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2 more arrested by DGGI Gurugram Unit for ITC fraud

Posted on 02 September 2021,    
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The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has earlier busted a case wherein total fake ITC of  Rs 176 crore has been fraudulently passed on by Sh. Sanjay Goel, Prop of M/s. Redamancy World, and Sh. Deepak Sharma, the de–facto controller of 8 non-existent firms. Accordingly Sh. Sanjay Goel, Prop. of M/s. Redamancy World and Sh. Deepak Sharma has been already arrested by this office, in the matter. On further investigation role of two more key persons, Sh Manish Modi and Sh. Gaurav Agarwal has also been surfaced.

2 more arrested by DGGI Gurugram Unit for ITC fraud

Based on details revealed by further investigation this office has arrested, Sh Manish Modi, Chartered Accountant, resident of Pitam Pura, New Delhi, on charges of creation of running racket of fake firm in order to fraudulently pass on fake Input Tax Credit (ITC), without actual supply of goods or services. It was found that Sh. Manish Modi is managing/controlling  fake firms M/s. Nivaran Enterprises, and M/s Panchwati Enterprises through which he has fraudulently passed on fake ITC to the tune of Rs.  36 crore. Further he has also been found in possession of incriminating evidences indicating many more such firms might be controlled/managed by him for similar purpose, further investigation for same is under way.

Name of Sh. Gaurav Agarwal, Partner of M/s. Agarwal & Company (authorized dealer of ITC) has also emerged as another key person involved in the instant racket of fraud ITC. He has fraudulently passed on fake Input Tax Credit (ITC) amounting to Rs 15 crore (including GST and Cess), thus has been arrested by this office on similar charges. 

Accordingly, Shri Manish Modi and Sh. Gaurav Agarwal were arrested on 23.08.2021 and produced before, Duty MM Delhi, who ordered judicial custody for 14 days. Fake ITC of more than Rs 36 crore and 15 crore, respectively, fraudulently passed on by two persons.

Further investigations in the matter are under progress.

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