Sector-20 police arrested the two leaders of the gang that caused loss of billions of rupees to the Indian government’s revenue by opening more than 2600 fake companies in the country. Police gave information about this. Police said that both of them were cheating by taking input tax credit fraudulently. He told that Noida Police had announced a reward of Rs 25-25 thousand on the arrest of the accused who were wanted for a long time.
Deputy Commissioner of Police (Crime) Shakti Mohan Asthaih said that along with them, 32 accused of the gang have been caught by the police so far. Both the arrested accused are entrepreneurs and have a metal business. Awasthi said that the masterminds of the GST fraud are Ajay Sharma and Sanjay Jindal, residents of Sonipat, Haryana.
Two billionaire businessmen of Haryana arrested
In the GST fraud case, Noida Police on Wednesday said it has arrested two billionaire businessmen from Haryana who allegedly conspired to cause revenue loss worth crores of rupees to the government exchequer. A senior police officer said the accused are into the metal scrap business and have collectively caused a revenue loss of around Rs 25 crore to the government exchequer.
Revenue loss to the exchequer
The case, known as the GST scam, came to light in June 2023 and related to revenue loss to the exchequer through input-tax credit (ITC) being claimed by thousands of fake companies formed using forged documents. According to officials, the police investigation has revealed the involvement of hundreds of fake firms and transactions worth about Rs 10,000 crore by them and so far more than two dozen people have been arrested in this case.
racket busted
Deputy Commissioner of Police (Crime) Shakti Mohan Awasthi said that a few months ago, a team from Sector 20 police station in Noida busted a racket and arrested some suspects who were allegedly behind running around 2,600 fake companies. In the investigation of that case, both the masterminds of the racket were arrested on Wednesday. The masterminds are billionaire businessmen and have been identified as Sanjay Jindal and Ajay Sharma.
use of six companies
Jindal runs a company by the name of AS Brownie Metal and Alloys located in Sonipat district of Haryana. He fraudulently claimed ITC of Rs 16.9 crore. This amount was later confiscated by the enforcement agencies. Sharma used six companies to cover up the revenue loss. Awasthi, who has been leading the investigation since the case came to light, said that both the accused are billionaire businessmen and have a huge business in Sonipat.
Reward of Rs 25 thousand on both
The DCP said that Jindal and Sharma were wanted by Noida Police for a long time and there was a reward of Rs 25,000 each for information leading to their arrest. Jindal and Sharma are the masterminds of this racket. They were the real beneficiaries of this fraudulent business of running fake companies and claiming ITC on their behalf.
So far, we have arrested 32 people in connection with the case and some more people linked to it. An FIR was registered at Sector 20 police station under sections 420 (cheating), 467, 468, 471 (all relating to forgery) and 120B (criminal conspiracy) of the Indian Penal Code, police said.
Assets worth Rs 12 crore confiscated
Last month, the Noida Police had attached assets worth around Rs 12 crore of gang members involved in the GST scam, which also included immovable properties at several places in Delhi. The case came to light in June 2023 when fraudsters fraudulently used the PAN details of a journalist to apply for registration of fake companies and registered two firms, one in Punjab and one in Maharashtra while the third requested for such companies. it was done. The company, which was registered in Delhi, was rejected by the GST officials.