I-T unearths Rs 871 crore scam in Rajkot bank

January 9, 2017

New Delhi, Jan 9: The income tax (I-T) department has detected huge alleged discrepancies in the transactions of a Rajkotbased cooperative bank where Rs 871 crore deposits were made, over 4,500 new accounts opened and more than five dozen accounts having same mobile number initiated, making it one of the biggest cases of black fund generation post November 8.

rajkotThe department's Ahmedabad probe wing has now initiated action under tax laws and has sought full details from the bank after it conducted survey operations against it sometime back and found large irregularities.

Officials said the department's investigation till now has found that cash deposits of Rs 871 crore, majorly using the old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.

The sleuths have identified at least 25 high value cash deposits post demonetization where Rs 30 crore monies have been transacted in an alleged suspicious and unsatisfactory manner and in accounts with purported weak KYC norms in place. An I-T analysis report prepared in this regard states that Rs 10 crore funds were deposited in a number of "dormant" accounts post the currency scrap, including in that of a petroleum firm where Rs 2.53 crore was deposited.

What has startled the taxman has been the fact that a total of "4,551 new accounts were opened in the bank post demonetization as against the average 5,000 of such accounts usually opened in the full year while 62 of these were opened using one mobile number." It was detected, they said, that there were blatant discrepancies in the pay-in slips filled to make the deposits as none of them had PAN numbers quoted, many had no signatures of the depositor even as none had any documents to reflect the source of these amounts.

"It was found that the son of bank's ex-director has received Rs 1 crore through cash deposits in 30 bank accounts. All the pay-in slips were filled by the same person. "Also, the mother of the vice-chairman of the bank has received 64 lakh of cash deposits which have ultimately been transferred to a jeweller," the report alleged and added the funds moved through RTGS and other banking transfer channels.

Comments

Skazi
 - 
Monday, 9 Jan 2017

Shaji, even the role of notorious BJP leaders can not be ruled out ....

Let the justice prevail, and INDIA be CLEAN ....

shaji
 - 
Monday, 9 Jan 2017

I hope investigation will lead to involvement of anti social, anti national and terrorist organisation in this huge currency deal.

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News Network
May 16,2020

Kalaburagi, May 16: Former Karnataka Minister Dr Sharanprakash Patil, who was booked for violating COVID-19 imposed lockdown guidelines said on Friday that it was "politically motivated".

"It's politically motivated, the officer who filed the case was forced by MLA or some other people. As elected representatives, we're going in the constituencies, listening to people as they're apprehensive about the return of migrants. We had not conducted any meeting. Wherever we have gone we have followed social distancing," Patil said.

Patil said, "When I had gone there people came to discuss about a local problem and I was talking to an official concerned. In the meantime, some officer gave a complaint that we have violated the lockdown or something."

"They are trying to curb the voice of opposition because there are a lot of lacunae. We hear complaints about quarantine centres that there is no proper facility for food, or stay, or bathrooms," the Congress leader said.

The FIR was registered on Thursday against 23 persons, including the former MLA and 21 local Congress leaders, under Section 188 (disobedience to order duly promulgated by a public servant) of the Indian Penal Code (IPC).

Congress leader Patil and his followers had conducted a meeting at a convention hall in Sulpeth town on May 13, following which sectoral magistrate Muneer Ahmed lodged a complaint.

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News Network
March 29,2020

Bengaluru, Mar 29: There was no shortage of masks and testing kits for detecting coronavirus cases in Karnataka and the government would import them if a need arose, Chief Minister B S Yediyurappa on Sunday said.

Apprising leaders of political parties on measures taken by his government to combat spread of coronavirus, he also told an all-party meeting that the government has decided to provide life insurance cover to police and civil workers and has taken extra precautions to maintain supply of food grains.

"There is no shortage of testing kits, medicines and masks. If there is need, we will import more... We will distribute testing kits to all the district and Taluk hospitals," he was quoted as saying in a government release.

The state has so far reported 76 COVID-19 cases including three deaths and five discharges.

At the meeting held in the Vidhana Soudha here, former chief minister and senior Congress leader Siddaramaiah said there were shortcomings in the screening of passengers coming from abroad and stressed on the need to maintain supply of essentials.

Yediyurappa said supply of foodgrains would be made through Public Distribution System and the government had taken extra precautions to avoiod any difficulties.

He told the leaders that there was no restriction on agriculture activities in the state.

"I have been regularly holding meetings since March 13 regarding the measures taken to contain the transmission of COVID-19," the chief minister said.

Health Minister B Sriramulu, Medical Education Minister Dr K Sudhakar, IT-BT Minister C N Aswath Narayan, Deputy Chief Minister Laxman Savadi, Siddaramaiah, JD(S) MLAs H D Revanna, D K Shivakumar and former speaker K R Ramesh Kumar attended the meeting.

Yediyurappa said a task force comprising of ministers and officials has been formed to oversee the implementation of the government orders in view of the 21-day lockdown.

He highlighted the prevailing situation across the globe saying normal life has been paralysed everywhere.

The chief minister also brifed the leaders about the number of clinics all over the state, availability of medicines and protection gear for the doctors and in quarantine rooms in the state.

Flagging concerns over screening process, Siddaramaiah said around 4,500 people were yet to be tracked, which need to be taken up on a warfooting.

"The government is saying that we have not reached the third stage but in Nanjangud, a person contracted the disease though he does not have any travel history. This must be probed," he said.

The former former chief minister asked the government to make sure that the free distribution of food grains to weaker sections take place without any difficulty from April 1, as announced by the Central government.

He objected to police 'excesses' while enforcing lockdown.

Siddaramaiah also asked government to bring the police personnel under special insurance cover.

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News Network
June 25,2020

Belagavi, Jun 25: Union Minister of State for Railways Suresh Angadi on Wednesday said that coronavirus was created to "scare us" and to create tensions on the border, in an apparent reference to China.

He said that everyone should learn to live with the virus and follow all norms needed to combat the disease.

"We all know who created the coronavirus. It was created to scare us and to create tensions on the border, we know who did it. We have to learn to live with the coronavirus. We do not need to be scared of it. We must maintain social distancing and follow all the sanitation norms," Angadi told reporters here.

Karnataka on Wednesday reported 397 new COVID-19 positive cases, taking the total count in the state to 10,118.

According to the state health department, the state's death toll has reached 164 after 14 fatalities were reported. As many as 6,151 people have been discharged so far.

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