ED, Chandigarh has conducted search operations under the provisions of PMLA, 2002 at 14 locations in Haryana and Punjab at the business and residential premises of 3 officers of Excise and Taxation Department, State of Haryana and syndicate members Mahesh Bansal, Padam Bansal, Amit Bansal, Monil Bansal, Rishi Gupta, Harish Biyani and others on 09.07.2024. During the search operations, cash of Rs. 16.38 Lakh, various incriminating documents, documents of immovable properties worth more than 40 Crore, bank lockers and DMAT accounts were recovered and seized.
Directorate of Enforcement
Press Release
12.07.2024
Directorate of Enforcement (ED), Chandigarh Zonal Office has conducted search operations under the provisions of Prevention of Money Laundering Act (PMLA), 2002 at 14 locations in Haryana and Punjab on 09.07.2024. The searches were conducted at the business and residential premises of 3 officers of Excise and Taxation Department, State of Haryana and syndicate members Mahesh Bansal, Padam Bansal, Amit Bansal, Monil Bansal, Rishi Gupta, Harish Biyani and others who incorporated bogus firms for claiming false interstate sale of taxable commodities without any movement of goods.
ED initiated investigation on the basis of various FIRs registered by Haryana Police in various districts of State of Haryana relating to claiming false input tax credit and getting fraudulent refunds in connivance with officers of Excise and Taxation Department causing loss to the public exchequer to the tune of Crore.
ED investigation revealed that bogus firms were incorporated by syndicate members and the sales in these bogus firms were claimed at concessional rate of tax against “C” forms, resulting into claim of false input tax credit and ultimately getting fraudulent refunds with the help of officers of Excise and Taxation Department . These fraudulently got refunds have been withdrawn in cash and utilized for acquisition of movable and immovable properties worth several Crore.
Search operations resulted in the recovery & seizure of digital devices, incriminating documents, documents of immovable properties worth more than 40 Crore, bank lockers, DMAT accounts and unaccounted cash of Rs. 16.38 Lakh.
Further investigation is under progress.
