#GST fraud in Delhi

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Rogue Tax Officer, 3 Lawyers, 500 Firms - Big GST Heist Uncovered In Delhi

A rogue tax officer, a trio of lawyers and a few other people masterminded a fraud, swindling ₹ 54 crore from the Goods and Service Tax (GST) Department in the national capital. It was exposed by the Anti-Corruption Bureau of the Delhi Government.

A GST officer, three lawyers, two transporters and the owner of a "company" were part of a plot involving 500 fake companies and fake invoices worth ₹ 718 crore to claim GST refunds worth ₹ 54 crore. The 500 companies only existed on paper and were purportedly involved in the import/export of medical goods to claim GST refunds.

Babita Sharma, the GST Officer (GSTO), hatched a plan with 96 fake firms and approved over 400 refunds worth ₹ 35.51 crore between 2021 and 2022. In the first year, only refunds worth ₹ 7 lakh were approved but later the remaining were approved.

Interestingly, the refunds were approved by the GSTO after filing the applications and approval was given within three days. In 2021, Ms Sharma was transferred to Ward 22 of the GST office and surprisingly, within a few days, over 50 firms applied for migration from Ward 6 to Ward 22, and was okayed within a short period. The migration raised alarm bells and the GST Vigilance Department sent teams to the offices of these firms. It led to the unearthing of the GST fraud, which had roots in its own office.

A particular ward has jurisdiction over a specific area.

The fake firms generated invoices worth ₹ 718 crore, i.e. fake purchases were made and business was only on paper, the probe, which was later transferred to the ACB, found. The GSTO issued refunds without verification of invoices and Input Tax Credit (ITC).

Over 40 firms were supplying goods in the first phase but no records were available in the second phase, the probe found. In the case of 15 firms, there was neither an Aadhar Card verification nor physical verification of the firm at the time of GST registration, which as per the rules is mandatory.

Of the 53 firms that migrated to Ward 22 after Ms Babita's transfer, 48 were given a GST refund of ₹ 12.32 crore. The Non-Objection Certificates or NOCs from property owners of these firms for offices were prepared between July 26, 202 and July 27. The GSTO was transferred to Ward 22 on July 26, 2021.

The investigation revealed that the GST refunds were issued in the bank accounts of three lawyers - Rajat, Mukesh and Narendra Saini and their family members, through different bank accounts. The ACB found 1,000 bank accounts directly related to the fake firms, their family members and the employees.

The trio ran 23 firms from an email ID and mobile numbers. Five firms were registered under the same PAN number and email ID to generate different GST registration numbers.

The 23 firms handled by the lawyers generated fake invoices worth ₹ 173 crore. Out of these 23 fake companies, seven were involved in the supply of medical goods and had shown business of ₹ 30 crore in their invoices.

One of the accused arrested is a fake firm owner, Manoj Goyal and two transporters, Surjeet Singh and Lalit Kumar. The Anti-Corruption Bureau said forged e-way bills and receipts of carrying goods were generated to get GST refunds. The transporters received money for providing such documents without giving any service.

[sankhlaco]

Consultation Audit Services in Delhi: A Pathway to Financial Precision

Delhi, the capital city of India, is not just the heart of the nation but also a bustling hub of business activity. From startups to established enterprises, organizations in the Delhi area are increasingly relying on consultation audit services to ensure financial transparency, regulatory compliance, and optimized operations. Here’s an in-depth look at why consultation audit services are essential and how they can benefit businesses in the region.

Understanding Consultation Audit Services

Consultation audit services go beyond traditional financial audits. They encompass a comprehensive review of a company’s financial records, operational processes, and compliance frameworks to provide actionable insights for improvement. These services can include:

Statutory Audits – Ensuring compliance with legal and financial reporting requirements.

Internal Audits – Evaluating operational efficiency and risk management practices.

Tax Audits – Verifying compliance with taxation laws and optimizing tax strategies.

Process Audits – Reviewing and enhancing workflows for better productivity and cost-efficiency.

Management Audits – Assessing the effectiveness of leadership and decision-making processes.

Why Businesses in Delhi Need Consultation Audit Services

Regulatory Environment Delhi is home to numerous businesses operating under stringent local, national, and international regulations. Regular audits ensure compliance with laws like the Companies Act, GST laws, and various sector-specific regulations.

Competitive Advantage A thorough audit helps identify inefficiencies, reduce costs, and optimize resource allocation. These insights allow businesses to remain competitive in Delhi’s vibrant market.

Investor Confidence For businesses seeking funding, robust audit practices reassure investors of financial integrity and sound management.

Risk Mitigation With businesses in Delhi facing challenges such as cyber threats, fraud, and fluctuating market conditions, audits provide a safeguard by identifying and addressing vulnerabilities early.

Key Benefits of Consultation Audit Services

Enhanced Compliance: Avoid penalties by adhering to legal and regulatory standards.

Financial Accuracy: Ensure error-free records and improved budgeting.

Strategic Decision-Making: Leverage insights to make informed business decisions.

Improved Credibility: Build trust with stakeholders, including customers and investors.

Cost Efficiency: Streamline processes to save time and resources.

Choosing the Right Consultation Audit Firm in Delhi

The effectiveness of an audit depends largely on the expertise of the auditing firm. Here are key factors to consider:

Experience and Specialization: Choose a firm with a proven track record and expertise in your industry.

Local Knowledge: Firms familiar with Delhi’s regulatory landscape can provide tailored solutions.

Comprehensive Services: Opt for firms offering end-to-end audit and consultation services.

Technology Adoption: Modern tools like AI-powered audit software can enhance precision and efficiency.

