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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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
February 13,2020

Mangaluru, Feb 13: The Customs Officers of Airport Team-II at Mangalore International Airport (MIA) on Thursday intercepted a passenger who attempted to smuggle gold worth Rs 9.39 lakhs.

The team led by Rajesh Poojary nabbed the passenger who attempted to smuggle 233.18 grams of gold strips concealed inside a rechargeable emergency light and solar sensor wall light.

The officials said a passenger named Mohammed Mahir Patla (24) from Kasaragod, who arrived from Dubai yesterday evening by Air India flight number IX384 attempted to smuggle the gold.

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coastaldigest.com news network
May 19,2020

Mangaluru, May 19: In a bizarre incident which exposes the publicity craze of “philanthropists”, members of a city-based organisation returned without disturbing grocery kits after villagers refused to be photographed while receiving them. 

The incident took place at Mukrampady village in Puttur a few days ago. According to sources, a team belonging to an organisation from Mangaluru had visited the village with a letter from their organisation, to distribute grocery kits to families near mosques in the month of Ramadan. 

The team members reportedly insisted the beneficiaries to pose for pictures with the team near a mosque while being given the food kit. The villagers refused to fulfil their wish.

The organisation members then left the place without handing over the Ramadan kits, sources said.

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coastaldigest.com news network
February 5,2020

Bengaluru, Jan 5: B S Yediyurappa-led Karnataka cabinet has finally decided to resume supply of subsidised rice and wheat to students of welfare institutions and hostels including those run by religious mutts under the Dasoha Scheme’s welfare programme. The supply was stopped over two months ago.

“Cabinet has decided to continue supply of subsidised foodgrains (rice and wheat) for the benefit of 37,700 children under the Dasoha scheme in 351 welfare institutions for the next one year at the cost of Rs 18 crore,” said J C Madhuswamy, Law and Parliamentary Affairs Minister. Under this scheme, institutions that provide free accommodation and food for students are entitled to avail 10 kg rice and 5 kg wheat per student every month at subsidised rates. But following a central government directive in November, the state government had stopped supply to private institutions since December.

Hours before the cabinet meeting, Khader addressed a press conference and said, “This government is snatching away food from children by stalling the supply of foodgrains. Institutions like Suttur Mutt, Siddaganga Mutt that have worldwide fame for their service are being inconvenienced by this,” Khader said.

Finding itself in a fix, especially in a matter that involves mutts, the cabinet was quick to restore the supply. “Foodgrains were being supplied to 183 government-run institutions and 281 institutions run by private entities. As per a central government directive, supply to private institutions was stopped but the decision was made by the previous government,” Shashikala Jolle, Women and Child Development Minister, said.

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