Redington India Ltd is involved in investigation. Call it a sheer case of mismanagement or negligence, but Redington India is under scanner of the Mumbai Octroi collection authorities these days. A recent incident indicates that the distribution major is in trouble due to the Octroi tax evading activities. The DQWeek has in its possession an exclusive BMC document related to the issue. The income tax department has to look in the bank fraud.
BMC inquiries revealed that something was missing in the Octroi tax receipts, collected by BMC officials from April 1, 2011 to January 31, 2012, from end-users. It noticed that the receipts did’nt match the details. It included tax receipt number that fed on Octroi website. The distributors provided it to the tax collection authorities as a whole.
Hence, fake tax receipts found stipulated. Therefore, Redington India Ltd failed to submit further details for investigation.
When P S Neogi, president, IT products, Redington India, was asked about this case of fraud, he stated, “I do want to comment on this issue. Neither do I deny or agree to this matter.”
However, a BMC official, under the request of anonymity, confirmed that investigations are under process over the issue. According to the internal sources a separate investigative agency formed to look into the matter.
Meanwhile, until next investigation the products supplied from Redington India to Mumbai seized .
Against the proposed move Redington given an opportunity to approach Dispute Resolution Panel. Only after hearing their defense will the Panel will pass the final order.
Tax fraud is increasing day by day. Important steps taken against the company to curb the bank frauds. It alleged that the company has done something in the tax fraud.
Redington India regarded as a vast company. In a huge Octroi case its involved. Therefore, in the investigation process the company involved.