The court of additional sessions judge Neeru Kamboj has dismissed the bail application of Aniket Verma, 26, of Kalka, accused of causing a loss of ₹19.02 crore to the government exchequer through fraudulent Input Tax Credit (ITC) claims.A case was registered against him for offences under the CGST Act on June 10 on the complaint of a senior intelligence officer of the directorate general of GST Intelligence, Chandigarh zonal unit.
According to the prosecution, Verma was the proprietor of M/s Balaji Trading Company, a fictitious firm with a registered office in Parwanoo, which was found locked during inspection. Investigations revealed that Verma was operating three firms — two in his own name and one in his wife’s name. All registrations were suspended after officials found fraudulent ITC claims without actual supply of goods or services. M/s Balaji Trading Company allegedly availed ITC of ₹12.47 crore on fake invoices worth ₹69.27 crore. His second firm, M/s Aniket Steel and Brothers, availed ITC of ₹6.02 crore on bogus supply of ₹33.44 crore. The third, M/s NV Industrial Corporation, registered in his wife’s name, was created to secure a business loan.
The probe also found that e-way bills falsely showed light passenger cars transporting heavy goods like MS scrap and cement, far exceeding vehicle capacity. Officials concluded the transactions were fictitious only to fraudulently avail ITC.
{{/usCountry}}The probe also found that e-way bills falsely showed light passenger cars transporting heavy goods like MS scrap and cement, far exceeding vehicle capacity. Officials concluded the transactions were fictitious only to fraudulently avail ITC.
{{/usCountry}}While Verma’s counsel argued he was falsely implicated, the court held no grounds existed for bail at this stage.