SHIMLA: A
Himachal Pradesh company has been accused of duping the government and a consortium of banks of more than Rs 6,000 crore. Indian
Technomac Company, which manufactured refined noble alloys (alloys made of gold, palladium and silver) between 2009 and 2014 before it shut down, has been accused of defrauding the government of Rs 2,175.51crore in VAT.
An FIR in the case has been registered by the police. The issue was also raised by CPM MLA
Rakesh Singha in the state assembly.
According to sources in the excise and taxation department, the company took the central sales tax exemption by showing forged documents and failed to deposit VAT. Sources in the excise department told TOI that besides the alleged tax fraud, the net liability of company towards banks is Rs 3,500 crore, while its liability towards Income Tax department is Rs 780 crore. The company’s liability towards provident fund, labour department and electricity department is between Rs 15 crore and Rs 20 crore. An official said that if the company’s liabilities towards banks and other institutions are added, then this scam could amount to Rs 6,475 crore.
DGP, S R
Mardi, said that officials would first probe the case and after going through the facts involve the
Enforcement Directorate if needed.
