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CBI ARRESTS AN ABSCONDING ACCUSED IN AN ONGOING INVESTIGATION OF A CASE RELATING TO DEMONETIZED CURRENCY NOTES

The Central Bureau of Investigation has today arrested an absconding accused in an on-going investigation of a case relating to demonetized currency notes. The said accused was absconding since the registration of the case. During investigation, a Look Out Circular (LOC) was issued against the said accused. The accused was spotted at Ahmedabad International Airport when he was returning from USA and was arrested later.

The case relates to depositing of demonetized currency notes in UCO Bank, St. Xavier’s High School Road Branch, Ahmedabad, it was registered on 07.04.2017 on the allegations that the said accused, Propriator of Ahmedabad based private company, in conspiracy with the then Manager & Assistant Branch Head of UCO Bank, St. Xavier’s Branch, Navrangpura, Ahmedabad and other unknown persons, deposited huge number of Specified Bank Notes amounting to Rs.1.49 crore (approx) in the current account of said private company based at Ahmedabad with UCO Bank, during the demonetization period.

The arrested accused will be produced tomorrow in the jurisdictional CBI Special Court, Ahmedabad.

CBI Press Release- New Delhi, 17.10.2017

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Tags : black money (690) Demonetization (466)

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