I-T investigation into bogus bank account, used for Rs 25 crore jewellery purchase in Surat

Surat: Income Tax department in Surat is investigating an interesting case in which it has found out that Rs 25 crore amount has been transferred to city based Kruti Creation and Rajni Jewellers from a bogus bank account through RTGS.

The investigative team of Income Tax department on received information checked suspicious accounts in Rajmarg based Bank of India branch during which it found that Rs 25 crore amount was transferred from one bank account to two jewellers. Income Tax sleuths after receiving KYC details from the bank reached Bhatar area based address but found that KYC details were fake.

It is interesting to note that this bogus bank account was opened after central government’s demonetisation move of November 8, in the name of S.R.Traders.

While bank branch staff claim they don’t know who opened this account, the jewellers told Income Tax sleuths that customers were unknown to them.

Income Tax department is now investigating the case further through help of CCTV footage.

It should be mentioned here that the account in question was Savings account. Income Tax department may involve FEMA and Money Laundering Act in this case and hand over the investigation to Enforcement Directorate.