Indore: Six arrested in Duty Credit Scrip scam

Indore: The State Cyber Cell arrested six people for allegedly selling the Duty Credit Scrip of two export companies of Pithampur on Saturday. Three accused are from Pune and they have sold the scrip for more than Rs 2 crores using the digital signatures of the company. The officials claimed that several others might also be involved and further investigations are on.

SP (cyber cell) Jitendra Singh said that the duty credit scrip is the most popular export promotion incentive provided by the government to exporters. A complaint was received from two companies from Pithampur (a company that exports capsule covers and other company exports vehicles) that their duty credit scrip was sold by an unidentified person in the market using their digital signatures. The duty credit scrip is transferable and they can be sold by anyone in the market. The scrip was sold by the accused for Rs 80 lakh and Rs 83 lakhs in the market.

During the investigation, it was found that the duty credit scrip was sold to Sun Export in Mumbai. The cyber cell officials contacted Sun Export and they were informed that an agent from Pune sold them the scrip. The bank accounts were checked when the cyber officials came to know that Rs 80 lakh was credited in the account of a firm of Indore and Rs 83 lakh was credited in another account in Pune. Three persons named Ashutosh Shrivastav of Mangliya, Himanshu Jain of Basant Vihar Colony and Abhishek Thakur of Nipania area of the city were detained by the cell officials. They told the officials that they had established a company to attract the investors. They further informed that they were contacted by a person who told them to receive money in the account to get an attractive commission.

SP Singh said that three other persons named Rajesh Jagtap, Harshal Ghodke and Manoj Lunkad of Pune were also arrested for their involvement in the crime. They are associated with a gang indulged in stealing duty credit scrip of the companies.

It is said that accused Rajesh and Harshal along with two other persons had allegedly sold the scrip in the market. They had received money through two bank accounts of Indore and Pune.

Duty Credit Scrips (DCS) is an export promotion benefit offered by the Government of India under the Foreign Trade Policy (FTP). A DCS provides tax incentives on exports, which can be used by exporters to set off their import duties.

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