Dynamite News Court orders ideaForge executives to furnish surety bonds
IdeaForge Technology Limited, along with its top executives appeared before the XI Metropolitan Magistrate Court in Saidapet on Tuesday. Read further on Dynamite News:
Chennai: The Saidapet Metropolitan Magistrate Court has directed the ideaForge to furnish surety bonds to ensure their presence in future proceedings and to prevent them from fleeing the trial, reports Dynamite News correspondent.
This follows the court's summons in Criminal Case No. 1344 of 2024, stemming from accusations of cheating and unlawful tampering with drones.
The IdeaForge Technology Limited top executives, including Directors Ankit Mehta, Rahul Singh, CFO Vipul Joshi and General Manager Somil Gautam, appeared before the XI Metropolitan Magistrate Court in Saidapet on Tuesday.
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The legal troubles of IdeaForge escalated after the Supreme Court of India, in a ruling last week, dismissed their petition to quash criminal proceedings against the company and its directors. The company stands accused of criminal breach of trust, cheating, and unauthorized software manipulation of unmanned aerial vehicles (UAVs), commonly known as drones.
The case canters around allegations that the company intentionally disabled drones supplied to a customer, potentially sabotaging crucial government projects worth approximately 70 crores.
In the Supreme Court ruling, a bench led by Justices J.B. Pardiwala and R. Mahadevan upheld the Madras High Court's earlier decision, emphasizing that there was a prima facie case for cheating. The court's refusal to exempt the company's directors from appearing in court signals their involvement in the alleged hacking incident, which has drawn widespread attention.
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Background of the Case
The case stems from a complaint filed by the customer, who had purchased 15 drones for a total of 2.2 crore. Following an investigation by the Cyber Crime Police, the final report filed against IdeaForge and its directors includes charges under Sections 409 and 65 of the Indian Penal Code (IPC), and Section 66 of the IT Act, 2008. The charges allege that the company deliberately sabotaged its own products to damage the customer’s business and reputation.