The company, which markets audio systems and colour televisions, has offered to gift a luxury car to each member of the Indian cricket team and discounts on purchases of its products, if India won the 1999 World Cup. IT officials said here today that random verification of suppliers to whom the company had issued cheques against purported bills, revealed that they were either not available at addresses given or had never made any supplies to the firm.

The officials' verification with bank accounts showed that the cheques issued to suppliers were encashed immediately and withdrawn in amounts ranging between Rs 10 lakh and Rs 50 lakh.