Court Slams IdeaForge CFO: Non-Bailable Warrant Issued in Fake Bail Case

In a significant legal development, the Chennai Metropolitan Magistrate's Court has issued a non-bailable warrant against Vipul Joshi, the Chief Financial Officer (CFO) of IdeaForge Technology Limited, for failing to fulfill bail conditions and attempting to mislead the court by presenting fake sureties.

Strict Deadline for Other Officials

In a stern message to the company, the court has also ordered other senior officers of IdeaForge — CEO Ankit Mehta, Director Rahul Singh, and General Manager Somil Gautam — to submit authentic bail sureties by April 4, 2025. The case is linked to serious cybercrime allegations, and the court has provisionally accepted the bail of a family member of one of the accused, after verifying its legitimacy.

Legal Expert Speaks Out

Commenting on the case, Chennai-based lawyer Tom Wilfred said,

"Clear instructions were given on March 4 that the accused should fulfill all bail conditions by April 1. However, CFO Vipul Joshi failed to appear before the court. What’s more concerning is that the remaining officials attempted to use fake guarantors to secure their release. The court has rightfully treated this as a serious offense. If this behavior continues, even the individuals acting as fake guarantors will face jail time."

The Root of the Case: A Drone Hacking Scandal

The controversy traces back to a multi-crore drone deal. IdeaForge had sold 15 drones (UAVs) worth ₹2.2 crore to a client engaged in a ₹70 crore government project. However, the company allegedly hacked and remotely disabled the drones post-sale, leading to substantial business losses for the client.

On August 31, 2023, the Chennai Cyber Crime Police registered a First Information Report (FIR) against IdeaForge under various sections of cheating and cybercrime. In response, IdeaForge attempted to quash the FIR by approaching the Madras High Court, but the effort was seen as an attempt to evade accountability.