Leading Consultation Audit Trends in Delhi

Digital Auditing Tools: With the rise of digitization, automated tools are transforming traditional audit practices.

Sustainability Audits: As businesses focus on ESG (Environmental, Social, Governance) compliance, sustainability audits are gaining prominence.

Risk-Based Auditing: A shift towards identifying high-risk areas to prioritize during audits.

Conclusion-

In a dynamic business environment like Delhi, consultation audit services are not a luxury but a necessity. By partnering with the right audit firm, businesses can navigate the complexities of compliance, improve financial health, and unlock growth opportunities.

Whether you’re a small business owner or a large enterprise, investing in consultation audit services can set you on the path to financial precision and long-term success.

Looking for Consultation Audit Services in Delhi? Contact our team of experts to get tailored solutions for your business needs. Let us help you achieve financial clarity and compliance excellence!

[scbhagat]

Tax Auditors in Delhi: Expert Services by SC Bhagat & Co.

Navigating the complexities of tax regulations is crucial for businesses and individuals alike, especially in a dynamic financial landscape like Delhi. Choosing a reliable tax auditor ensures your financial compliance, reduces audit risks, and enhances your financial credibility. SC Bhagat & Co., a leading tax auditing firm in Delhi, provides expert services designed to meet the unique needs of businesses and individuals, from tax compliance to advanced auditing solutions.

Why Tax Auditing Matters Tax auditing is essential for ensuring that financial records are accurate and compliant with current tax laws. Regular audits help businesses identify financial discrepancies, optimize their tax liabilities, and avoid costly penalties. For individuals, tax audits can validate their tax filings and enhance financial transparency. Whether you're a business owner or an individual taxpayer, tax audits play a vital role in:

Ensuring Compliance: By following regulatory requirements, tax audits help organizations and individuals avoid penalties. Detecting Errors and Fraud: An audit reveals inconsistencies in financial records, helping to prevent fraud or accidental errors. Improving Financial Accuracy: A professional audit provides a detailed review of financial data, ensuring accurate tax calculations. Building Credibility with Stakeholders: Regular audits reflect a commitment to transparency, boosting stakeholder confidence. SC Bhagat & Co.: Trusted Tax Auditors in Delhi SC Bhagat & Co. has earned its reputation as a trusted provider of tax auditing services in Delhi, thanks to its dedicated team of qualified professionals, extensive industry knowledge, and commitment to client success. Their expert tax auditors help clients stay compliant, reduce tax risks, and optimize their financial health through strategic auditing and consulting.

Key Services Offered by SC Bhagat & Co. SC Bhagat & Co. offers a range of tax auditing and related services designed to meet the unique needs of both individuals and businesses in Delhi:

Statutory Tax Audits SC Bhagat & Co. conducts thorough statutory tax audits to ensure clients meet legal requirements and minimize tax liabilities. Their expertise in Indian tax laws ensures every client is fully compliant with government regulations.

Internal Audits For businesses seeking to improve internal processes, SC Bhagat & Co. offers internal auditing services that identify areas of risk, improve financial accuracy, and enhance operational efficiency.

GST Audits GST compliance is critical for businesses in India, and SC Bhagat & Co. specializes in GST audits to ensure accurate filing and adherence to GST regulations. This minimizes the risk of penalties and provides peace of mind.

Income Tax Audits SC Bhagat & Co. offers comprehensive income tax audits for individuals and businesses, ensuring accurate filings and preventing potential issues with tax authorities.

Forensic Audits For clients requiring deeper analysis, SC Bhagat & Co. provides forensic audits to detect and address financial discrepancies, fraud, or irregularities within an organization.

Benefits of Working with SC Bhagat & Co. When you choose SC Bhagat & Co. as your tax auditor in Delhi, you gain access to a team that brings professionalism, in-depth knowledge, and dedication to every audit. Here are some reasons clients prefer SC Bhagat & Co.:

Industry Expertise: With years of experience in tax auditing and consulting, SC Bhagat & Co. provides services across various industries. Client-Centric Approach: The team at SC Bhagat & Co. takes time to understand each client's specific requirements, offering tailored solutions that best meet their needs. Timely and Efficient Services: Understanding the importance of meeting deadlines, SC Bhagat & Co. ensures timely audits and reporting. Confidentiality and Trust: They prioritize client confidentiality, ensuring all information is handled securely and professionally. Why Delhi Businesses and Individuals Choose SC Bhagat & Co. Delhi’s competitive business environment demands precision and reliability in tax matters. SC Bhagat & Co.’s commitment to excellence, coupled with their local expertise, makes them a preferred choice for tax audits in Delhi. Their clients range from small businesses to large corporations, as well as individuals seeking precise and trustworthy tax audit solutions.

Testimonials from Satisfied Clients Many of SC Bhagat & Co.'s clients have shared positive experiences, appreciating their professionalism and thorough approach. Here are a few testimonials:

“SC Bhagat & Co. has transformed our financial process. Their tax auditors identified several areas where we could reduce tax liabilities, helping us save significantly.”

“We’ve been working with SC Bhagat & Co. for years, and their expertise in GST audits has been invaluable. Highly recommended for any business in Delhi!”

Contact SC Bhagat & Co. for Expert Tax Auditing in Delhi If you're in need of reliable and professional tax auditing services in Delhi, SC Bhagat & Co. is here to help. Their team is ready to assist you with all your tax auditing needs, ensuring you meet compliance requirements and optimize your financial standing.

