A Gurgaon man, in a letter addressed to the Prime Minister’s Office, has alleged “serious fraud and manipulations” in the workings of real-estate firm Hindustan Construction (HCC).

The company has incurred a debt of over Rs 10,000 crore and has been declared as a “non-performing asset” (NPA) by most lenders, Mukesh Kumar Sinha claimed in his letter.

Despite given opportunities to restructure its outstanding debt, HCC continues to default on payments to banks, it said.

The company, in a statement to stock exchanges on June 13, has said that the total default amount of HCC stood at a staggering Rs 728.4 crore.

“Of this, Rs 336.53 crore was on account of defaults related to principal repayment, Rs 142.33 crore was related to defaults in interest payments and the remaining was other defaults,” reads the letter which was received by the PMO on June 17.

The defaults involve 14 different lenders, he claimed.

The public lenders are now looking to extend a third lifeline to the company and the group of consortium of banks are mulling over bringing in new investors to manage the claims, the letter read.

The complaint has also been addressed to the Director of Vigilance, Chief Vigilance Officer.

Mukesh Sinha has demanded an inquiry into the claims made by HCC which, according to the letter, look like a case of “mismanagement, manipulations and systemic syphoning off of public funds” by the management over the last several years.