CBI books ex-CMD of PEC in â¹531.72-cr cheating case
The CBI has booked PEC's former CMD AK Mirchandani for allegedly cheating the public sector company of â¹531.72 crore. PEC, which comes under the Commerce Ministry, entered into agreements with private firm Pisces Exim for export of iron ore to a foreign buyer. Pisces Exim allegedly defaulted on its agreement and failed to refund amount paid to it by PEC.