Written byAnjana Raghav
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.
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.
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.
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 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.
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