Top Stories

Bengaluru: IT raids bigwigs from fisheries industry, unearths Rs 195 crore


Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Feb 13: The income tax (IT) department, which had recently targeted medical and cooperation fields, turned its eyes at fisheries industry recently, it is learnt. It is said that the department has found undeclared property worth Rs 195 crore with three of the leading players in the field.

The officials conducted raids on fisheries industrialists based in the city and Udupi three days back. In addition to finding Benami properties, the officials also seized important documents about evasion of taxes and Rs 86 lac in cash. The officials also found that these industrialists are involved in undertaking Hawala transactions with a Chinese firm.

It is said that the IT officials, who kept close watch on financial transactions relating to fisheries since the last some months, got to know that three leading industrialists from coastal Karnataka were conducting business by hoodwinking the government. A team of 150 officials including seniors got into the act.

On February 8, offices and residences of the industrialists at Udupi and city, houses, offices at Mangaluru, Bengaluru, Hubballi, Panaji, Belagavi etc were searched. In an official statement, the department confirmed that it has got to know about illegal activities of the concerned. The officials also said that the industrialists were found to have violated Benami Properties Transfer Act 1988. They also found that these industrialists had obtained certificates about their products being of high quality, by influencing laboratories and processing centers. The officials said that they found that the fish oil supplied by them was of substandard quality although the certificates stated otherwise. They also stated that acting in other names, these industrialists also misused diesel subsidy.

It is learnt that they evaded tax by distributing their annual income among family members, employees, relatives etc, besides showing fisheries industry income under agricultural income. They also had violated the Customs Act by importing fish food from foreign country and exporting the same product abroad. In the purchase of machinery, they undervalued the machinery and avoided tax liability, the department said.

These industrialists hosted grand parties for people who were involved with them in business. It was found that a China-based company had invested in the business of these fisheries industrialists. The Chinese company paid commission to them through illegal Hawala deal. Hawala fund transfers to Mauritius, Oman, Africa etc were found and records pertaining to foreign investment and finances were recovered. The officials said that Black Money (undisclosed foreign income and assets) Act was also violated by these people.


Top Stories

Comment on this article

  • Kenneth, Kulai

    Wed, Feb 14 2018

    I think its all made up ahead of elections. We just believe in what we see. That's what the politicians wants us to be happy about. The truth is still hidden.

    DisAgree [1] Agree Reply Report Abuse

  • Dr Kusuma Kumari G, Nellore

    Tue, Feb 13 2018

    Enemies of the society are four
    1) Tax evaders

    2) People who sell illegal Alcohol


    3) People who blackmail and extort money

    4) Private financiers who charge exorbitant interest

    DisAgree [4] Agree [14] Reply Report Abuse

  • Anonymous, Udupi

    Tue, Feb 13 2018

    These 3 big fish industrialists of mogaveer community, whose names have already been published earlier, are known for their lavish parties involving expensive single malt whisky or blue label scotch, and tiger prawns, big sear fish, and fresh pomfrets, even when such fish is not available in malpe or udupi market . I know this for a fact.

    DisAgree [1] Agree [43] Reply Report Abuse

  • geoffrey, hat hill

    Tue, Feb 13 2018

    That's quite a salivating/mouth watering narrative!

    DisAgree [2] Agree [31] Reply Report Abuse

  • Anonymous, Udupi

    Tue, Feb 13 2018

    Geoffrey,
    What to do sir. In most peoples home parties it is mostly chicken 65 or chicken sukka washed down with Black Dog whisky at best. These people's parties it is unlimited, expensive food and drink...

    DisAgree [1] Agree [23] Reply Report Abuse

  • Anuj, Malpe

    Tue, Feb 13 2018

    Better Mr Anonymous for you to keep attending such parties and enjoying whiskey and seafood

    DisAgree [2] Agree [7] Reply Report Abuse

  • Kishore Kumar, Mangaluru

    Tue, Feb 13 2018

    Ban fishing export, everything will be solved.

    DisAgree [6] Agree [26] Reply Report Abuse

  • Peter saldanha, Udupi

    Tue, Feb 13 2018

    Fishermen are most pampered community in Karnataka with subsidies, loans and all kind of facilities provided, common man can not afford fish, most of the catch they exportm, in Goa and Maharashtra govts dont give a damn to them.

    DisAgree [4] Agree [33] Reply Report Abuse

  • Vipin, Hejamadi

    Wed, Feb 14 2018

    My dear friend, now fishing doesn't belong to any one particular community. Major investments in fishing today is from across the Religion & communities. Even people working in these boats are not from Mangalore / Udupi these days.

    DisAgree Agree [3] Reply Report Abuse

  • G R PRABHUJI, Mangalore

    Tue, Feb 13 2018

    Why IT dept is not discloseing the name of industry? I feel Dal main Kutch Kala hai.

    DisAgree [9] Agree [37] Reply Report Abuse

  • sanith, tumbey/Lucknow

    Tue, Feb 13 2018

    Very well said. Daal mein jyada hi kala he. This is our problem with our democracy, in which bureaucrats are in the hands of Politicians. We are too busy inside parks, mohallas etc for moral policing, cow watch, love watch, the list is on and on. Where is the time & energy to measure development??

    DisAgree [4] Agree [26] Reply Report Abuse

  • Haneef, Mangalore

    Tue, Feb 13 2018

    Until under table contact won’t be settled names can’t be published it’s very simple. Come on yaar it’s common sense.

