HP firm accused of stealing Rs 2175 crores sales tax

Nahan (Himachal Pradesh) [India], Mar. 13 (ANI): The Excise and Taxation Department of Himachal Pradesh on Tuesday filed a cheating and fraud case against Indian Techno MAC Company in Sirmaur for allegedly stealing Rs 2,175 crores sales tax.

The company, which was established before 2009, took the central sales tax exemption by showing forged documents to the bank and also not paid the sales tax from 2009 to 2014. Later, the company closed its operations in 2014.

On the basis of these fake reports, the company had approached several banks to avail the heavy loans. According to reports, the promoter of the company had approached atleast 16 banks and availed the loans.

Now, a case has been registered under Section 420 (fraud), 487, 468, 470, 471 of Indian Penal Code (IPC) at the Majra police station in Sirmaur district against the Chairman and Managing director Rakesh Kumar, Directors Vinay Sharma, Ranjan Mohan and Ashwani Saahu.

GD Thakur, Assistant Excise and Taxation Commissioner based at Nahan, said that after the police investigating, the matter would be handed over to the Enforcement Directorate (EC). (ANI)

This story has not been edited. It has been published as provided by ANI