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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 12,2020

Bengaluru, Jan 12: Chief Justice of India, Sharad Arvind Bobde on Saturday hinted at the possibility of Artificial Intelligence being developed for the court system while making it clear that it will never replace human discretion.

Speaking at an event here, Bobde said, "We have a possibility of developing Artificial Intelligence for the court system. Only for the purpose of ensuring that the undue delay in justice is prevented."

"I must make it clear at the outset as there are times when even judges have asked this. AI is not going to replace human judges or human discretion", he added.

Sharing more details of his vision, he stated, "It is only the repetitive, mathematical and mechanical parts of the judgments for which help can be taken from the system...we are exploring the possibility of implementing it."

Bobde stressed on the requirement of developing AI for judiciary while outlining the number of pending cases in different courts.

"Some people are in jail for 10-15 years and we are not in position to deal with their appeals. The high court's and Supreme Court take so long and ultimately the courts feel that it is just to release them on bail", he said.

Bobde also endorsed employing every talent and skill to ensure delivery of justice in a reasonable time.

"We must employ every talent, every skill we possess to ensure that justice is received within reasonable time. Delay in justice can't be a reason for anybody to take law into their hands. But it's very important for us as courts to ensure there's no undue delay in justice", he said.

CJI Bobde also highlighted the need for pre-litigation mediation and said, "Pre-litigation mediation is the need of the hour especially in the backdrop of a significant pendency that the courts are tackling with. There are innumerable areas where pre-litigation mediation could solve the problem."

He also stressed that the position of a judge is very unique under the constitution and they have to deal with a variety of problems.

"The foundation of civilisation rests on the law. Judicial officers have to deal with a variety of problems...Judges without adequate knowledge, skills and experience may cause distortion, delay and miscarriage of justice", he said.

Earlier in the day, Chief Justice of India Bobde inaugurated the phase-1 of the new building of the Karnataka Judicial Academy on Crescent Road in Bengaluru.

The new building has three floors, besides, the ground floor and two basement floors.

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
May 10,2020

Mangaluru, May 10: The Yenepoya Medical College Hospital at Deralakatte here has become the first private hospital in Dakshina Kannada district to get coronavirus (COVID-19) testing approval.

The laboratory at the hospital has received the nod from the Indian Council of Medical Research (ICMR) to conduct tests for COVID-19, a release here said.

Dakshina Kannada will now have two centres for coronavirus tests, the first one being the district Wenlock hospital, the designated hospital for Covid-19.

ICMR has approved 33 testing centres in the state of which 21 are government hospitals and 12 are private hospitals.

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
April 19,2020

Bengaluru, Apr 19: As many as 25 new cases of coronavirus have been reported in the State till now, said Karnataka's Health Department.

"25 new COVID-19 cases reported in the State from 5 pm Friday to 5 pm on Saturday. The total number of positive cases in the State is 384 including 14 deaths and 104 discharges," added the Health Department.

The Health Department has appealed to the doctors, who are willing to volunteer in the fight against coronavirus, to reach out to the government.

A total of 14,378 COVID-19 cases have been confirmed in the country so far, with 480 deaths being reported due to the virus.

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.