[baitdragon]

Unveiling the Allegations: The Controversy Surrounding Kewal Ahuja SGF

Kewal Ahuja SGF, the founder of SGF India, a vegetarian restaurant franchise chain, is at the center of a rapidly growing controversy. Once seen as a promising venture in the Indian franchise market, SGF India has now been marred by allegations of fraud, financial mismanagement, and deceptive business practices. As investigations into the company's operations intensify, troubling revelations continue to surface, casting a dark shadow over its founder, Kewal Ahuja SGF.

The Rise of SGF India SGF India quickly gained traction in the Indian franchise industry, particularly due to its focus on vegetarian cuisine. The franchise promised high returns, solid support for franchisees, and a business model that seemed to align perfectly with India's growing demand for plant-based dining options. This promise attracted many investors, especially young entrepreneurs eager to tap into the expanding vegetarian market.

However, the reality soon began to diverge from the promises made by SGF India and its founder, Kewal Ahuja SGF. Franchisees who were enticed by the brand's supposed potential began reporting losses, and many outlets were forced to close within a year. As these complaints mounted, investigations into SGF India revealed disturbing signs of financial mismanagement and deceptive marketing practices.

Allegations of Fraud and Misrepresentation The core of the controversy surrounding Kewal Ahuja SGF lies in allegations of fraudulent business practices. Many investors have come forward claiming they were misled about the financial health and profitability of SGF India. Franchisees were reportedly drawn in by promises of lucrative returns, only to find their businesses floundering and eventually closing.

The claims suggest that Kewal Ahuja SGF misrepresented the viability of the franchise model, presenting an inflated picture of the company’s success and potential. Many investors have expressed feelings of betrayal as they are now left with significant financial losses and no recourse for compensation. The unfolding investigation into these allegations continues to shine a light on the troubling practices within SGF India.

Non-Compliance and Alleged Fund Mismanagement A further layer of concern has been added by SGF India’s consistent non-compliance with financial regulations. Reports suggest that the company has failed to file GST and income tax returns for the past three years, along with neglecting to meet the necessary filing requirements with the Ministry of Corporate Affairs (MCA). These lapses in financial transparency have raised red flags about the company’s operations and have fueled suspicions of fund misappropriation.

The failure to adhere to these basic regulatory requirements signals deeper issues within the company, including the potential misuse of funds. Investors who placed their trust in SGF India and Kewal Ahuja SGF are now questioning where their money went, given the lack of accountability and oversight.

Kewal Ahuja SGF’s Political Connections and Alleged Influence Adding another layer of complexity to the case is Kewal Ahuja SGF’s political position. Ahuja serves as the Treasurer of the Bharatiya Janata Yuva Morcha (BJYM) in Delhi Pradesh, and some critics have suggested that his political ties may have helped protect him and SGF India from the scrutiny that other businesses might face. While there is no direct evidence linking his political influence to the alleged fraudulent activities, the perception that his political connections may have shielded him from accountability has only added fuel to the growing mistrust surrounding the company.

The Path Forward for Investors As the legal and financial investigations continue, potential investors in SGF India should exercise extreme caution. The mounting allegations against Kewal Ahuja SGF and his company paint a picture of significant risks for those considering investing in SGF India’s franchise model.

For those who have already invested in the company, it is crucial to stay informed about the legal proceedings and to seek professional advice on their next steps. Given the ongoing lack of transparency, it may be wise to consider alternative, more reliable investment opportunities.

Conclusion The controversy surrounding Kewal Ahuja SGF and SGF India serves as a cautionary tale about the importance of due diligence when investing in franchises. As the investigation unfolds, many will be watching closely to see whether Kewal Ahuja SGF is held accountable for his actions. Until then, investors are advised to proceed with caution, as the ongoing issues with SGF India’s financial health and regulatory compliance suggest considerable risk for anyone looking to invest in the brand.

[legalaritech]

Expert Taxation and Auditing Services: Best CA Firms in Ghaziabad

Ghaziabad, a thriving city in the National Capital Region (NCR), has become a bustling hub for businesses and individuals seeking professional financial services.

Whether you're an entrepreneur, a corporate entity, or an individual taxpayer, finding the right CA firm in Ghaziabad is crucial for your financial success.

In this article, we delve into the exceptional taxation and auditing services offered by top CA firms in the city and explore why they are indispensable for your financial management.

Why Choose a CA Firm in Ghaziabad?

The demand for Chartered Accountants (CAs) has surged in Ghaziabad due to its rapidly expanding economy and diverse business landscape. Here’s why you should consider engaging a CA firm in Ghaziabad:

Strategic Location: Proximity to Delhi and other major NCR cities makes Ghaziabad a convenient location for businesses seeking accessible and high-quality financial services.

Experienced Professionals: Many CA firms in Ghaziabad are staffed with seasoned professionals who bring a wealth of expertise to the table.

Comprehensive Services: From taxation to auditing and financial consulting, these firms offer a one-stop solution for all financial needs.

Cost-Effective Solutions: Compared to larger metros, CA firms in Ghaziabad often provide high-quality services at competitive rates.

Key Taxation Services Offered by CA Firms in Ghaziabad

Taxation is a critical area where professional expertise can make a significant difference. CA firms in Ghaziabad specialize in providing tailored solutions for:

Income Tax Planning and Filing

Assistance with accurate tax computations.

Filing income tax returns (ITR) for individuals, businesses, and corporates.

Minimizing tax liability through strategic planning.

GST Compliance

End-to-end GST registration services.

Timely filing of GST returns to avoid penalties.

Advisory on input tax credit and compliance.

Tax Advisory for Businesses

Structuring business transactions for maximum tax efficiency.

Handling tax audits and assessments.

Representing clients in disputes with tax authorities.

TDS (Tax Deducted at Source) Management

Ensuring timely deduction and deposit of TDS.

