and its stakeholders, as the substantial legal risk previously associated with the complaint has been effectively neutralized.
Source: BSE
