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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 17,2020

New Delhi, Feb 17: The Congress high command is likely to announce the party’s key troubleshooter in Karnataka, DK Shivakumar as the next state unit president with MB Patil as the working president, according to party leaders who spoke on condition of anonymity, in what could be a delicate balancing act between competing caste claims in the state..

Former CM S Siddaramaiah is likely to continue as the Congress Legislature Party leader, the leaders added.

The KPCC presidentship has been vacant ever since the incumbent Dinesh Gundu Rao resigned following the defeat in the bypolls, in which the ruling Bhartiya Janata Party (BJP) won 12 of the 15 seats, ensuring a majority for itself in the state assembly.

The state leadership issue became contentious following that, with Shivakumar, a Vokkaliga, lobbying to ensure that his role as party’s main go-to man during difficult times be rewarded, the leaders cited above said. Patil, a former home minister and a Lingayat leader, was the favoured choice of Siddaramaiah, they added.

A former minister in the Siddaramiah cabinet told HT on condition of anonymity the appointment was now “just a formality”.

“How long could the current uncertainty continue? Shivakumar is a go-getter who can also help generate funds for the party. For instance, on the Bidar school sedition issue, we were late and started an agitation only after the accused got bail. With Shivakumar at the helm, we will be more aggressive and able to put the BJP government on a mat by highlighting all their omissions and commissions,” the former minister added.

The decision to appoint Shivakumar -- a seven-term MLA who served in the cabinets of former CMs S Bangarappa, SM Krishna, Siddaramiah and HD Kumaraswamy -- is likely to be a controversial one. He faces ongoing income tax and Enforcement Directorate (ED) probes, is currently on bail after being jailed by the ED in a money laundering case. He

In his 2018 poll affidavit, Shivakumar declared assets worth Rs 840 crore, making him one of the richest politicians in the state. His brother DK Suresh is a two term parliamentarian and is the sitting MP from the Bangalore Rural constituency.

Shivakumar’s latest move to build the world’s largest Christ statue in his constituency in Kanakapura has also come in for severe attack from Sangh Parivar outfits, who claim the land he donated was government-owned and illegally usurped by him.

Political analyst Manjunath said that Shivakumar, if appointed, is likely to inject a great degree of dynamism into the functioning of the party.

“He sees himself as a future Chief Minister and is very ambitious. If the appointments are confirmed, it will only vindicate the fact that the party high command has tried to balance caste interests by having a Vokkilga, a Lingayat and a Kuruba – the three leading castes in the state - heading different parts of the party. Also since the BJP is making a concerted effort to break into the Vokkaliga votebank, nominating Shivakumar would be a smart move to consolidate the community behind the party,” he said.

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News Network
April 15,2020

Bengaluru, Apr 15: The Opposition Congress in Karnataka on Wednesday accused the BJP government, headed by Chief Minister B S Yediyurappa, of showing discrimination in distribution of relief material to those affected by the lockdown, clamped to check the spread of Novel Coronavirus, by favouring constituencies represented by the ruling BJP Legislators.

Despite that, the party intends to extend full cooperation to the government during this hour of crisis without indulging in politics, it urged the administration to be “transparent”.

''We have had our (Congress) Task Force meeting today, during which we discussed several matters. There is a lot of difference between the government's talk and its deeds,'' KPCC President D K Shivakumar said.

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News Network
April 19,2020

Bengaluru, Apr 19: Karnataka Deputy Chief Minister CN Ashwath Narayan on Sunday said that "only essential and critical number of" employees of the Information Technology (IT) companies will be allowed to work from offices from April 20 onwards in Bengaluru, while others will have to continue working from home.

"Only essential and critical number of employees required will be allowed to turn up. In the next two days, it will be reviewed and a suitable decision will be taken. 

All the details will be communicated to the IT companies," Narayan said here.

Earlier on Saturday, in a meeting to review COVID-19 situation in Karnataka, it was considered that one-third of the employees of IT and biotechnology companies could be allowed to work from the office premises, while the rest should continue to work from home.

Earlier on April 17, the Deputy CM, after holding a video conference meeting with heads of the IT and biotechnology companies, had told reporters that up to 50 per cent of the workforce would have the opportunity to function from office premises after April 20.

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