Filing TDS returns and issuing certificates.

The Importance of Auditing Services

Auditing is an indispensable process that ensures transparency, accuracy, and compliance in financial reporting. Leading CA firms in Ghaziabad offer a range of auditing services tailored to meet the needs of various entities:

Statutory Audits

Ensuring compliance with legal and regulatory requirements.

Providing an independent assessment of financial statements.

Internal Audits

Evaluating internal controls and operational efficiency.

Identifying risks and recommending corrective actions.

Tax Audits

Conducting mandatory tax audits as per the Income Tax Act.

Certifying accurate income declarations and deductions.

Forensic Audits

Investigating financial discrepancies and potential frauds.

Assisting in legal proceedings with detailed reports.

How CA Firms in Ghaziabad Add Value

Collaborating with a reputable CA firm in Ghaziabad can significantly enhance your financial health. Here’s how:

Customized Solutions: Tailored financial strategies based on your specific needs.

Time and Cost Savings: Expert handling of taxation and auditing tasks frees up your time and minimizes financial risks.

Regulatory Compliance: Ensuring adherence to all applicable laws and regulations, reducing the chances of penalties or legal issues.

Strategic Growth: Financial insights and advisory services that drive business expansion and profitability.

Top Qualities to Look for in a CA Firm in Ghaziabad

Selecting the right CA firm is a critical decision. Here are the key qualities to look for:

Expertise: A team of qualified and experienced Chartered Accountants.

Reputation: Positive client reviews and a proven track record.

Transparency: Clear communication and upfront pricing.

Technological Capabilities: Use of advanced tools for efficient service delivery.

Client-Centric Approach: Focus on understanding and fulfilling client needs.

Conclusion

The financial landscape is becoming increasingly complex, making it essential to have the support of a skilled CA firm in Ghaziabad. These firms not only simplify the intricacies of taxation and auditing but also offer strategic guidance to help you achieve your financial goals.

Whether you're looking to ensure compliance, optimize taxes, or secure your business's financial future, partnering with a reputable CA firm in Ghaziabad is a smart investment.

Explore the wealth of expertise that these firms bring to the table and empower yourself with the confidence of knowing that your finances are in capable hands. Choose wisely and set yourself up for sustained financial success!

[finverto]

Highlights of the 53rd GST Council Meeting: Key Updates and Outcomes

Highlights of the 53rd GST Council Meeting: Key Updates and Outcomes. The 53rd GST Council meeting, held on June 22, 2024, in New Delhi, marked the first meeting after the 2024 Lok Sabha elections. Chaired by the newly appointed Union Finance Minister, Nirmala Sitharaman, the meeting addressed several critical issues to streamline GST compliance and enhance the tax structure. This blog provides a comprehensive overview of the meeting’s highlights, updates, outcomes, and the latest news. GST Registration.

Key Decisions and Updates from the 53rd GST Council Meeting

Ease of Compliance Burden for Taxpayers

1. Changes in GSTR-1 Filing:

Introduction of GSTR-1A: Taxpayers can now add or amend particulars in GSTR-1 of the current tax period/IFF for the 1st and 2nd month of the quarter before filing GSTR-3B.

Reporting B2C Supplies: The threshold for reporting Business-to-Consumer (B2C) interstate supplies invoice-wise in Table 5 of GSTR-1 has been reduced from ₹2.5 lakh to ₹1 lakh.

2. GSTR-4 Due Date Revised:

The due date for filing GSTR-4 by composition taxable persons has been extended from April 30 to June 30, starting from the fiscal year 2024-25.

3. TCS Rate Reduction:

The Tax Collected at Source (TCS) rate for Electronic Commerce Operators (ECOs) has been reduced from 1% to 0.5% (0.25% each under CGST and SGST/UTGST or 0.5% under IGST).

4. Compulsory Filing of GSTR-7:

GSTR-7 must be filed mandatorily even if no Tax Deducted at Source (TDS) is deducted. No late fee will be charged for nil filing. GST Filing.

5. GSTR-9/9A Filing Exemption:

Taxpayers with an aggregate annual turnover up to ₹2 crore will be exempt from filing the annual return in GSTR-9/9A for the fiscal year 2023-24.

Modifications to Sections and Rules

1. Modification to Section 16(4):

The time limit to avail Input Tax Credit (ITC) for invoices or debit notes in any GSTR-3B filed up to November 30, 2021, is deemed to be November 30, 2021. This applies retrospectively from July 1, 2017. Section 16(4) shall be relaxed for returns filed within 30 days of the order of revocation.

2. Amendment to CGST Rule 88B:

No interest will be charged on the amount available in the electronic cash ledger on the due date of filing GSTR-3B, debited while filing the return in cases of delayed filing.

3. New Section 128A:

Waives interest and penalties for demand notices issued under Section 73 of CGST for fiscal years 2017-18, 2018-19, and 2019-20 in cases not involving fraud, suppression, and misstatement. This applies if the taxpayer pays the full amount in the notice by March 31, 2025.

4. Changes in Sections 73 and 74:

A common time limit will be set for issuing demand notices and orders. The time limit for taxpayers to claim the benefit of reduced penalty, by paying the tax demanded along with interest, is increased from 30 to 60 days.

https://www.finvertoassociates.com/wp-content/uploads/2024/07/Designer-5.jpeg

Monetary Limits and Appeals

1. Monetary Limits for GST Appeals:

Recommended monetary limits for filing appeals: ₹20 lakh for GST Appellate Tribunal, ₹1 crore for High Court, and ₹2 crore for Supreme Court.

