Pune: Two Chartered Accountants Booked Over ₹4,427-Crore Tax Evasion Scam

Pune: A massive alleged tax evasion scam involving transactions worth ₹4,427.92 crore has come to light in Pune, with police registering a case against two chartered accountants for allegedly preparing fake documents and audit reports to facilitate remittances abroad through shell companies.

The case was registered at Kondhwa-Yewalewadi police station against Ankush Kumar Sureshchand Bagrecha (34), a resident of Kondhwa, and Mohit Shivkumar Todi (33), a resident of Kondhwa Budruk. Both are associated with M S OD & Associates. The complaint was lodged by Tanmayi Suhas Desai (31), a resident of Nigdi Pradhikaran.

According to the police complaint, the suspects allegedly acted in connivance with other persons and prepared Form 15CB certificates for remitting foreign currency without verifying the transactions or obtaining authentic supporting documents from the alleged shell companies. The certificates were allegedly submitted to the Income Tax Department as genuine.

Police further alleged that the suspects prepared and uploaded Form 15CA certificates on the Income Tax Department’s portal despite allegedly not having the authority to do so.

The alleged transactions were carried out between 2022 and 2026 for the benefit of three companies. Police said foreign remittances totalling ₹4,427 crore, ₹92 lakh, ₹44 thousand and ₹408 were made during the period, allegedly resulting in tax evasion and causing a loss to the government.

Regarding the matter, a case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita, including Sections 318(4), 234, 229 and 3(5).

Police have launched an investigation to trace the source of the funds allegedly remitted abroad and identify the directors of the three companies involved. The role of other persons who may have been involved in the alleged fraud is also being investigated.