Patna: The investigation into the alleged tender-fixing and money laundering network linked to contractor Rishu Shri has entered a new phase, with enforcement agencies preparing to target a group of companies allegedly used to secure government contracts across Bihar.
According to officials familiar with the investigation, the Special Vigilance Unit (SVU) is preparing to approach the Registrar of Companies seeking action against eight firms allegedly connected to Shri and his associates. Investigators believe the companies were used to obtain public contracts and channel funds through a network of business entities.
Shri, who is currently lodged in Beur Central Jail, faces multiple cases registered by the SVU as well as a money laundering investigation by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA).
The ED has summoned him for questioning and continues to examine financial records, corporate structures and communications recovered during the investigation.
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Investigation Expands To Officials
The probe is also drawing scrutiny towards several serving and former government officials.
Sources in the investigating agencies said the role of a number of officers is being examined in connection with contracts allegedly awarded to companies linked to Shri. Authorities are investigating whether officials facilitated tender awards in exchange for illegal benefits.
Several officers have already come under scrutiny in the broader investigation, while enforcement agencies continue to analyse financial transactions and digital evidence.
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Alleged Tender Network Under Examination
Investigators allege that companies linked to Shri secured contracts in sectors including urban infrastructure, sewage treatment, smart road projects and bio-remediation works.
The agencies are examining contracts awarded through departments and agencies including the Urban Development Department, the Building Construction Department and the Bihar Urban Infrastructure Development Corporation (BUIDCO).
The allegations form part of an ongoing investigation and have yet to be tested in court.
Among the companies being examined are Reliable Enterprises, Reliable Infra Services, Shri Nest Build Infra Private Limited, Sai Ashirwad Construction, Matruswa Construction, Matruswa Infra, Urban Environment Solution and Ritashri Enterprises.
Investigators allege that these entities were either directly controlled by Shri or operated by family members, associates and employees.
Foreign Travel And Financial Trail
Officials are also examining Shri’s foreign travel history.
According to sources, investigators have documented multiple overseas trips allegedly undertaken by Shri during a relatively short period while his business interests were expanding.
The agencies are analysing whether any of these trips are linked to financial transactions or business activities under investigation.
ED Examines Alleged Medical Documents
Separately, the Enforcement Directorate is investigating allegations that forged medical records were submitted in an attempt to avoid questioning.
According to agency documents, Shri had informed investigators that he was suffering from serious health issues and required medical rest. The ED subsequently verified the documents with the institutions named in the records.
Investigators claim that the hospital and laboratory concerned denied issuing the documents submitted to the agency and stated that no patient matching Shri’s details had been treated there.
The allegations remain part of the ongoing investigation.
The ED has also examined travel and accommodation records relating to the same period. Agency officials allege that evidence collected during the probe contradicted claims made regarding Shri’s medical condition.
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Probe Continues
The ED and SVU are continuing to investigate the alleged tender-fixing network, financial transactions and links between contractors, companies and public officials.
As the investigation broadens, authorities are expected to examine additional individuals and entities whose names have surfaced during questioning and document analysis.
No charges arising from the latest allegations have yet been adjudicated by a court, and the investigation remains ongoing.