2. Amending Sections 107 and 112:

The maximum amount for pre-deposit for filing an appeal before appellate authorities is reduced from ₹25 crore to ₹20 crore under both CGST and SGST. For appeals before the GST Appellate Tribunal, the pre-deposit is reduced from 20% with a maximum amount of ₹50 crores to 10% with a maximum of ₹20 crores under both CGST and SGST.

Additional Key Decisions

1. Sunset Clause for Anti-Profiteering Cases:

A sunset clause will be added for pending anti-profiteering cases. The hearing panel will shift from CCI to the principal bench of GSTAT. The sunset date for receiving new applications regarding anti-profiteering is set for April 1, 2025.

2. Time Limit for GSTAT Appeals:

Modifying Section 112 to provide a 3-month time frame for filing appeals before the GST Appellate Tribunal. The timeline will commence from a date yet to be notified, likely by August 5, 2024.

3. New Section 11A:

Allows regularization of non-levy or short levy of GST due to common trade practices.

4. IGST Refunds and Adjustments:

Mechanism introduced for claiming refunds of additional IGST paid due to upward price revisions after exports. No IGST refund will be allowed where export duty is payable.

5. Biometric-based Aadhaar Authentication:

Implementation of biometric-based Aadhaar authentication for GST registration will be rolled out nationwide in a phased manner.

6. DRC-03 Circular:

A circular will prescribe a mechanism for adjusting any demand amount paid through DRC-03 against the amount payable as a pre-deposit for filing a GST appeal.

7. Amendment to Section 122(1B):

Clarification that the penal provision is applicable only for those e-commerce operators required to collect TCS under Section 52 and not for other e-commerce operators.

The 53rd GST Council meeting has brought significant changes aimed at simplifying compliance, reducing the tax burden, and enhancing the efficiency of the GST system. These updates reflect the government’s ongoing efforts to create a more robust and taxpayer-friendly GST framework. Keep an eye on official announcements for further details and implementation guidelines.

Stay tuned for the latest updates and insights on GST and other financial regulations.

[cybercrime-blogs]

Chinese-Linked Scam Busted: Mastermind of Rs 21 Crore Online Job Scam Arrested By Uttarakhand STF

Dehradun's Special Task Force (STF) of the Uttarakhand Police has successfully apprehended the alleged mastermind behind a massive ₹21 crore fraud scheme that targeted unsuspecting individuals with the lure of a work-from-home opportunity. The accused, identified as Rushabh Sharma from Haryana, was captured following an extensive and meticulous investigation. It is believed that Sharma was the architect of this elaborate fraudulent operation, which had connections to Chinese interests.

Also Read: Cybercrime in Nagpur - Cyber Blackmailer Couple Arrested in Pune for Extorting Money

The case first came to light when a complaint was filed at the Cyber Crime Police Station in Dehradun. The victim, in search of an online job, received an enticing WhatsApp message from an unfamiliar number. This message promised a work-from-home opportunity associated with the renowned Marriott Bonvoy Hotel. The victim was then contacted through the Telegram app by an individual named Sonia, who claimed to represent the esteemed hotel group.

Sonia baited the victim with a scheme that initially involved earning commissions by booking hotels online. To initiate the victim's involvement, a website bearing the URL "https://www.marriottwork.com" was employed for registration, and a Telegram group was established using the link "https://t.me/+CSYSadhAdYk2NDII." Subsequently, the victim was assigned various financial transactions, ultimately leading to a significant loss of ₹19,94,853.

Legal Action and Thorough Investigation

In response to this fraudulent activity, a case was swiftly registered under Section 420/120B of the Indian Penal Code and the Information Technology Act at the Cyber Crime Police Station in Dehradun. An extensive technical investigation was initiated, which eventually led the authorities to the suspect's location in Haryana. A team was promptly dispatched to the neighboring state to further probe the matter, and after rigorous efforts, they succeeded in apprehending Rushabh Sharma, a 27-year-old resident of Gurgaon, Haryana. Additionally, Sharma's Realme mobile phone, alleged to have been used in the commission of the crimes, was seized by the police.

Also Read: Kashmiri Brother-in-Law could not show Kamal, and pressure on Nagpur police failed

Uncovering an Expansive Network

Throughout the investigation, the authorities unveiled a convoluted network of fraudulent bank accounts linked to the accused. These accounts were tied to over 85 complaints registered on the national portal, amounting to a staggering ₹21 crore. They were scattered across various locations, including Gujarat, Delhi NCR, and Punjab. Notably, the accused had also set up dummy bank accounts targeted at Chinese customers.

The perpetrators employed various tactics, including generating fake GST and import-export registration numbers, before establishing these bank accounts. These accounts were predominantly "CURRENT Accounts" created using PAN cards, with Aadhaar cards used for SMS alerts. Subsequently, they provided net banking credentials to foreign customers, enabling them to make cryptocurrency purchases and effectively erase any traces of the money trail. To evade scrutiny, accounts were established under the guise of agricultural firms and societies.

Also Read: Pune Couple's Organized Cyber Blackmailing Scandal Uncovered

This significant arrest by the Uttarakhand Police's Special Task Force represents a substantial victory in the battle against online fraud and cybercrime. It serves as a stark reminder for individuals to exercise caution when encountering seemingly lucrative work-from-home opportunities, particularly those that appear too good to be true.

A recent investigation has brought to light the extensive criminal activities of Rushabh Sharma, a notorious figure with a criminal record spanning multiple states and union territories in India. Shockingly, Sharma has faced a staggering 37 charges registered across 855 cases in various regions, including Telangana, Delhi, Uttar Pradesh, Chhattisgarh, Uttarakhand, Maharashtra, Haryana, and Karnataka, among others.

