I-T report red-flagged Nirav Modi, Choksi dealings months before PNB scam
A
crucial Income Tax investigation report, prepared 8 months before the PNB
scam, on fugitive diamond jewellers Nirav Modi and Mehul Choksi
highlighting bogus purchases, huge over-valuation of stocks, suspicious
payments to relatives, dubious loans among other information was not shared
with other law enforcement agencies as there was “no protocol”, The Indian
Express has reported.
The
report said the tax department, before February 2018, also did not share its
findings through the Regional Economic Intelligence Council (REIC), a mechanism
for sharing of information between various law enforcement agencies
The
tax department report on Nirav
Modi and Mehul
Choksi, which ran into around 10,000 pages, was finalised by the agency
on June 8, 2017.
However,
it was not shared with other agencies like the Serious Fraud Investigation
Office (SFIO), Central Bureau of Investigation (CBI), Enforcement Directorate
(ED) and the Directorate of Revenue Intelligence (DRI) until February 2018,
when the Punjab National Bank (PNB) scam became public, according to the
report.
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