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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 12,2020

Bengaluru: Karnataka chief minister BS Yediyurappa on Tuesday shuffled the portfolios of six newly inducted ministers after they expressed unhappiness about the departments allocated to them barely 24 hours ago.

Three ministers — BC Patil, Anand Singh and K Gopalaiah — received new responsibilities and as many — Shivaram Hebbar, Srimanth Patil and Byrathi Basavaraj — have been saddled with more.

Sources said the six ministers met the CM late Monday night and said they were not happy with the portfolios handed to them. They reportedly threatened not to assume office until their demands were met, forcing the CM to effect the changes early Tuesday.

BC Patil is now vested with agriculture (he had been given forest), Anand Singh forest, environment and ecology (earlier food and civil supplies) and Gopalaiah food and civil supplies (instead of small-scale industries). BC Patil said, “I’m happy I can now be with farmers.” Shivaram Hebbar has been given the additional responsibility of sugar along with labour allocated to him on Monday.

Allocation of the forest portfolio to Anand Singh has raised eyebrows as the Vijayanagara MLA had been arrested in 2013 and 2015 in cases of illegal mining and illegal transportation of mining ore. Singh owned SB Mineral in Ballari and the Lokayukta had charged him with transporting 17,086 tonnes of iron ore without permission or valid licence. He was acquitted in a Belikeri iron ore export case due to lack of evidence.

Byrathi Basvaraj, who has been given the urban development ministry, will also handle Karnataka Urban Water Supply and Drainage Board and Karnataka Urban Infrastructure Development and Finance Corporation.

Srimanth Patil has received minority welfare department apart from textile.

The exercise of portfolio shuffling is likely to continue with minister K Sudhakar reportedly unhappy with medical education.

In another embarrassment to the CM, Mahesh Kumathalli on Tuesday refused to take over as chairman of the Mysore Sales International Ltd, saying he wants to be a minister. BJP MLA Basanagouda Patil Yatnal urged Yediyurappa to induct Kumathalli into the cabinet in line with the promise made to him when he joined the BJP before bypolls. “The CM must keep his word,” he said.

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News Network
April 4,2020

Bengaluru, Apr 4: Karnataka Chief Minister B S Yediyurappa has appealed to employers not to cut salaries of their maids, servants and drivers who are unable to attend work due to the current lockdown situation in the country.

He said compassionate gesture of employers will support the poor and needy.

"I request all the employers not to cut salaries of their maids, servants, drivers etc., who are not able to work due to social distancing. Your compassionate gesture will support the poor and needy to overcome this hard time. FightBackKarnataka CoronavirusPandemic," the Chief Minister said in a tweet.

Comments

MSME Industralist
 - 
Saturday, 4 Apr 2020

What benefit govt is giving us so that we can transfer the same goodness to our workers? Or are the funds only to buy and sell MLA? 

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News Network
March 13,2020

Bengaluru, Mar 13: This year, schoolchildren will have a longer summer vacation starting early, thanks to the new coronavirus onslaught. Primary and Secondary Education Minister Suresh Kumar on Thursday announced that schools in Bengaluru Urban and Rural districts will be closed for vacation from Friday.

Classes from LKG to sixth standard will closed for vacations till the schools reopen in June, while students of classes 7-9 will have ‘study holidays’ until their examinations commence (as scheduled by their respective schools). Their summer vacations will begin with the completion of their examinations.

Class 10 students will have their examinations according to the dates scheduled earlier.

“Let us not treat this as a panic reaction or something to cause a scare. This measure is taken as a precaution. A lot of parents were worried about their children. We have already announced the closure of schools from nursery to sixth standards. Now, we are declaring official holidays upto sixth standard. Students of standards 1-6 will all be promoted based on their formative assessment,” said Kumar adding, “no student will be detained in those classes.”

With respect to seventh, eighth and ninth standards, the schools will be closed for study holidays and students will have to return to write their examinations.“We will not interfere in the examination schedules of CBSE and ICSC schools. However, state syllabus schools have to finish their examinations before March 23”, Public Instruction Commissioner KG Jagadeesh said.Just a couple of papers of the PU examinations are left after which their holidays will begin.

Exam timetable not changed

Miscreants are spreading rumours that SSLC examination dates are changed because of the new coronavirus outbreak. However, Karnataka Secondary Education Examination Board director V Sumangala categorically said the examinations will be held from March 27  to April 9 as scheduled earlier.

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