To further complicate matters, the accused had meticulously established a network of 855 criminal Telegram links that spanned across several states, with a notably high concentration in Uttar Pradesh, Rajasthan, Maharashtra, Delhi, Telangana, and Bihar.

Also Read: Cyber blackmailing case: Shatrughan's bail plea rejected

The evidence and information gathered during this investigation will be promptly shared with the relevant states and union territories, enabling them to take appropriate actions as necessary.

The individual at the center of this criminal web is Rushabh Sharma, the son of Rajesh Sharma, and a resident of M.No. 735, Sector 9, Gurgaon, Haryana. At 27 years of age, his arrest represents a significant setback for the orchestrators of this elaborate fraud scheme. This case serves as a stark reminder of the vital role that vigilance and reporting of suspicious activities play in preventing further individuals from becoming victims of such scams.

Source: https://www.the420.in/haryana-resident-kingpin-work-from-home-fraud-uttarakhand-stf/ 

[filmishine]

MS Dhoni, Abhishek Bachchan's PAN Details Used For Fraud, 5 Arrested: Cops

Investigation into the case is underway. New Delhi: In a bizarre case of cyber fraud, a group of fraudsters allegedly procured PAN details of several Bollywood actors and cricketers from their GST Identification Numbers which are available online, and got credit cards issued in their names from Pune-based fintech startup ‘One Card’. Some of the celebrities whose names and details were used by…

[creative-pens]

Food Chain Franchising In India: The Kewal Ahuja SGF Fraud; Truth Reveals

Kewal Ahuja SGF India fraud breaks cover as more investors come to the limelight alleging SGF with cheating money in the name of franchising. Food franchises enjoy a large amount of popularity, which translates into financial success for the owners of these businesses. On the other hand, picking the incorrect one will cost you both time and money. It is crucial to pick the most trustworthy food franchise in which you can put your faith to enable you to succeed. You ought to earn a satisfactory reward for all of your hard work.

The franchising business is growing at a healthy 30-35% per year and is expected to reach $ 100 Billion in 2024. Many corporate professionals as well as an innocent salaried middle-class youth have been interestingly seen taking a plunge into this franchisee business. This is the same reason why many people joined as franchisees of SGF India. SGF owner Kewal Ahuja has played so smartly and wittily here. He presented this business to the people in such a way that it had looked so tempting & lucrative business with high return value in minimum frame of time. High returns & more than a sustainable revenue generation were offered by SGF made people fall for its franchise.

Abruptly high money as fee was charged from the people. Moreover, the fee collected by SGF, was not reported to regulators such as Income Tax Department and GST Council under regulatory filings. SGF is non-compliant in MCA filings as well. This report highlights the compliance irregularities and potential financial fraud. A deep analysis has been done of SGF and its sister concern company Spice to highlight facts that both are managed by Kewal Ahuja and the companies are also registered at the same address. The sister concern- spice's reported turnover for last 3 years is as follows.

Y & Y (INR)

2017-18: 1.26 crore

2018-19: 2.54 crore

2019-20: 2.70 crore

SGF in the previous 3 years have reported NIL returns in GST and Income tax. They are also non-compliant in MCA filings as well. This is a potential angle of fund misappropriation.

The track record of SGF’s statutory non-compliance are as follows:

SGF was formed in year 2019 and first auditor was appointed on February 25th, 2019, however till march 2019, there was no available record with MCA for financial and annual filing.

Second auditor was appointed in SGF on 31/12/2020 for the period from 1st April 2019 till march 31st 2024, there is again no available record with MCA for financial and annual filing. The first auditor resigned in just few months and second auditor was appointed in extra ordinary general meeting, which raise an alarm.

SGF has not filed annual returns and financial statements with MCA for last 2 years which is a mandator exercise for every PVT. Ltd company in India. If there is a further non-compliance for third year, MCA may start the process of striking off suo moto. SGF has not initiated any e forms to correct the non-compliance which highlights the intent to no follow the going concern.

SGF has filed no returns the income tax returns for the last three years. If the company is collecting franchise fee, the company should be filing the profit and loss account with the income tax department even if the net profit is NIL. This may highlight malicious intent.

SGF has applied for 3 GST numbers. Out of these 3 GST numbers, 2 are registered in Delhi and Haryana state and the status is INACTIVE. These GST numbers are cancelled by GST council suo moto. GST number of Mumbai is active however, there is no return filed by company since September 2021.

All these factors show the malicious intent of Kewal Ahuja and SGF. More truths on Kewal Ahuja SGF fraud comes to the limelight as more and more investors share news about being cheated. All those interested investors should be cautious and rather try to refrain themselves from investing in SGF owned by Kewal Ahuja, where fund misappropriation and fraud has been kept as a main criterion of the business. Kewal Ahuja also serves as the Treasurer of BJYM Delhi Pradesh and has high political influence. He uses this to suppress the news of the fraud. His ultimate aim is to become a lead politician and not be a good businessman.

[astrosblogs]

Kewal Ahuja SGF Fraud Uncovers Into The Limelight

Kewal Ahuja’s vegetarian restaurant chain, SGF India alleged to provide deceptive franchise model. Kewal Ahuja made use of people’s need for job and money during the pandemic period and deceived them money worth lakhs.

The franchising business is growing at a healthy 30–35% per year and is expected to reach $ 100 Billion in 2024. Delhi NCR*s bustling markets greets you with the choicest of top brands. Many corporate professionals as well as an innocent salaried middle-class youth have been interestingly seen taking a plunge into this franchisee business. Kewal Ahuja exploited this opportunity to gain faith of the people, especially youngsters and got them in the trap.

