IT Exclusive
A pharmaceutical company, Medisphere Marketing Ltd., has been implicated in a significant financial scandal in Manipur, involving the alleged submission of fabricated bank guarantees to secure government contracts under the National Rural Health Mission (NRHM). Despite serious allegations, Medisphere Marketing Ltd. reportedly continues to engage in business with the state government, raising concerns about oversight and the integrity of financial protocols.
Background: The NRHM Contract and Payment Terms
On February 25, 2012, the State Health Society under the NRHM in Manipur placed an order with Medisphere Marketing Ltd. for 16,372 units of Mamagi Khudol Kits, valued at approximately Rs. 84.15 lakh. The order, sanctioned by the then State Mission Director Mr. Devesh Deval, IAS, included an initial advance payment of Rs. 42 lakh against a bank guarantee. This guarantee was meant to ensure that Medisphere fulfilled its contractual obligations and supplied the kits as stipulated.
Questionable Financial Documents and Guarantees
A memorandum of understanding (MoU) was signed between the NRHM Manipur and Medisphere Marketing Ltd. on March 29, 2012, outlining that the company was required to submit a performance security deposit equivalent to 5% of the contract value. Medisphere Marketing Ltd. submitted two bank guarantees as part of the agreement: (a) Bank Guarantee No. 011236808, valued at Rs. 4,20,760, dated February 4, 2012, and (b) Bank Guarantee No. 011234597, an extension valued at Rs. 40 lakh, dated May 8, 2012, reportedly issued by the J&K Bank branch in Greater Kailash, New Delhi.
However, following a complaint from another company, M/s. Lord Fincap Ltd., concerning potential fraud involving Medisphere Marketing Ltd., Delhi Police launched an investigation. An FIR (No. 179/2012) was filed at the Greater Kailash-I Police Station under sections 420, 468, 471, and 34 of the IPC against Medisphere’s directors, including Rajan Bajaj and his two sons. These charges relate to cheating, forgery, and the use of fraudulent documents.
The Investigation and Verification of Bank Guarantees
Subsequent inquiries into the bank guarantees revealed shocking irregularities. The Investigation Officer, SI Anish Sharma, corresponded with J&K Bank to confirm the validity of the guarantees submitted by Medisphere Marketing Ltd. J&K Bank responded with two letters, dated December 10, 2012, and January 10, 2013, declaring that the bank had not issued the guarantees in question. Furthermore, the current account associated with Medisphere at J&K Bank had been closed as early as March 12, 2009—three years before the guarantees were supposedly issued.
The forensic analysis of the documents, as per the Forensic Science Laboratory (FSL) report, further corroborated the fraud. The report indicated that the signatures and stamps on the bank guarantees were digitally manipulated, with the bank’s seal and official signatures apparently superimposed and scanned onto the forged documents.
Lack of Verification Protocols and Continued Engagement
The investigation exposed a concerning gap in the State Health Society’s protocol: no system was in place to verify the authenticity of bank guarantees submitted by contractors. Despite these findings, neither the State Health Society nor the government of Manipur has taken any discernible action against Medisphere Marketing Ltd. The company continues to operate, suggesting a possibility of ongoing business dealings with the Manipur government.
Ongoing Concerns and Calls for Accountability
The case has highlighted urgent questions about governance, accountability, and financial oversight in Manipur’s public procurement processes. The absence of punitive action, despite documented fraud, has raised public apprehension that Medisphere Marketing Ltd. may still be indirectly or directly engaged in government contracts.