Chandigarh, December 3: The UT police today arrested the owner of Ind Swift in the Rs 150-crore tax evasion scam unearthed by the Excise and Taxation Department.
This is the second arrest made by the police in this case. Earlier, in September, Vipin Mishra, who used to work as an accountant with the company, was arrested. Mishra was sacked from the company on the day the FIR was lodged in connection with the scam in August.
DSP (Crime) Pawan Kumar said the owner, Navratan Munjal (68), had been arrested. “Munjal’s company had a liability of Rs 5 crore. However, it had paid only Rs 5,000 as VAT,” the DSP said.
Munjal will be produced in the court tomorrow. His company, based in Ram Darbar, Industrial Area, Phase II, was under the radar for VAT evasion.
The scam had come to light during a hearing in a case by UT Adviser Parimal Rai. Suspecting foul play, the Adviser had asked officials of the Excise and Taxation Department to probe the matter.
Entries were made over a period of two years without the knowledge of senior officials. All settlement orders were issued in the same manner and even the language used in these was almost the same.
During investigation, it was found that the mastermind used the same modus operandi in many cases of fake entries. The persons involved in the racket first approached companies assuring these of settlement of their returns. With the connivance of employees of the Excise and Taxation Department, the settlement orders were issued.
While the companies did not pay tax to the department, it was shown as paid in the department records.