    DisAgree Agree [14] Reply Report Abuse

  • Sanjay, Hebri

    Tue, Feb 13 2018

    1300 people got their share of 15 lakh

    DisAgree [6] Agree [29] Reply Report Abuse

  • ThomasAquin, Mangaluru

    Tue, Feb 13 2018

    All comments are trying to imply the current MLA of Udupi. Sorry guys. You all will be pleased to know that the current MLA (Congi) is the biggest tax payer and he wasn't raided

    DisAgree [6] Agree [60] Reply Report Abuse

  • Viviab, Mangalore

    Tue, Feb 13 2018

    Iam with you TAM..

    DisAgree [3] Agree [19] Reply Report Abuse

  • Ronald D, Udupi

    Tue, Feb 13 2018

    You are right Thomas. Other party people too should learn to pay tax though there is no IT raid.

    DisAgree Agree [19] Reply Report Abuse

  • Sohrab, Karnataka

    Tue, Feb 13 2018

    Now its time to Raid the Rich and Super Rich coffre planters.

    DisAgree [4] Agree [36] Reply Report Abuse

  • Stan, Udupi/Dubai

    Tue, Feb 13 2018

    Selective raids on supporters of only opposition parties will not help them in elections. Departments have become like bonded labourers of political parties. Why they not raided Reddy when mega marriage took place. Will they show same courage to raid Big industrialists who are supporters of ruling party .

    DisAgree [8] Agree [34] Reply Report Abuse

  • Sahil, Mangalore

    Tue, Feb 13 2018

    Jai ....Jay amit shah . Role model to follow .

    DisAgree [13] Agree [30] Reply Report Abuse

  • Jossey Saldanha, Mangalore

    Tue, Feb 13 2018

    Now raid rich Farmers 😁😁😁

    DisAgree [18] Agree [24] Reply Report Abuse

  • DBS, Udupi

    Tue, Feb 13 2018

    Jossey
    Farm income is exempt from taxable income. Can you your general knowledge please?

    DisAgree [3] Agree [17] Reply Report Abuse

  • Vineet, Mangalore

    Tue, Feb 13 2018

    The word 'Farmer' is wrongly interpreted in today's politics. It is not the one who does hard work at the fields 24/7 and cultivates his land for his daily bread. Rather, the so called farmer is the one who owns acres of land, take loans from the bank by pledging it ( and never repay it), convert the land for commercial purposes etc... etc.... Such farmers are never happy on whatever the schemes come from any Govt. They keep crying.

    DisAgree Agree [11] Reply Report Abuse

  • Raj,, Udupi

    Tue, Feb 13 2018

    IT people caught BIG fish without Boat and net.

    DisAgree [3] Agree [26] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangaluru

    Tue, Feb 13 2018

    If IT raids other places also may find concealment of income and tax evasion

    DisAgree [1] Agree [12] Reply Report Abuse

  • Rampanna, Udupi

    Tue, Feb 13 2018

    Who are these three "industrialists"? Could we get some idea of their identities?

    DisAgree Agree [52] Reply Report Abuse

  • JAGDISH, mumbai

    Tue, Feb 13 2018

    THEY WILL NOT MENTION BECAUSE IT WILL HURT THE DONGIS.

    DisAgree [40] Agree [25] Reply Report Abuse

  • geoffrey, hat hill

    Tue, Feb 13 2018

    IT department reports to the center

    DisAgree [3] Agree [25] Reply Report Abuse

  • Naveen, surathkal

    Tue, Feb 13 2018

    If it was Congi Supporters then IT dept would have released the name within seconds of raid to embarrass the State GoVt

    DisAgree [9] Agree [40] Reply Report Abuse

  • Dr.S.Kamath, Mumbai

    Tue, Feb 13 2018

    This is exactly the reason why Dongees always slammed the Demonetization and GST and IT Raids
    Now Pay the Tax with penalty .Let the Money be used for giving free Cooking Gas ,Electricity and Medical facility for the Poor of India by Modi Govt

    DisAgree [64] Agree [34] Reply Report Abuse

  • geoffrey, hat hill

    Tue, Feb 13 2018

    By clubbing IT raids with mindless Demonetization and GST, stupidity of the latter can't be justified nor can the dent of 1.5 lakh crores to the GDP be mended. Let them at least speed up counting the demonetized notes and come up with a credible figure by the turn of this century!

    DisAgree [14] Agree [42] Reply Report Abuse

  • Ramesh S, MANGALORE

    Tue, Feb 13 2018

    ..that notes already became junk, why to count now..dispose off it..by the way any Congressmens industry raided, curious to know

    DisAgree [15] Agree [12] Reply Report Abuse

  • Satya, Mangalore

    Tue, Feb 13 2018

    What is the connection between Demonetization, GST and IT raids?

    IT raids have always been taking place and will continue,

    whereas the demonetization is a flop exercise where more money than that was in circulation has come back and the Reserve Bank has to solve the mess created by this foolish move.

    GST is again a half baked exercise which the government itself knows has failed badly, but their false ego is preventing them from accepting it.

    DisAgree [6] Agree [21] Reply Report Abuse

  • Rathan, Mangalore

    Wed, Feb 14 2018

    Satya
    There is no account of 500s and 1000s note printed between 2008 to 2013 .more than this there is difference between note sent from printing press to RBI currency chest
    So actual notes in circulation was far more than what RBI is saying
    Demonization was a thumping success where as lot of politicians lost a huge sums that is why they r against demonization

    DisAgree [2] Agree [3] Reply Report Abuse

  • alan, mangalore/U.SA

    Tue, Feb 13 2018

    Kamath , Its time to raid the Doctors . this should have been done on a war footing & also the quality of doctors practicing leaves a lot to be desired. Demonitsation was a stupid futile exercise , It paved the way for china to leave us far behind. Feku has made us a laughing stock in front of the whole world.

    DisAgree [2] Agree [12] Reply Report Abuse

Leave a Comment

Title : Bengaluru: IT raids bigwigs from fisheries industry, unearths Rs 195 crore


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image