The Enforcement Directorate today launched search operations at 12 locations across Jharkhand, West Bengal, and Maharashtra in connection with an ongoing investigation under the Prevention of Money Laundering Act, 2002.
According to ED sources, the case pertains to a large-scale fake Input Tax Credit (ITC) fraud worth Rs 750 crore involving shell entities and unauthorised financial channels. The investigation stems from the arrest of one Shiva Kumar Deora, identified as the key mastermind behind the syndicate, who was chargesheeted in July following his arrest in May.
According to information raids were launched on Thursday morning at 12 locations in Ranchi, Kolkata and Mumbai. In Ranchi, raids are being conducted simultaneously at 6 different locations. Sources further said that people associated with the Shiv Kumar Devda gang have been included in the second round of raids related to the GST scam. In the first round of raids in the GST scam, the ED had arrested 4 people, including Shiv Kumar Devda from Kolkata and Amit Agarwal alias Vicky Bhalotia from Jamshedpur.
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During the interrogation of these people, information was received about causing loss to the government by making fake bills in the GST scam.
ED came to know during the interrogation that improper advantage of Input Tax Credit (ITC) was taken by showing paper trade without buying and selling goods.
It is said that more people are involved in this business. After completing the initial investigation of these information, ED has started the second round of raids in the GST scam.
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