India's fight against corruption : News & Disscussion
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Our assets losing value everyday, no steps taken to sell them despite consent, say Wadhawans
economictimes.indiatimes.com
Our assets losing value everyday, no steps taken to sell them despite consent, say Wadhawans
Counted among top builders in the city, Rakesh Kumar Wadhawan, and his son Sarang, were put under custody when it was found that the HDIL group promoted by them had borrowed heavily from PMC bank.
Opinion - India ought to distinguish ‘good corruption’ from bad
A few days ago, former Prime Minister Manmohan Singh wrote of the “palpable climate of fear in our society today" as one of the reasons for India’s economic slowdown. This fear is partially caused by a crackdown on corruption, which is choking new projects, investments and bureaucratic...
@Gautam please merge the thread.
GST officials catch massive tax fraud of Rs 2,350 crore, fake invoices, ITC claims
The GST Intelligence has spotted yet another case of fraud related to the utilization and passing on of ineligible Input Tax Credit (ITC), with bogus invoices. The GST officials have arrested three persons involved in massive frauds involving GST amounting to over Rs 2350 crores, said a statement by the Ministry of Finance. The official found that Sachin Bhoruka, Director/Partner in various firms such as Erman Metals, Pioneer Trading, Marshal Multiventures, etc, was arrested for availing ITC amounting to Rs 485.64 crore and passing on fictitious Input Tax Credit amounting to Rs 485.55 crore. Thus, the total quantum of the fraud committed involved GST amounting to Rs 971.19 crores.In a parallel investigation, another person Mahesh Kinger, authorised aignatory of Blue Sea Commodities and Director of Theme Lights was also found engaged in the fraudulent availment and utilization, as well as passing on of ineligible ITC on the basis of bogus invoices issued and received without actual supply of any goods or services. These entities had availed ineligible ITC amounting to Rs 580.23 Crores and had passed on ineligible ITC amounting to Rs 579.76 crores. The total quantum of the fraud committed involved a GST of nearly Rs 1,159.99 crores.
Further, the GST officers arrested Deepak Kumar Prajapati, Director of Udyog Kiran Ltd due to a similar fraud. The subsequent investigations revealed that Prajapati had set up an intricate web of over 22 firms that indulged in circular trading for the purpose of artificially inflating their turnover so as to avail higher bank loans and credit facilities. Based on the investigation conducted till date, it has been noticed that the firms operated Prajapati had passed on bogus ITC amounting to nearly Rs 126 crores, and have availed ITC amounting to R. 94 crores, taking the total fraud amount to R. 220.
GST officials catch massive tax fraud of Rs 2,350 crore, fake invoices, ITC claims
The GST officials have arrested three persons involved in massive frauds involving GST amounting to over Rs 2350 crores.
www.financialexpress.com
103 kg gold worth Rs 450000000 goes 'missing' from CBI's custody; court says time for agni pariksha
CBI had seized 400.47 kg gold during a raid in Chennai in 2012. It was kept in safes under CBI's lock and key. When they were opened recently, it was found that the gold there weighed 103 kg less.
UK Court Rejects Justice Katju's Opinion Against Indian Judiciary In Nirav Modi Extradition Case
While rejecting Nirav Modi's challenge to the extradition request of Government of India in the Rs 14,000 crore PNB fraud case, a court in the United Kingdom discarded the opinon given by former...
Utter shame we had such idiots as judges, we should not allow such idiots to enter back into the country. Let him go to a country which suits his whims & fancies.UK Court Rejects Justice Katju's Opinion Against Indian Judiciary In Nirav Modi Extradition Case
While rejecting Nirav Modi's challenge to the extradition request of Government of India in the Rs 14,000 crore PNB fraud case, a court in the United Kingdom discarded the opinon given by former...www.livelaw.in
Rs 220 Crore In Black Money Detected After Raids On Chennai-Based Company
The Income Tax Department has detected undisclosed income of about Rs 220 crore after it raided a leading tiles and sanitaryware manufacturer based in Chennai, the Central Board of Direct Taxes (CBDT) said.
www.ndtv.com