Mumbai: The Central Bureau of Investigation (CBI) has registered a case against the proprietor and an employee of a corporate advisory and legal services firm in a corruption related matter. The accused had allegedly accepted a bribe from a businessman to influence the National Company Law Tribunal (NCLT), Mumbai, to secure a favourable order for the businessman’s firm in an NCLT proceeding.

The CBI has registered an FIR accused are A. Khetan, proprietor of M/s AU Corporate Advisory and Legal Services (Nariman Point) and an employee of the said firm, M.A. Bhat.

According to the CBI, a written complaint dated 27.01.2025 was received from the Director of a private company. A verification into the allegations made in the complaint had revealed that complainant's company had submitted a successful resolution application last year before a NCLT (Mumbai) bench, which had a member (technical) and member (judicial), after the completion of a Corporate Insolvency Resolution Process (CIRP) proceedings against another firm under a Resolution Professional. The NCLT reserved its order 29.08.2024. However, no order has been passed to date.

"Bhat contacted the complainant and said that she is having close proximity with Member (Judicial) NCLT Mumbai and can get a favorable decision in the matter in the favour of the complainant's company, in lieu of monetary consideration. Bhat demanded brIbe to the tune of Rs 1.5 crore to influence the members of NCLT Mumbai to expedite the process and get the judgment delivered on desired date at the earliest in his favour. After negotiations the bribe amount was reduced to Rs. 1 crore. Bhat has sometimes referred to the demanded bribe as "Fees" in code word. However, the complainant clarified that their company never hired Bhat to represent before NCLT or any other forum in the matter," the CBI stated in its FIR.

"Verification also revealed that Bhat initially demanded a 50% advance of bribe money for which the complainant expressed his inability. Later, after negotiation, Bhat and Khetan reduced it to 30 %, and finally agreed to accept 20 % of demanded bribe i.e. Rs. 20 lakh as advance. On the direction of Bhat, the complainant deposited Rs 20 lakh as advance payment of bribe on 04-02-2025 in the bank account details of which was provided by Bhat. Verification also revealed that Bhat and Khetan directed the complainant to pay the remaining bribe amount of Rs. 80 lakhs in cash on the day of final order after pronouncement of order in favour of the complainant. They also informed that it will be pronounced before 14.02.2025," the FIR further stated.

Akshat Khetan in a Statement said, ''I categorically deny the allegations and firmly assert that I have been wrongly implicated in this matter. Both my firm and I have always upheld the highest ethical standards and I remain fully committed to cooperating with the investigating agency. We trust that the due process of law will bring the truth to light. Additionally, I clarify that Mahvesh Bhatt @Mahi is not an employee of AU Corporate Advisory and Legal Services.''