Madhya Pradesh: 80 Booked In ₹2 Bn Fake Firms Scam In Ujjain

Madhya Pradesh: 80 Booked In ₹2 Bn Fake Firms Scam In Ujjain

While CGST was investigating, Kapil Trading Company of Indore had complained to the EOW about the embezzlement of crores of rupees by the said company along with 37 other fraudsters.

Staff ReporterUpdated: Thursday, November 23, 2023, 01:43 AM IST
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EOW office Bhopal |

Ujjain (Madhya Pradesh): The Economic Offenses Wing (EOW) here on Wednesday registered a case against 39 fake companies related to the Rs 2 billion scam. As many as 80 persons have been made accused in the case. The accused had done transactions in the name of fake companies to save tax of about Rs 10 crore.

EOW inspector Anil Shukla said that in the year 2019, CGST had received information about tax evasion worth crores of rupees by Agrawal Soya Extract Private Limited Company, Dhamania, Neemuch. While CGST was investigating, Kapil Trading Company of Indore had complained to the EOW about the embezzlement of crores of rupees by the said company along with 37 other fraudsters.

Investigation of the case revealed that about 80 persons including Agrawal Soya operator Gopal Singhal, and Deepak Singhal have created 39 fake companies for fraud and the said companies have so far committed a scam of Rs 2 billion under the guise of trading in cake and oil.

Shukla said that the accused also showed fake names in the records of those whom they named as directors to create fake companies. The special thing is that the operator of Kapil Trading, who complained about the eye case, also turned out to be an accused. The reason was that Kapil was also involved in the said fake companies and he had complained to avoid action. But his lies were detected during the investigation.

A crime has been registered against Agrawal Soya along with all the companies and their operators under Sections 420, 467, 468, 471, and 120-B of the Indian Penal Code. The accused will soon be arrested in the case, he said.

MODUS OPERANDI

Neemuch-based company Agrawal Soya Extract Private Limited, Dhamania, in collaboration with a total of 39 bogus firms and their operators between the years 2017 to 2022, prepared fraudulent invoices, bills, and receipts and pretended to be fake purchases and sales of soybean DOC to Gopal Singhal, Shalini Singhal, Deepak Singhal, Navneet Garg as the director of his company Agrawal Soya Extract Pvt Ltd, Neemuch committed fraud by issuing fake bills of dozens of firms including Narayan Freight Carrier, Adarsh Nagar, Indore.

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