The record
Written from the 1 report below. Nothing here is unsourced.
- The CBI has registered a case against two Nokia Solutions and Networks India employees, Vaibhav Verma and Kamaraju Mutyala, for allegedly diverting Rs 19.33 crore of Employees' Provident Fund money into 94 fake employee accounts between 2023 and 2024.
- The fraud allegedly occurred around the time Nokia moved from an exempted to an unexempted EPFO establishment after surrendering its exemption in September 2023, and the named employees were identified through a forensic audit the company conducted.
- Nokia suspended the two employees, informed EPFO, and based on EPFO's complaint the CBI filed an FIR under the BNS, Prevention of Corruption Act and IT Act, also naming unknown government servants and private individuals.
- The matter matters because it involves workers' retirement savings and has prompted an active CBI investigation, with the company saying it is cooperating fully.
What to watch next
- Findings of the CBI investigation and any further legal action against the accused
- Whether the unidentified government servants and private individuals in the FIR are named
- Recovery of the diverted Rs 19.33 crore from the 94 fake accounts
Coverage1
1 report
Indian-language1
All filed from India
Named India · Employees' Provident Fund Organization · Nokia Solutions and Networks India Private Limited · Central Bureau of Investigation · Kamaraju Muthyalam · Vaibhav Varma
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