Latur, Aug 25 (PTI) A chartered accountant from Latur district of Maharashtra, booked for allegedly issuing certificates that facilitated the transfer of hundreds of crores abroad through 16 shell companies, has been arrested, an official said.
The accused, identified as Shyam Kalani, was remanded to police custody for nine days by a court in Udgir on Monday, said Udgir City police inspector Bhusnur.
The case was registered on August 21 following an FIR based on findings from a survey conducted by the Income Tax Department.
According to the FIR, Kalani allegedly issued 1,810 certificates in Form 15CB under the Income Tax Rules for the remittance of funds abroad without carrying out the required verification of the underlying documents.
Form 15CB is issued by a CA in connection with certain payments or remittances to non-residents and certifies relevant taxability and tax-deduction details before funds are remitted through an authorised dealer or bank.
Police alleged that the certificates facilitated the transfer of hundreds of crores abroad through 16 alleged non-existent or shell companies between April 1, 2022, and March 31, 2026.
The case has been registered under Sections 318(4) (cheating), 234 (issuing or signing a false certificate), 229 (false evidence) and 3(5) (common intention) of the Bharatiya Nyaya Sanhita.
The investigation has been transferred to the Economic Offences Wing (EOW) of Latur Police, officials said. PTI COR NSK
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.