Chennai Court Issues Non-Bailable Warrant Against ideaForge CFO, Executives Criticized For Fraudulent Sureties

Chennai: A Metropolitan Magistrate Court in Chennai has issued a non-bailable warrant (NBW) against Vipul Joshi, Chief Financial Officer of ideaForge Technology Limited, for failing to appear before the court in a cybercrime case linked to the company. The warrant was issued in Case No. CC 1344/2024 after Joshi failed to comply with a directive to execute a personal bond of Rs 25,000 along with two sureties of the same amount under Section 91 of the Bharatiya Nagarik Suraksha Sanhita (BNSS). The deadline for compliance was April 1, 2025.

Company's Official Statement

This case originates from an incident where one of our customers attempted to appropriate our intellectual property as their own and made False Representations to State Governments by defacing and tampering with our Equipment . When they were prevented from doing so, they initiated misconceived actions intended to harass the company. The interim procedural issues emanating from personal exigencies have been resolved. The warrant has been recalled and cancelled and all due legal procedures are being followed. The case is being pursued as per the legal remedies available to us under the law on the advice of our learned counsels, who are guiding us on each and every move.

Top Executives Face Court Rebuke for Fraudulent Sureties

While other accused—CEO Ankit Mehta, Director & Vice President Rahul Singh, and General Manager Somil Gautam—appeared before the court, they faced strong rebuke for attempting to mislead the judiciary. The court criticized their attempt to present unconnected and unauthorized individuals as sureties, labeling the act “fraudulent.” The court emphasized that such actions not only violate judicial trust but also attempt to subvert the legal process.

The NBW mandates Joshi’s immediate arrest and production before the court. Legal experts believe this could significantly impact the ongoing investigation and court proceedings related to the cybercrime case.