The people who were being told to leave their job or lost their jobs during this pandemic, were in need of finding an option to get their livelihood generated by some or the other means of business. High returns & more than a sustainable revenue generation were offered by SGF — Kewal Ahuja in his 2 modules of business FOFO & FOCO.

Huge amount of money that was collected from the franchisees where not reported by SGF to the regulatory authorities like the Tax department and GST Council. They are also non-compliant in MCA filings as well. This report is proof for the compliance irregularities and potential financial fraud conducted by SGF.

SGF has not filed annual returns and financial statements with MCA for last 2 years which is a mandator exercise for every PVT. Ltd company in India. If there is a further non-compliance for third year, MCA may start the process of striking off suo moto. SGF has not initiated any e forms to correct the non-compliance which highlights the intent to not follow the going concern.

These reports bring forth the Kewal Ahuja SGF fraud. So investors make sure that you don’t fall to trap in such companies.

[baitdragon]

Kewal Ahuja SGF Franchise Scandal: Exposing Deceptive Practices and Advocating for Investor

The SGF (Spice Grill Flame) franchise, led by Kewal Ahuja SGF, has faced severe scrutiny following allegations of financial misconduct. Investors, who were promised substantial returns through the Franchise-Owned, Company-Operated (FOCO) model, have reported sudden payment stops and unexpected outlet closures. These actions have caused significant financial losses, with many investors now seeking restitution through legal cases. The situation has raised concerns about deceptive business practices and the lack of accountability from Kewal Ahuja SGF, further intensifying the demand for justice and regulatory action.

Fraudulent Practices Under Kewal Ahuja’s Leadership

The FOCO model, led by Kewal Ahuja SGF, initially promised substantial returns, including a 223% return over six years. However, after many investors committed large sums based on these promises, outlets were abruptly closed, and payments stopped without warning. This lack of communication has caused a severe financial strain on the affected franchisees, with some losing their life savings.

Legal Action and Investor Backlash

Legal action against SGF and Kewal Ahuja has intensified, with many seeking to recover their investments. Cases have been filed in Delhi courts, but SGF has yet to present any formal defense. The lack of transparency and communication from Kewal Ahuja SGF has only deepened the frustration of investors who trusted the business model.

Regulatory Violations and Non-Compliance by SGF

Further investigations into SGF's operations have exposed significant regulatory failures. SGF, under Kewal Ahuja’s leadership, is accused of failing to report large franchise fees to key authorities, such as the Income Tax Department and the GST Council. The company has also been non-compliant with the Ministry of Corporate Affairs (MCA), which raises concerns about potential financial fraud and corporate misconduct.

The Need for Transparency and Investor Protection

The situation surrounding Kewal Ahuja SGF highlights the urgent need for greater transparency in franchising. Prospective investors must carefully research and verify the legitimacy of business opportunities to avoid falling victim to fraudulent schemes. Regulatory bodies must also ensure stricter monitoring of franchising companies to protect investors from deceptive business practices.

Conclusion: A Wake-Up Call for the Franchising Industry

The SGF franchise scandal, under Kewal Ahuja's leadership, underscores the importance of transparency, regulatory compliance, and accountability in the franchising sector. This case serves as a reminder of the dangers posed by deceptive business practices and the need for stricter regulations to protect investors. By exposing these fraudulent activities, we hope to foster a more transparent, ethical, and trustworthy marketplace in the franchising industry.

[cybercrime-blogs]

Cyber ​​Fraud: Fraudsters sitting in Dubai cheated Rs 2.54 crore, three fraudsters arrested

Noida Cyber Crime Police have cracked down on a gang involved in a massive investment fraud scheme through an online trading company. The gang successfully swindled crores of rupees from unsuspecting victims, including a retired Director General of CPWD who lost a staggering Rs 2.54 crore in a Forex trading scam. Three members of this international fraud syndicate have been apprehended by the police: Tarun Kashyap, Vijay Sharma from Paschim Vihar, Delhi, and Hemant Singhaniyan from Punjabi Bagh. Authorities are currently conducting a search for other members involved. During the operation, police recovered two mobile phones and 11 SIM cards from the arrested individuals.Also Read: Kashmiri Brother-in-Law could not show Kamal, and pressure on Nagpur police failedThe cyber crime station in-charge reported that the criminals operated by creating a fictitious entity named Delta Enterprises, complete with a website designed to resemble a legitimate trading company called Lexatrade.com. They duped their victims by promising lucrative investment opportunities in Forex trading.The modus operandi of these fraudsters involved the use of current accounts for their illicit activities. The arrested individuals paid a substantial sum of one lakh rupees to the mastermind while using savings accounts with a balance of Rs 40 thousand. Further investigations revealed that Rs 21 lakh had been transferred to the account of the apprehended Hemant Singhania.This international fraud operation was conducted through trading accounts that spanned Dubai and Delhi, showcasing the scope and sophistication of the scheme. One of the masterminds behind this criminal network goes by the name of Annie, who was the key contact for the arrested individuals.Also Read: Cybercrime in Nagpur - Cyber Blackmailer Couple Arrested in Pune for Extorting MoneyThe gang employed a cunning strategy by registering fake firms under the guise of legitimate businesses. They opened current accounts in the names of these fabricated entities, fraudulently obtaining MSME and GST registrations. To further their deception, they rented shops in Rohini, Delhi, under Tarun Kashyap's name, where they displayed the firm's signage. They even went to the extent of taking photographs of bank employees to facilitate the opening of current accounts in the firm's name. Shockingly, each shop hosted a total of 25 registered firms with corresponding current accounts. The ongoing investigation also includes scrutiny of the potential involvement of bank employees in this elaborate scam.In summary, the Noida Cyber Crime Police have successfully dismantled a large-scale investment fraud operation, underscoring the importance of vigilance and caution when engaging in online investment opportunities.Source: https://www.the420.in/forex-investment-fraud-running-from-dubai-busted-three-arrested/

