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old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.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 4,2020

Mangalore, Feb 4: Following the directions of the University Grants Commission (UGC) to use khadi for convocations and other events in universities and colleges, Mangalore University has decided to use khadi-silk for ceremonial robes.

The amendments to the statute governing convocations for conferring degrees were approved in the Academic Council meeting.

Mangalore University Registrar Prof A M Khan said on Tuesday that the colour of the gown of the chancellor will be rich dark red or vermilion and the ‘angavasthram’ will be of gold with blue border.

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News Network
July 29,2020

Bengaluru, Jul 29: State officials will conduct Common Entrance Test (CET) exam as per the instructions given by the state high court, said Karnataka deputy chief minister CN Ashwathnarayan on Tuesday.

"Officials have informed that they are all set to conduct exams on July 30 and 31. We will put this matter in front of the high court. As per the instructions of the high court, we will move forward," said Ashwathnarayan.

This comes after Karnataka High court asked the state government to reconsider the decision of conducting the CET exam.

"...I had called an emergency meeting with district collectors, officials of education, transport, health, police department. And, I took information about the preparedness for conducting the CET exam," he added.

Karnataka CET Exam is a state-level entrance exam organised for providing admissions in Engineering, Pharmacy, B Pharma and other courses offered by colleges and institutions located in the state.

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May 22,2020
Bengaluru, May 22: Evacuation planes from Male in Maldives and Doha in Qatar landed in Bengaluru with returnees from Karnataka after they were stranded for two months due to suspension of international flights since March 23 and the extended lockdown, an official said on Friday.
 
"An Air-India flight (#0266) with 152 passengers from Male and its subsidiary Express flight (IX-0822) with 177 returnees and 5 infants from Doha landed here safely at 6.50 pm. and 9.05 pm respectively," an airline official told media persons in Bengaluru.
 
Both the flights are first from their respective countries to Bengaluru, bringing in returnees to the southern state in the second phase of the Vande Bharat mission, being carried out to evacuate Indians stranded the world over.
 
"As per the standard operating procedure and guidelines of the state health department, all the passengers were screened with thermal device and tested to ensure they were asymptomatic before leaving the airport," a nodal officer said.
 
The returnees were given a spare mask to wear all the time and a sanitiser to wash their hands.
 
"The luggage of all passengers was screened and disinfected before handing over to them after they completed formalities such as filling the self-declaration form and downloading of the Quarantine App for contact tracing later,” said the official.
 
The passengers were ferried from the airport in state-run buses in batches for 14-day institutional quarantine in hotels and resorts across the city.
 
The flights were the 6th and 7th flights to Karnataka, of the national carrier and its Express arm, which are operating the service to repatriate thousands of Indians, including distressed workers, migrants, students, senior citizens and tourists, stranded overseas.
 
Five flights have flown about 650 returnees till date from May 18-21 under the mission's second phase to Bengaluru and Mangaluru on the west coast. The passengers have been brought from Dubai in the UAE, Kuala Lumpur in Malaysia, Muscat in Oman, Dammam in Saudi Arabia and San Francisco in the US.
 
The remaining flights to Karnataka will land in Bengaluru and Mangaluru over the next 12 days till June 3 from 9-10 more destinations the world over.
 
In the first phase of the mission from May 7-17, the airline and its arm flew 6 flights to the state from May 11-15, bringing in 800 passengers, including 623 to Bengaluru and 177 to Mangaluru from London, Singapore, San Francisco and Dubai.

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