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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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
June 22,2020

Bengaluru, June 22: Even as the covid-19 positive cases are steadily increasing in Karnataka, an expert has claimed that community transmission has begun in Bengaluru and cases could keep rising over the next two months.

“If you look at the natural course of this virus across countries around the world, it is about six months. Now we’re in the fourth month. This will go on for another two months. It also sounds like this is the beginning of the peak. There is also a possibility of the number of cases going up from now on. Even across India, cases are increasing,” says Dr CN Manjunath, director of Sri Jayadeva Institute of Cardiovascular Sciences and Research and State Task Force member.

Besides the increase in number of cases, the virus is advancing silently, stealthily. A lot of people who are testing positive are asymptomatic. In areas like Padarayanapura, Nanjangud and many places in north Karnataka, there have been positive cases who have not had any contact with infected individuals. Some cases recorded in Bengaluru over the last two to three days have not had any contact with Covid-positive people.

Dr Manjunath adds: “We are in community transmission. This will happen because nature is ahead of everything. We have to take all possible precautionary measures at our command. This has to happen. Only then some kind of herd immunity will be developed.”

“We are expanding the guidelines of testing to include a large number of people to be tested. Now, according to the Indian Council for Medical Research (ICMR) guidelines, only symptomatic Influenza like Illness (ILI) or Severe Acute Respiratory Infection (SARI), or a person coming in contact with an infected person are being tested.

But since we have crossed 100 days in Karnataka from the first reported case and we’re getting cases with no travel history or contact with a Covid-positive person, we have to start random testing across the sub-group population. Only then will we understand the burden of the disease and what precautions need to be taken,” he says.

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News Network
April 25,2020

Mangaluru, Apr 25: In the backdrop of protest staged by locals against the cremation of a 75-year-old woman, who was tested positive for coronavirus, Dakshina Kannada Deputy Commissioner Sindhu B on Friday stated that there is no chance of anyone getting infected from a corpse.

Protocols, as laid by the Centre with regard to cremation of Covid-19 patients, will be followed, said Sindhu in a statement.

The release added that the COVID-19 victims would be buried as per their religious customs. Not more than 20 people would be allowed to perform the last rites. Even closest relatives of the deceased would not be allowed to touch or bathe the body, the release said.

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News Network
January 22,2020

Bengaluru, Jan 22: Chief minister BS Yediyurappa has urged the business community to focus on industries that are farmers and job-oriented and promised that his government would provide all the assistance it can in setting up these industries.

“My government will go the extra mile to facilitate industries that help farmers and provide jobs for youths,” Yediyurappa said during a meeting with several investors and entrepreneurs on the first day of the World Economic Forum, which brings global industry players and government representatives face- to-face, in Davos, Switzerland, on Tuesday.

The chief minister met representatives of 2000 Watt Smart Cities Association, which is represented by sustainability professionals of Nuesch Development, a Swiss Company, and ReNew Power. Both made presentations of their projects to the state delegation.

Yediyurappa appeared impressed by the 2000 Watt’s food processing clusters (development of modern infrastructure and common facilities) projects in rural areas. While presenting their concept, company representatives said they are willing to invest in food clusters, which can provide a better remunerative price for farm produce.

“We will provide all assistance and scientific farming techniques to grow healthy food and market them with added value to the produce,” said Andreas Binkert, scientist and academician, 2000 Watts.

Madhav Bhagwat, CEO of Nuesch Development India, told the Karnataka delegation that the company specialises in carbon-neutral smart township development projects and it has already signed an MoU with the Pune Metropolitan Region Development Authority.

ReNew Power delegates expressed interest in setting up solar power plants in North Karnataka districts like Vijayapura, Kalaburagi, Koppal and Raichur. Samanth Sinha, CEO, ReNew Power, urged the Karnataka government to remove bureaucratic and legal bottlenecks in acquisition of land.

Industries minister Jagadish Shettar and chief secretary TM Vijay Bhaskar among others were present at the meeting.

Yediyurappa and members of the state’s delegation attended US president Donald Trump’s address at the meet. Union minister of commerce and industry Piyush Goel and Union minister of state for shipping Mansukh Mandaviya were also present in the audience.

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