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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 7,2020

Bengaluru, May 7: A 55-year old woman from Davanagere became the 30th COVID-19 related fatality in Karnataka, where a total number of infections has crossed 700-mark, with eight new positive cases being confirmed, the health department said on Thursday.

The deceased woman was a known case of diabetes and hypertension, she was admitted with a complaint of Severe Acute Respiratory Infection (SARI) and was on a ventilator, the department said in its mid-day situation update.

She died today at a designated hospital in Davanagere, it said.

"Eight new positive cases have been reported from last evening to this noon...

Till date 701 COVID-19 positive cases have been confirmed. This includes 30 deaths and 363 discharges," the update said.

The eight new cases reported include three from Davangere, indulging the deceased patient; also three from Kalaburagi, and one each from Hirebagewadi in Belagavi district and Bengaluru urban.

While four cases are contacts of patients earlier tested positive, three are with the history of Influenza-Like Illness (ILI) and one is a SARI case.

Five among eight new cases are women and three are men.

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News Network
January 20,2020

Chamarajanagara, Jan 20: Karnataka High Court Judge P G M Patil has said that it was the responsibility of the judiciary to ensure that justice was not delayed.

He was speaking at a function marking the inauguration of the first and second floors of the district courts in Chamarajanagar town here last evening. He said that the role of the judiciary was critical in establishing justice in society and hence all efforts must be made to ensure that there was no delay in securing justice.

He observed that the district court has been provided with better amenities that should be utilized for the benefit of the public. The district is no longer backward. It has shown progress and development in recent years and has produced three HC judges, Justice Patil added.

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News Network
January 30,2020

New Delhi, Jan 30: A terrorist opened fire at people peacefully protesting against the contentious citizenship amendment act (CAA) near the Jamia Millia Islamia University in Delhi this afternoon, causing chaos and panic in the area.

One person has been injured. In a video, the terrorist, wearing a black jacket and a pair of white trousers, can be seen walking on a road, waving a gun as he shouts "who wants Azadi, come I'll shoot you. Then he says, "Yeh lo aazadi (here's your freedom)" and opens fire injuring a student in front of police.

A video of the attack that is being shared widely on social media also showed the assailant also shouting the 'Jai Shri Ram' slogan and warning protesters to chant 'Vande Mataram' if they want to stay in India. The injured student, Shadab, was hit by the bullet in his arm and has been admitted to the Holy Family hospital in Jamia Nagar.

His condition is stated to be stable. The incident took place near the hospital when a protest march was being taken out by students. Students said that the attacker tried to hijack the peaceful protest and threatened the anti-CAA agitators.

The shooting comes in the aftermath of communally charged, hateful and violence provoking rhetoric by several BJP leaders in the run-up to the assembly elections in Delhi.

Junior finance minister Anurag Thakur had on Monday led chants of ‘shoot the traitors’ at a poll rally in north Delhi’s Rithala. The minister prompted "desh ke gaddaron ko..." to which the crowd responded "...goli maaro sa***n ko". The chant translates to "shoot down the traitors who betray the country". Protesters against the CAA and the NRC have often been dubbed anti-national by members of the ruling BJP.

After Thakur’s hate speech, a man carrying a gun was also caught at Delhi's Shaheen Bagh, the venue of mega protests. The man had walked into the protest ground and allegedly brandished the weapon till he was overpowered by the surrounding protesters, eyewitnesses said.

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