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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 16,2020

Udupi, Feb 16: Nine people were killed after a private bus collided with a large roadside boulder in Udupi district in Karnataka on Saturday, the police said. The accident took place on Saturday evening, at around 5.45 pm, on the Mulnur Ghat at Abbas Kattingeri in Mala village, while the bus was on its way to Mangaluru from Sringeri, reported the news channel.

The bus, which was reportedly carrying around 35 passengers, was trying to manoeuvre a turn while travelling on a ghat road when the driver allegedly lost control of the vehicle. The vehicle hit a massive boulder and the impact caused seven people to die on the spot. Two others passed away while they were on the way to the hospital.

The deceased passengers have been identified as Radha Ravi, Yogendra, Preetham Gowda, Basavaraju, Angana, Sharul and Ranjitha. The cleaner of the bus was also killed in the accident.

According to reports, the passengers in the bus were mostly in their early 20s and were employees of Vital Records Private Limited near JCK Industrial Park. Century Vital Records is a data security company which works in the Hebbal Industrial Mysuru. The group was visiting Udupi, Hornadu and Kudremukh.

While some of the injured persons were rushed to Manipal hospital, others were taken to the Karkala city government hospital, police said.

The police have said that rash and negligent driving by the driver is likely to have caused the accident. A case has been registered at the Karkala Rural Police Station, the police said.

Last month, three persons were killed and four others were injured after a fatal collision between a van and a bus near Bengaluru. Both the vehicles caught fire after the impact, but while passengers of the bus, travelling from Bengaluru to Shivamogga, managed to escape, the three passengers who were trapped in the van could not escape and were charred to death.

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coastaldigest.com news network
July 14,2020

Udupi, Jul 14: Abhijna Rao, a student of Vidyodaya PU College, Udupi, has emerged state topper in the science stream of II PUC. 

Abhijna has secured 596 marks in the II PUC examination-2020, the results of which were announced on Tuesday July 14. She scored a perfect 100 marks in Physics, Chemistry, Mathematics and Computer Science (PCMC). In Sanskrit and English she scored 100 and 96 marks respectively.

She had secured second position in the Karnataka SSLC examinations two years ago.

She is daughter of Asha Rao and Vittal Rao, a retired professor. Her sister Raksha Rao has completed Engineering from NITK Suratkal.

“After securing second rank in the state in SSLC, my target was to score more in PUC examinations. My parents and lecturers have supported me in my studies. All my teachers gave me proper guidance. Vidyodaya College also supported me. I was studying on a daily basis. The exams were easy and I had expected to score above 590. I am very happy to score 596," she said.

Comments

Lakshmi
 - 
Sunday, 19 Jul 2020

Congratulations sister what is ur success

 

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News Network
March 10,2020

Bengaluru, Mar 10: Three more positive COVID-19 cases have been confirmed in Karnataka taking the tally to four, state Health Minister B Sriramulu on Tuesday informed.

"Their family members have been isolated and their health is being monitored. I urge citizens to take precautionary measures and co-operate in preventing the spread of this infection," Sriramulu said.

As on Monday, the national tally of persons affected by the coronavirus is 45.

According to the Indian Council of Medical Research (ICMR), in the past 24 hours, one positive case from Kerala, two from Pune, and three from Bengaluru have been confirmed.

Apart from the ICMR; National Institute of Virology in Pune; 51 Virus Research and Diagnostic Laboratories; and National Centre for Disease Control, New Delhi are carrying out tests for COVID-19.

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