Two CAs booked for allegedly facilitating ₹4,427 crore remittances abroad

The accused, Ankushkumar Bagrecha and Mohit Todi, 33, both from Kondhwa, allegedly committed the offences between 2022 and 2026

Two directors of a chartered accountant firm have been booked for allegedly preparing fake tax certificates and facilitating the remittance of ₹4,427.92 crore abroad, causing alleged tax evasion and loss to the government.

When contacted by Hindustan Times, Ankush Bagrecha said, “His lawyer will reply to media queries.” (REPRESENTATIVE PIC)

The accused, Ankushkumar Bagrecha and Mohit Todi, 33, both from Kondhwa, allegedly committed the offences between 2022 and 2026 at Shiv Samruddhi Arcade on Katraj-Kondhwa Road, police said.

Tanmayi Suhas Desai, 31, an assistant director with the Income Tax Department, lodged the complaint at Yewalewadi police station.

According to the complaint, the accused and others allegedly prepared Form 15CB certificates for overseas remittances without verifying documents related to transactions involving shell or bogus companies. They allegedly uploaded the certificates as genuine on the Income Tax Department’s portal during financial years 2022-23 to 2025-26.

They also allegedly prepared and submitted Form 15CA without authorisation, police said.

The transactions involved three companies and ₹4,427,92,44,408 was allegedly remitted abroad over four financial years. The complainant alleged that taxes payable on the transactions were evaded.

When contacted by Hindustan Times, Ankush Bagrecha said, “His lawyer will reply to media queries.”

Police officials were unavailable for comment.