9911796707
TMI Blog2023 (8) TMI 401X X X X Extracts X X X X X X X X Extracts X X X X ..... Chirag Shah with Ms. Rajini Yadav i/b. Lex Firmus. P.C:- This is a Reference case under Section 21(5) of the Chartered Accountants Act, 1949 (the Act) which was in force at the relevant time. Pursuant to a complaint lodged by the Additional Director, Directorate General of Central Excise Intelligence, Mumbai (Complainant) against Respondent who was partner of M/s. Anant Parekh & Co., The Inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ysically exported. Detailed probe revealed that M/s. Amreet Impex was using forged documents to show export when in reality no export was taking place. M/s. Amreet Impex was found to have evaded Central Excise and Customs duties to the tune of Rs. 86 lakhs approximately in a short period of two months from November 2001 to December 2001. 3. During the course of inquiry, it was found by Complainan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding to Complainant, the Solvency Certificate was issued without mentioning the details/ addresses of said properties and investments. It is Complainant's case that any recovery of Government dues illegally obtained by fraudulent means by M/s. Amreet Impex was not possible because of the "unbecoming and casual approach on the part of Respondent" and that has caused a loss of Rs. 60 lakhs to the Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was careless in his duties. We also wonder, if the Solvency Certificate was acceptable when it was filed, certainly it cannot become unacceptable during the course of carrying out investigation. Even as per the statement of Respondent recorded by Complainant, Respondent has categorically stated that he relied on certain documents produced by Shri Dhanraj Sodhi before issuing a Solvency Certificat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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