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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 19,2020

Bengaluru, Jan 19: Karnataka Chief Minister B S Yediyurappa on Sunday said he has had detailed discussions with BJP National President Amit Shah on the cabinet expansion and that the exercise would be carried out after his return from Davos.

The Chief Minister told reporters before leaving for Davos to attend the World Economic Forum meet that he hoped his visit would help bring in large-scale investments to the state. "On cabinet expansion, I had detailed discussions for about half-an-hour (with Amit Shah on Saturday), got a good response... one or two days after I come from Davos, I will expand the cabinet. There are no stumbling blocks for it", Yediyurappa said.

He also rubbished media reports about a lack of clarity on the Ministry expansion. "It is not right... there are no issues", he said.

Asked whether he would travel to Delhi to meet Shah after returning from Davos, Yediyurappa merely said, "It is natural for me to meet Amit Shah." According to the Chief Minister's tour programme, he will be back in the city on January 24.

Yediyurappa, along with Union ministers Piyush Goyal and Mansukh Mandaviya, as well as Chief Ministers Amarinder Singh of Punjab and Kamal Nath of Madhya Pradesh, are among those expected to join over 100 Indian CEOs at Davos in the coming days for the WEF's 50th annual meeting.

Stating that he was leaving on a four day trip for Davos with an aim to bring investments to the state, he said interactions have been fixed with 38 industrialists and investors. "There is a large possibility of investments coming to the state from meetings during the WEF meet. I will assure industrialists and investors that the government will give all necessary facilities within our limits and also clear all the doubts that they have," the Chief Minister said. He said employment opportunities in Karnataka would increase due to all these efforts.

Claiming that the economic situation in Karnataka was stable despite the global economic slowdown, he said the state was also organising the Global Investors Meet in November to attract industries and create employment opportunities.

The delegation led by Yediyurappa includes Industries Minister Jagadish Shettar, Chief Secretary T M Vijaya Bhaskar and top officials of the state government. The Chief Minister, who was anxiously waiting for the high command's nod to expand his ministry amid intense lobbying by the aspirants, was keen on getting approval for it from Shah, but was asked to visit Delhi after returning from Davos, party sources said.

They also said that with J P Nadda all set to take over as BJP National President, he would have final discussions with Yediyurappa on the Ministry expansion exercise. S R Vishwanath, Political Secretary to the Chief Minister too said that Yediyurappa would go to Delhi after his return from Davos and immediately expand the Ministry.

He said the Chief Minister has been asked to hold discussions with Nadda, who is currently BJPs National Working President and finalise things.

As the Chief Minister has already made it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the bypolls on BJP tickets will be made ministers, lobbying has been on in the party for the remaining ministerial berths. Currently, there are 18 Ministers, including the Chief Minister in the cabinet that has a sanctioned strength of 34.

However, with some reports that the high command may not be keen on making all the 11 re-elected legislators, whom Yediyurappa has given assurance, as Ministers, it remains to be seen how things turn out. Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make a place for old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with the allocation of key portfolios. Also, disqualified legislators who lost on a BJP ticket during the bypolls like A H Vishwanath (Hunsur) openly expressing their ministerial aspirations has added to the Chief Minister's worry.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 10,2020

Bengaluru, Jan 10: To deal with the problem of animal waste and illegal slaughterhouses in Bengaluru, Mayor M Gowtham Kumar held discussions with concerned departments and consultants to devise a strategy.

Speaking to ANI, Kumar said, "There are some illegal slaughterhouses in and around Bengaluru. We had a discussion with our Special Commissioner (Health) and Chief Health Officer (CHO) also to take up necessary action. We had a discussion last week also."

He also stated that a program has been framed to find illegal slaughterhouses and to shift animal waste generated every day.

"We have framed a program to find illegal slaughterhouses and design them properly. We have planned with our consultants that for the animal waste generated daily, we need four compactors to shift it either to Hoskote or another place that we have identified. We are on it", he said.

The segregation of animal waste and illegal slaughterhouses has been a continued issue in the Bengaluru civic area, a relief from which is expected after the implementation of proposed steps.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 29,2020

Mangaluru, May 29: Even as the thousands of Indian expatriates in Saudi Arabia are waiting for repatriation flights to return to India, a few NRI entrepreneurs are sending home their employees through chartered flights. 

The government of India on May 21 had formally approved the repatriation of stranded Indian expatriate workers through chartered flights arranged by their employing companies particularly in Gulf region and elsewhere. 

Expertise Contracting Co. Ltd headed by K S Sheik and Al-Muzain Est. headed by Zakaria Jokatte are among those who have hired charter flights to repatriate hundreds of employees to India amidst corona lockdown. 

Mr Sheik said that his firm had applied for nine charter flights. "Two of the charter flights will carry 360 people to Mangaluru. Seven other flights will repatriate employees to Delhi, Thiruvananthapuram, Chennai and Hyderabad," he said, adding that the company will bear complete expense of their repatriation and quarantine facility after India. 

Mr Jokatte three charter flights will fly from Dammam to Mangaluru International Airport on June 2, 5 and 8 carrying their employees.

Comments

SANNARUDRAPPA
 - 
Saturday, 30 May 2020

ಸೂಪರ್

 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.