NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Supreme Court Of India
    Central Bureau Of Investigation (CBI)
    Indian Army
    Indian Railways
    Indian Air Force
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / India News / Himachal Pradesh: Indian Technomac Director held in Rs. 6000cr scam
    India

    Himachal Pradesh: Indian Technomac Director held in Rs. 6000cr scam

    Himachal Pradesh: Indian Technomac Director held in Rs. 6000cr scam
    Written by Anjana Raghav
    Mar 22, 2018, 01:21 pm 2 min read
    Himachal Pradesh: Indian Technomac Director held in Rs. 6000cr scam

    The CID sleuths have arrested a Director of Paonta Sahib-based firm Indian Technomac Company Limited in a nearly Rs. 6000cr fraud case. Considered one of the biggest financial frauds of Himachal Pradesh, the case was being investigated by the different departments of the state for over four years. The accused, Vinay Kumar Sharma, was remanded in Police (CID) custody till March 24. Here's more.

    The firm's officials disappeared without paying wages to staff

    In March 2014, the company closed the manufacturing operations surreptitiously at Jagatpur village of Paonta Sahib, where the unit is situated. Also, its officials disappeared allegedly without paying the wages of its staff, EPF, income tax, sales tax, and electricity charges amounting to crores. The CID team is looking for the main accused of the scam, Rakesh Kumar Sharma, Managing Director of the firm.

    CID registers two FIRs against accused

    The CID arrested Sharma in connection with two FIRs registered by the agency. First, making the payment of crores of rupees as energy charges to the Himachal Pradesh State Electricity Board allegedly through a fake RTGS, huge tax evasion, Benami land purchases. Second, the violation of provisions of section 118 of Himachal Pradesh Tenancy and Land reform Act, 1972.

    All the four accused have been booked under different sections

    On March 12, the state Excise and Taxation Department also filed an FIR in the case against the Managing Director and three Directors of Indian Technomac Company for cheating and forgery. All the four accused, Rakesh Sharma and three Directors viz Vinay Kumar Sharma, Ranganathan Shrinivasan, and Ashwani Kumar Sahoo have been booked under sections 420, 467, 468, 471 and section 34 of IPC.

    The tax department suffered a loss of Rs. 2,175.51cr

    The Excise and Taxation Department has claimed that it has suffered a loss of Rs. 2,175.51cr due to tax evasion. Various banks were defaulted to the tune of Rs. 2167cr and the company owed Rs. 750cr to Income Tax department and crores to HPSEB, EPF, labor department, and other departments which could be to the tune of Rs. 6000cr. The investigation was underway.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Himachal Pradesh
    Rakesh Sharma
    Vinay Kumar Sharma

    Latest

    Syria: Iranian drone attack kills US contractor; peace on edge Syria
    5 tourist mistakes to avoid on your trip to Belgium Belgium
    Is Nothing Ear (2) better than OnePlus Buds Pro 2 TWS earphones
    Lionel Messi becomes 2nd player with 800 career goals: Stats  Lionel Messi

    Himachal Pradesh

    Jio rolls out 5G in 41 more cities: Check coverage Reliance Jio
    Jio 5G launched in 34 cities, overall count reaches 365 Reliance Jio
    Traveling to Kasol? Visit these five stunning locations Travel And Tourism
    Jio launches 5G in 21 more cities, total reaches 257 Reliance Jio

    Rakesh Sharma

    Bajaj-owned Husqvarna motorcycles to be launched in December: Report India
    SRK on taking time-off: Want to spend time with family David Letterman
    Why didn't Aamir ever use expensive laptop gifted by SRK Shah Rukh Khan
    SRK walks out of Rakesh Sharma's biopic: Here's why Shah Rukh Khan

    Vinay Kumar Sharma

    Days before Nirbhaya convicts' hanging, their families seek euthanasia Akshay Kumar
    Nirbhaya convicts' execution on March 20; fourth death warrant issued Akshay Kumar
    President Kovind rejects Nirbhaya convict Pawan Gupta's mercy plea Supreme Court Of India
    Nirbhaya rape convicts to be hanged on March 3 Delhi High Court

    Love India News?

    Subscribe to stay updated.

    India Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023