Sanjay Jain businessman arrested for fraudulent ITC of Rs. 285 Cr.
Meetut : GST Department officers infirmary that – Intelligence was developed by the officers of Ghaziabad Regional Unit that 6 fake mother firms and 7 intermediary firms were involved in availment and passing on of fake ITC to the tune of 274 Cr. to various traders and end users. Scrutiny of GST returns revealed that fake ITC to the tune of Rs. 77 Cr. had been availed by 12 Delhi NCR based entities out of numerous end users in the chain.
Multiple searches were conducted at different locations in Delhi NCR on 02.12.2020. During further investigation, 4 out of above 12 end users categorically admitted that they are engaged in fraudulent availment/ passing on of ITC without actual receipt/supply of goods. A recovery of Rs. 8.11 Cr has also been made from these 04 end users and 2 persons were arrested therein, however, the mastermind of this entire episode managed to escape since the day of search. It was gathered that other investigating agencies, including income tax were also chasing the said mastermind.
To nab the mastermind, officers of Ghaziabad Regional Unit kept a regular close surveillance on his allies, residences, farm houses and other possible hideouts but the mastermind kept on shifting his locations frequently and it was learnt that he was mostly staying in Jain temples in NCR region.
Several attempts and visits were made during last two months, day and night to nab the mastermind at his all possible hideouts and finally on 13.02.2021 his close associate was apprehended. Based on the leads shared by the apprehended associate, a secret office (which was created after the raid of Income tax department) of mastermind was traced out. A search was conducted at the said secret office and incriminating documents, evidences, rubber stamps etc. related to 56 fake firms were recovered.
Further, information extracted from the apprehended close associate led to multiple possible locations where the mastermind could be nabbed. After a well coordinated search operation, the mastermind Shri Sanjay Jain was finally apprehended from Mayur Vihar, Delhi on 15.02.2021 where he had came to visit his friend’s place.
During his statement, Shri Sanjay Jain has categorically admitted that he has created 8 fake firms in the names of his family members, employees etc., wherein he has issued fake GST invoices having invoice value of more than Rs. 1000 Crore involving fraudulent ITC of approximately to the tune of Rs. 285 Cr.
In view of the offence committed, Sh Sanjay Jain was arrested on 16.02.2021 and produced before the Court of Special CJM, Meerut.