I-T dept finds evidence against Welingkar boss
The income-tax department has found evidence that professor Dr Uday Salunkhe, director of LN Welingkar Institute of Management Development and Research, and his associates collected Rs 3 crore as capitation fees.mumbai Updated: Nov 22, 2010 01:38 IST
The income-tax department has found evidence that professor Dr Uday Salunkhe, director of LN Welingkar Institute of Management Development and Research, and his associates collected Rs 3 crore as capitation fees.
The investigation wing of the I-T department had raided 8 premises in Mumbai and Pune, including Salunkhe’s house in Chembur, his office situated in the institute at Matunga and some of his colleagues, who collected the cash (capitation fees) on his behalf and others who concealed or invested his money.
A senior I-T officer said that though Salunkhe refused to admit that he was collecting capitation fees, the department got documentary evidence from Salunkhe’s house, his office and residences of his colleagues who were also raided. The officer said that the department has got a list of students from whom the capitation fees were collected.
When I-T officers questioned Saunkhe about the evidence of capitation fees found at his residence, he told them he collected the same because some trustees wanted it. “He has put the blame on the trustees saying that it's was them who are collecting capitation fees," the officer said.
The officers also found foreign currency worth Rs 3 lakh from the residence of one of salunkhe's associates. “Since the same was not declared, we seized it,” the officer said.
Repeated attempts to contact Salunkhe turned futile as his residence phone was going into voicemail.