[weelectronicstudentreviewstuff]

Delhi lawyer arrested fraud Rs 50 crore KYC input tax credit GST

Delhi lawyer arrested fraud Rs 50 crore KYC input tax credit GST

Image Source : REPRESENTATIONAL IMAGE Delhi lawyer arrested for committing input tax credit fraud of Rs 50 crore GST officers have arrested a person for creating fictitious firms and committing input tax credit fraud of Rs 50.03 crore, the finance ministry said on Sunday. The officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East have unearthed a network of fictitious���

[creative-pens]

Kewal Ahuja’s SGF India Fraud Breaks Cover – The Franchising Sector In India Fills With Scams

SGF (Spice, Grill and Flame) incorporated dated January 29th, 2019, with the main objective of providing food services and ancillary objective included the business activities related to this industry and having Liaison offices and services rendering. SGF’s Kewal Ahuja is one among those franchisee owners who has grown up well in the franchising segment of business. He has become an owner of franchisee from few to many, from nowhere to everywhere.

According to the latest reports the billion-dollar sector of franchising in India is induced with scams and politics and Kewal Ahuja’s SGF is one among them. He is the BJYM treasurer of Delhi Pradesh and keeps a clean image in front of the public. His fraud comes out as the cheated franchisees make complaints and an analysis of the company accounts is made. Paid PR and advertisement clean his image on media and social media.

A deep analysis has been done of SGF and its sister concern company to highlight facts:

Both SGF and spice are registered at same address.

Kewal Ahuja remains as Key management in both the company. Both are related parties; spice is a sister concern of SGF.

The sister concern- spice’s reported turnover for last 3 years is as follows.

Y & Y (INR)

2017–18–1.26 crore

2018–19–2.54 crore

2019–20- 2.70 crore

SGF in all these 3 years have reported NIL returns in GST and Income tax. However, the sister concern’s reported top line is mentioned above. This is a potential angle of fund misappropriation. SGF has a track record of statutory non-compliance in GST and MCA filings as well.

[astrosblogs]

Political Influence Covers Up The Scams Going On In SGF India – Kewal Ahuja Fraud Breaks Through

SGF (Spice, Grill and Flame) incorporated dated January 29th, 2019, with the main objective of providing food services and ancillary objective included the business activities related to this industry and having Liaison offices and services rendering. SGF’s Kewal Ahuja is one among those franchisee owners who has grown up well in the franchising segment of business. He has become an owner of franchisee from few to many, from nowhere to everywhere.

According to the latest reports the billion-dollar sector of franchising in India is induced with scams and politics and Kewal Ahuja’s SGF is one among them. He is the BJYM treasurer of Delhi Pradesh and keeps a clean image in front of the public. His fraud comes out as the cheated franchisees make complaints and an analysis of the company accounts is made. Paid PR and advertisement clean his image on media and social media.

A deep analysis has been done of SGF and its sister concern company to highlight facts:

· Both SGF and spice are registered at same address.

· Kewal Ahuja remains as Key management in both the company. Both are related parties; spice is a sister concern of SGF.

· The sister concern- spice’s reported turnover for last 3 years is as follows.

Y & Y (INR)

2017–18–1.26 crore

2018–19–2.54 crore

2019–20- 2.70 crore

SGF in all these 3 years have reported NIL returns in GST and Income tax. However, the sister concern’s reported top line is mentioned above. This is a potential angle of fund misappropriation. SGF has a track record of statutory non-compliance in GST and MCA filings as well.

[kewalahujasgffraud]

Kewal Ahuja's SGF India Franchise Scam Dupes Many: From Youth to Seasoned Professionals

SGF’s Kewal Ahuja is a franchisee owner who has grown up well in this franchising segment of business, especially during the covid times. He has become an owner of franchisee from few to many, from nowhere to everywhere. Paid PR and advertisement clean his image on media and social media. SGF India is reported to be a leading restaurant food chain with many branches across the country. This is the same reason why innocent people fell for the potential fraud conducted by Kewal Ahuja SGF Fraud.

The story behind the curtain, SGF owner Kewal Ahuja SGF has played so smartly and wittily here. He presented this business to the people in such a way that it had looked so tempting & lucrative business with high return value in minimum frame of time. High returns & more than a sustainable revenue generation were offered by SGF -Kewal Ahuja in his 2 modules of business FOFO & FOCO. The investors, especially people who were being told to leave their job or lost their jobs during the pandemic, were in need of finding an option to generate income joined hands with SGF franchise.

Large sum was collected as franchise fee by Spice grill flame and this amount was not reported to regulators such as Income Tax Department and GST Council under regulatory filings. SGF is non-compliant in MCA filings as well. The latest reports suggest that compliance irregularities and siphoning of funds from SGF India follows these which throws light to the potential financial fraud conducted by Kewal Ahuja SGF.

Kewal Ahuja SGF uses his influence to cover up these facts and represents his business in the society as a genuine firm. Kewal Ahuja also has a strong political background. His family is into politics and Mr. Ahuja is currently the treasurer of the BJYM Delhi state unit. He uses his political influence to his favour for putting the complaints away from the eyes of the public. He holds himself as a well-established entrepreneur who is genuine and works for the welfare of the public as well. But the truth is that he runs the food business not to serve the public, but to improve his political image.