Sirmaur firm officials booked for ₹2,200crore tax evasion

SHIMLA: The state excise and taxation department has filed a case against a firm — Indian Technomac Co Ltd — for evading tax of more than ₹2,100 crore.

The company owned by Delhi-based Rakesh Sharma had set up a unit to manufacture iron products at Sirmaur’s Paonta Sahib in 2009.

Since then till 2014, the firm did not pay sales tax amounting to ₹2,175.51 crore. However, when the department analysed the sales reports, most of the entries made were found to be forged.

On the basis of these fake reports, the company had reportedly approached 16 banks and availed ‘heavy’ loans.

Excise official GD Thakur, who had unearthed the scam in 2014 and reinvestigated the case in 2016 said, “The company kept showing its sales and defaulted with the tax.” The department had then sought a permission to file an FIR but the response from the head office was delayed citing ‘irrelevant’ reason.

“We have filed an FIR against the promoter of company and some other employees,” Thakur said. A case has been registered under Sections 420 (fraud) besides 487, 468, 470, 471 of the Indian Penal Code at the Majra police station in Sirmaur against the firm’s chairperson and managing director Rakesh Kumar, directors Vinay Sharma, Ranjan Mohan and Ashwani Saahu.