HC denies anticipatory bail to fraud who evaded taxes worth ₹24 cr
By: Admin
May 21, 2024
Categories: GST Recent News
4 Min Read
The Bombay high court has refused anticipatory bail to Manish Sen, who allegedly deceived job seekers into opening multiple bank accounts that were used for high-value transactions, resulting in tax evasion worth ₹24 crore. Justice Sarang V Kotwal, who heard the plea, noted the need for thorough investigation and custodial interrogation of Sen to fully uncover the extent of the conspiracy.
The hearing unravelled Sen’s modus operandi involving deception, forged documents, and multiple bank accounts. The first information report based on a complaint by Ritesh Patil, a contract worker with the Thane Municipal Corporation, showed how Sen and his associates exploited his desperation for a job. In January 2022, when Patil responded to a job advertisement near Thane railway station, one of Sen’s associates promised to engage him in a bank as a peon. The person, named Vaibhav, collected Patil’s photographs, biodata, Aadhaar, and PAN cards and opened an account in his name at the Punjab and Sind Bank in Masjid Bunder, under the guise of job formalities. Soon, he told Patil that there was some problem with the account and he would have to open a fresh account at Equitas Small Finance Bank in Vashi. Vaibhav collected all relevant documents from Patil once again; he also took Patil’s passbook, debit card, and cheque book, securing his signatures on blank cheques.
In February 2023, Patil mentioned in the complaint, he received a notice from the goods and services tax (GST) office in Mazgaon. The notice referred to him as the director of M/s Magic Royal Bullion Pvt Ltd, a company he had not heard of, and informed him that he was liable for tax evasion of nearly ₹24 crore.
Investigation by police revealed that Sen and his team had used Patil’s identity to open multiple bank accounts, including at the Kotak Mahindra Bank in Chembur. It also led to another victim named Subhash Kumar Tailor. Like Patil, Tailor was promised a job by an intermediary named Raju Singh, who collected his Aadhaar and PAN cards to open bank accounts in his name. He too was made into a director of Magic Royal, leading to substantial fraudulent transactions and GST notices.
In his statement, Tailor mentioned how he followed instructions from Sen and associates, believing it was part of the employment process. Both Patil and Tailor were asked to hold up their identity cards during video calls, which were used to open fraudulent accounts and transact crores of rupees.
The court underscored the serious and sophisticated nature of the fraud and its implications. Sen’s direct involvement was evidenced by his financial transactions linked to Wixow Enterprises and a crucial phone number associated with Magic Royal and he was denied anticipatory bail.
Source from: https://www.hindustantimes.com/cities/mumbai-news/hc-denies-anticipatory-bail-to-fraud-who-evaded-taxes-worth-24-cr-101716145820168.html