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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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
March 19,2020

Bengaluru, Mar 19: Karnataka High Court on Wednesday rejected the plea by Congress leader Digvijay Singh seeking directions to the police to allow him to meet rebel Madhya Pradesh Congress MLAs who are lodged in Bengaluru.

Earlier in the day, Singh said at a press conference, "I have filed a plea in the Karnataka High Court, seeking permission to meet Madhya Pradesh Congress MLAs who are putting up at Bengaluru. I have decided to be on fast and shall take a call on that after the decision of the Supreme Court and the High Court," Singh said at a press conference here earlier.

Singh said, "The BJP is busy in toppling duly-elected governments. We had successfully thwarted their plans to destabilise the MP government but we were let down by Jyotiraditya Scindia who had a very successful career in Congress."

"We never expected that he would ditch us and join hands with the BJP," he added.

The Congress leader also said that the BJP government had become insecure since the Kamal Nath-led government started tightening the laws on mining.

"Chief Minister Kamal Nath drafted a new mining policy for the sand under which the mines were allotted through auction. All this was unpalatable to the BJP and from Day 1 they started offering money to our Congress legislators," he said.

"In BJP, the Atal Bihari Vajpayee's kind of leadership no longer exists. The leadership which controls the BJP now includes people who have joined hands to do all kinds of unscrupulous things which has led to a stage in India where the banks are collapsing, non-performing assets and unemployment are growing," he added.

Earlier today, he was put under preventive arrest after he sat on a dharna near Ramada Hotel here allegedly for not being allowed to meet the 21 rebel Congress MLAs lodged in the hotel.

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coastaldigest.com web desk
June 10,2020

Kasaragod, Jun 10: Indian Union Muslim League leader Metro Muhammad Haji passed away at a private hospital in Kozhikode today. He was 70.

He was a well known social and political activist in Kasaragod district. He has served in the social, cultural, philanthropic and educational fields.

He was the Executive Committee Member of the Muslim League. He also served as the Kerala State Vice President of the Sunni Youth Union, and President of the Kanhangad Samyukta Jamaat.

He is survived by his wife Zuhra and children Mujeeb, Jaleel, Shameem, Khaleel, Kabeer, Suhaila and Jusaila.

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News Network
May 1,2020

Bengaluru, May 1: As Mumbai link surfacing in some COVID-19 cases in Mandya district in Karnataka, JDS leader and former chief minister H D Kumaraswamy on Friday blamed the district administration for the situation, accusing it of not quarantining 7,000 labourers who 'returned' from the Maharashtra capital.

"The information we have is that there are about 16,000 labourers from Mandya were working in Mumbai of which 7,000 people reached the district. None of them was quarantined properly," Kumaraswamy told reporters in Bengaluru.

He claimed the district, a stronghold of JDS, was staring at a major spurt in cases due to the careless attitude of the district administration. "Government should initiate action against those who are responsible for the laxity," he said.

However, he did not specify when the 7,000 workers returned to Mandya. When asked about Kumaraswamy's claim, officials said they have to verify it. Of the eight cases reported from Mandya on Friday, three had a travel history to Mumbai, a major COVID-19 hotspot in the country, officials said.

A Health Department official said four of the fresh cases were contacts of a patient who tested positive on April 8 and admitted to a hospital. After weeks of coming in contact with him, the four were confirmed for COVID-19, an official said. The Three people with travel history to Mumbai had, in fact, brought the body of a man who died of a heart attack there on April 24, the official added.

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