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New Delhi : The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, had earlier busted a case wherein total fake ITC of Rs 176 crore had been fraudulently passed on by Sanjay Goel, Prop of M/s. Redamancy World, and Deepak Sharma, the de–facto controller of 8 non-existent firms. Accordingly Sanjay Goel, Prop. of M/s. Redamancy World and Deepak Sharma had been already arrested by this office, in the matter. On further investigation role of two more key persons: Manish Modi and Gaurav Agarwal had also been surfaced.
Based on details revealed by further investigation, Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, on August 23, 2021, arrested 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 Manish Modi is managing/controlling fake firms M/s. Nivaran Enterprises, and M/s Panchwati Enterprises through which he had allegedly 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 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 had allegedly fraudulently passed on fake Input Tax Credit (ITC) amounting to Rs 15 crore (including GST and Cess), thus was arrested by this office on August 23, 2021, on similar charges, according to a PIB release.
Accordingly, Manish Modi and Gaurav Agarwal were arrested on August 23, 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.