JAISALMER: Police in Raisinghnagar of Rajasthan’s Sriganganagar district have registered a case against chartered accountant (CA) Sheril Gupta following a complaint by the Income Tax Department, alleging that she issued 1,674 Form 15CB certificates without properly examining or verifying the required documents.The certificates were allegedly used to facilitate overseas remittances worth around Rs 815 crore.The case was registered at the Raisinghnagar police station after Income Tax Department Deputy Director of Investigation Kanhaiyalal Meena submitted a complaint.The department has alleged major irregularities in the issuance of tax certificates used for foreign transactions and has indicated that the role of other intermediaries and a possible larger syndicate will also be investigated.The Income Tax Department had conducted a search at Gupta’s office on August 18. During the operation, officials examined 1,405 out of the 1,674 certificates issued by her.These 1,405 certificates were linked to 56 remitters and were allegedly used to transfer Rs 815 crore 52 lakh 13 thousand 553 to foreign destinations. The remaining certificates could not be downloaded due to technical reasons.According to the department, all 1,674 certificates were linked to 66 individuals. Among them were businessmen from Ajmer, Jaipur and Bhilwara, while others were reportedly from Kerala, Maharashtra, Karnataka, West Bengal and several other states.The investigation reportedly found that one individual, Arshad Khan, was involved in 990 transactions through which more than Rs 610.55 crore was allegedly remitted abroad.Similarly, 71 transactions linked to Ganesh Sakharam Jadhav involved around Rs 44.63 crore, while 55 transactions involving L Cometido Marine Shipping accounted for approximately Rs 39.96 crore.Another 35 transactions linked to Bullfrog Logistics involved around Rs 28.17 crore.The documents examined by the Income Tax Department reportedly contain names of several companies associated with logistics, software, shipping and immigration-related businesses operating in different states.The department has alleged that during the statement recorded in the course of the survey, Gupta admitted that she had not personally examined or verified the relevant bank accounts, agreements and supporting documents before issuing the certificates.Officials also found that several individuals linked to the transactions either were not filing income tax returns or had declared businesses with relatively low turnover.Despite this, substantial amounts were allegedly remitted overseas in their names. Some of the entities involved have been described by the department as suspected shell or fictitious firms.The Income Tax Department has now asked police to investigate not only the CA but also other intermediaries who may have facilitated the transactions.Investigators will examine whether a larger organised network or syndicate was involved in the alleged financial irregularities.Raisinghnagar police have registered the case against Sheril Gupta, and the investigation has been assigned to ASI Surendra Singh.Police will also examine the financial trail and the role of any other individuals or groups found to be connected with the alleged overseas remittance network.
