Assets of ₹5 Crore Seized in Connection to ₹10,000 Crore GST Fraud Allegations

1. Overview of the Case:

- The Noida police recently acted on a court order to seize assets related to a GST fraud case.

- Two Delhi-based individuals were arrested for their involvement in a ₹10,000 crore fraud scheme uncovered last year.

2. Fraudulent Operation Details:

- The gang behind the fraud allegedly created numerous fake companies using stolen or false identities.

- These bogus companies were used to generate e-way bills and claim input tax credit from the government.

3. Arrests and Investigations:

- A total of 29 suspects have been arrested in connection with the case.

- The investigation revealed 2,660 fake companies linked to the fraudulent activities.

4. Legal Action and Attachment Warrants:

- The Noida police had filed an application with the district court, leading to the issuance of 21 attachment warrants.

- These warrants, under Section 83 of the Criminal Procedure Code, targeted seven suspects proclaimed as absconding.

5. Property Attachments and Valuation:

- Immovable assets worth over ₹25 crore have been identified for attachment during legal proceedings.

- The properties of two suspects, Arjit Goyal and Rohit Nagpal, valued at ₹5 crore, were attached, with actions against others pending.

6. Initiation of the Case:

- The case unfolded when a Noida resident and media firm editor reported an identity fraud involving his PAN card on May 10 last year.

- An FIR was lodged at the Sector 20 police station, citing various sections of the Indian Penal Code related to cheating, forgery, and criminal conspiracy. Source : https://www.hindustantimes.com/cities/noida-news/10000-crore-gst-fraud-assets-worth-5-crore-of-two-suspects-attached-101708625557066.html