English हिन्दी
Connect with us

India News

Shree Cement accused of Rs 23,000 crore tax fraud, India’s biggest ever

The Income Tax Department continued their tax search against the Kolkata headquarters of Shree Cement firm for the second time this week. The officials have recovered forged documents in their search. The Shree Cement company has been one of the top cement firms, their deduction claim was found to be false, officials said.

Published

on

Shree cement

The Income tax department has accused Shree Cement of tax evasion of Rs 23,000 crore. As per the report, the IT department has raided several locations of Shree Cement in Rajasthan on the suspicion of tax evasion and found that Shree Cement has been involved in India’s biggest tax fraud ever.

The Income Tax Department continued their tax search against the Kolkata headquarters of Shree Cement firm for the second time this week. The officials have recovered forged documents in their search. The Shree Cement company has been one of the top cement firms, their deduction claim was found to be false, officials said.

The reports added that the company has been committing tax evasion of Rs 1200 to 1400 crore every year. Due to this, both central and state government has suffered a huge loss of revenue. The officials have seized several agreements related to the irregularities.  

According to the information given by the IT department, when the concerned members of the group were questioned in a tax fraud case, they refused to share any information. Members claimed that they did not have any information in this regard. The Chairman HN Banger and Vice Chairman Prashant Banger of the Shree group have moved out after the raid. Group’s President Arvind Khinkha was also called several times during the search by the IT department for questioning in this matter, but he did not cooperate with the Department.

Furthermore, the other senior position holders in the Group like Managing Director Neeraj Akhori, Director Nitin Desai, Director Shrikant Somani, and CFO Subhash Jaju were out of contact with the IT department.

Shares of Shree Cement were in a downtrend after the news of the raid broke out. The company stock fell 4.43 percent on the Bombay Stock Exchange in 5 trading days of the entire week. On Friday, it closed at Rs 25,150 with a decrease of 1.83 percent. The group’s market capital has come down to Rs 90,743 crore.      

India News

LPU rape rumour row: Students say video statements were scripted

The Lovely Professional University controversy intensified after three students featured in a university video alleged that they were coached and their statements were used without consent.

Published

on

The controversy at Lovely Professional University (LPU) in Punjab has intensified after three students featured in a university clarification video later alleged that they had been instructed what to say and that their statements were used without their consent.

The controversy followed protests at the university over unverified claims that a female student had been sexually assaulted and later died by suicide. Police have not confirmed that such a crime took place.

Students challenge university’s clarification video

LPU Registrar Dr Monika Gulati had released a video addressing the unrest and featured three students who live in Room 504 of Girls’ Hostel 3, which had been mentioned in claims circulating among students.

In the university’s video, the three students denied that any such incident had taken place in their room and asked students and police not to disturb them.

The registrar subsequently said the unrest was linked to false and fabricated rumours and described the developments as a conspiracy to defame the university.

However, a separate video later emerged in which the same students said they had been instructed by the LPU administration about what to say.

One of the students alleged that they were told to record the statements and that part of the video was edited before being posted on Instagram. The student also said their consent had not been taken.

Another student said they had no involvement in the alleged incident and asked people to leave them alone.

What triggered the LPU protests

The protests began after claims spread among students that a female student had allegedly been sexually assaulted on campus and had subsequently died by suicide.

One protesting student alleged that the woman had been assaulted by a construction worker and later sent home by the university authorities. The student further claimed that the woman’s roommate subsequently informed other students that she had died by suicide.

These claims have not been independently confirmed by police.

Deputy Inspector General of Jalandhar Range Naveen Singla said students had claimed that a girl in a hostel had been sexually assaulted around three days earlier and had since returned home. Police registered a case based on that statement, according to the report.

Earlier, Kapurthala Senior Superintendent of Police Gaurav Toora said police had no information about any such crime being reported to them.

Protests turn violent

The protests at LPU escalated, with students vandalising parts of the campus and setting some objects and sections of the building on fire.

Videos showed groups of students protesting and demanding justice. Some students also damaged window panes and flower pots, while a group blocked the Jalandhar-Phagwara national highway, resulting in significant traffic disruption.

Police said an assessment of the property damage was underway and that legal action would follow.

LPU separately urged students to ignore what it described as false and misleading rumours and asked them to remain inside their hostels or residences and avoid involvement in the unrest.

The developments have left the central allegation unresolved, with police investigation continuing and the university maintaining that the claims circulating on social media were rumours.

Continue Reading

India News

3-day bank strike deferred after talks between unions, banks’ association

The three-day nationwide bank strike scheduled to begin on Monday has been deferred after the United Forum of Bank Unions held talks with the Indian Banks’ Association.

Published

on

Bank Strike

The three-day nationwide bank strike scheduled to begin on Monday has been deferred following a meeting between the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) on Sunday night.

The development came after the two sides held talks ahead of the planned strike, which was expected to affect banking operations across the country.

The UFBU, an umbrella forum representing bank unions, had called for the three-day nationwide strike. The action was scheduled to begin on September 28.

Bank strike deferred after Sunday meeting

The decision to defer the strike followed an eleventh-hour meeting between representatives of the UFBU and the IBA on Sunday night.

The proposed strike had raised concerns about disruption to banking services for millions of customers. With the strike now deferred, the immediate three-day disruption that was scheduled to begin Monday will not take place as planned.

The development comes after earlier efforts by the government and bank managements to persuade the unions to defer the strike. The unions had been seeking, among other demands, the introduction of a five-day banking system.

What were the bank unions demanding?

The UFBU’s demands included the introduction of five-day banking. Other issues raised by the unions included improvements in pension-related matters, a uniform dearness allowance formula for pensioners and an option for employees covered under the National Pension System to move to the old pension scheme.

The proposed strike had been scheduled for September 28, 29 and 30. The timing had also raised concerns because September 26 and 27 were a Saturday and Sunday, respectively, while September 30 coincides with the half-yearly closing of banks.

Continue Reading

India News

LPU students protest over reported rape allegation, police call it rumour

Students at Lovely Professional University protested over a reported rape allegation involving a worker, with police describing the claim as a rumour.

Published

on

Students of Lovely Professional University (LPU) in Punjab staged a protest after an allegation involving the reported rape of a student by a worker at the university surfaced.

The protest led to disruption around the university, with students taking to the streets and blocking the Jalandhar-Phagwara National Highway, according to the report.

The allegation triggered anger among students, who demanded action over the reported incident.

Police describe rape claim as rumour

Police, however, described the rape claim as a rumour, indicating that the allegation had not been established as a confirmed incident.

The distinction is important because the reported sexual assault allegation should not be treated as a confirmed rape unless investigators or other authoritative sources establish that fact.

The protests nevertheless continued as students sought clarity and action over the issue.

Protest disrupts traffic

The student demonstration also affected traffic on the Jalandhar-Phagwara National Highway. The protest brought attention to the allegations and the concerns being raised by students at the university.

With police calling the claim a rumour, further verification and investigation would be necessary to establish what actually happened.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com