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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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

Bengaluru, Jun 9: JD(S) patriarch H D Deve Gowda on Tuesday filed his nomination as party's candidate for June 19 Rajya Sabha elections from Karnataka.

The former Prime Minister was accompanied by his sons former Chief Minister H D Kumaraswamy and former Minister H D Revanna, state JD(S) chief H K Kumaraswamy and others, as he filed his papers at the office of Legislative Assembly Secretary M K Vishalakshi, who is the returning officer for the polls. JD(S) on Monday had announced that Gowda will be contesting the Rajya Sabha polls.

Announcing the decision, Kumaraswamy had said Gowda decided to contest following the request of Congress President Sonia Gandhi, several national leaders and party legislators, and it was not an easy task to "persuade" him to enter the Rajya Sabha.

The JD(S), which has 34 seats in the assembly, is not in a position to win a seat in Rajya Sabha on its own and will need support from the Congress with its surplus votes. A minimum of 45 votes are required for a candidate to win. If he wins, this will be the second Rajya Sabha entry for 87-year-old Gowda, the first time being in 1996 as the Prime Minister.

Gowda was defeated in Tumkur constituency by BJP's G S Basavaraj by over 13,000 votes in the 2019 Lok Sabha polls. As joint candidate of the then ruling Congress-JDS coalition, Gowda had chosen to contest from Tumkur at the last minute after vacating Hassan-his home turf, to grandson Prajwal Revanna (a current MP).

Election is scheduled on June 19 to fill four Rajya Sabha seats from Karnataka, represented by Rajeev Gowda and BK Hariprasad of Congress, Prabhakar Kore of the BJP and D Kupendra Reddy of JD(S) that will fall vacant on June 25, with their retirement. Today is the last date for filing nominations. With BJP not fielding any candidate against Gowda, his election is likely to be unanimous.

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News Network
March 31,2020

Bengaluru, Mar 31: Venkara Raghava, a software engineer from Bengaluru, who was infected with the coronavirus has recovered and is currently "doing perfectly well".

"I am doing perfectly well now. I had travelled to Los Angeles via Heathrow airport and that is when I came in contact with many travellers. I might have picked up the infection there," Raghava told news agency.

It was in Los Angeles when he started getting a 'low-grade fever' which led him to prepone his flight to Bengaluru. "When I landed back in Bengaluru on March 8, I had a fever and I isolated myself. The same day I went to a hospital where my travel history was taken and I tested positive for COVID-19", he said.

The next day, he was admitted to the isolation centre. His entire family was also tested but the results came back negative.

When asked about what does suffering from COVID-19 feel like, he responded that it was a like a regular viral fever and was "nothing to be scared of". "The fever is very grinding, and since my childhood, I never had a fever. I had a fever for almost 15 days consistently 100 degrees (F)," he said.

About his experience at the isolation centre, he said that it was an experience unlike that of a hospital. "At the isolation centre, one has to take care of themselves, unlike a hospital where doctors and nurses take care of the patient. I had to put a wet cloth on myself and you cannot overdose yourself with Calpol or Paracetamol," he said.

For him, "The tough times are now over" and now he has fully recovered but in the process, he ended up losing about five kilograms. "After the fifteenth day when I woke up with no fever, they took a test for the nose and the throat and it came back negative," he recalled, and on March 22, he was set free.

For one week, he has been in self-quarantine at home "being completely watchful" that the symptoms do not reoccur.

The number of total coronavirus cases reached 1,251 on Monday. There are 1117 active cases in the country, according to the Ministry of Health and Family Welfare.

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News Network
July 22,2020

Bengaluru, Jul 22: Karnataka Governor Vajubhai Vala, had appointed five persons to the Karnataka Legislative Council, which remained vacant, including former ministers H Vishwanath and C P Yogeshwar, here on Wednesday.

In a Raj Bhavan communique issued here on Wednesday, it was stated that the Governor had accepted the names suggested by the Chief minister B S Yediyurappa, to fill the vacancies in the Upper House.

Apart from H Vishwanath, and Yogeshwar, the others who were nominated to the Council, were former MLA Bharathi Shetty, Shantharama Budna Siddi, and Talwar Sabanna.

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