AT determined that the appellant, a former corporate MD, engaged ...

Corporate MD Faces Criminal Charges for Rs. 10 Crore Fraud Through Systematic Bribery and Fraudulent Tender Allocation

May 31, 2025

Case Laws Money Laundering AT

AT determined that the appellant, a former corporate MD, engaged in criminal misconduct by misappropriating governmental funds through fraudulent tender allocation to a medical equipment vendor. The ED substantiated proceeds of crime allegations by exposing fabricated property transactions and revealing systematic bribery mechanisms. Investigative findings demonstrated systematic financial irregularities involving approximately Rs. 10 Crores in illicit commissions. The tribunal conclusively upheld the Provisional Attachment Order (PAO), finding no substantive legal merit in the appellant's arguments, thereby dismissing the appeal and confirming the property attachment as legally valid.

View Source

← Previous Next →

AT determined that the appellant, a former corporate MD, engaged ...

Corporate MD Faces Criminal Charges for Rs. 10 Crore Fraud Through Systematic Bribery and Fraudulent Tender Allocation

May 31, 2025

Case Laws Money Laundering AT

You may also like:

Direct tax collection for 2024-25 fiscal narrowly achieved target, reaching Rs 22.26 lakh crore with 13.57% growth. Despite issuing record refunds of Rs 4,76,743 crore...

AT adjudicated a foreign exchange contravention case involving unauthorized receipt of funds from outside India. The tribunal found violations under Sections 3(c) and...

Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

Initiation of CIRP - Financial Creditors - When the cancellation of negotiated settlement was only on the ground that Respondent failed to allot 10 lakhs equity shares...

The Lok Sabha passed the Finance Bill 2025 with 35 government amendments, including the abolition of a 6% digital tax on online advertisements. This completes the lower...

Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

Disallowance of making charges - If the making charges rate as determined by the Revenue at Rs.3/- per gram has to be considered, the aforesaid karigar’s net profit...

The GOI officially refutes claims of proposed GST on UPI transactions over Rs.2,000, confirming no such taxation measure exists. CBDT has eliminated Merchant Discount...

ICAI's Suggestions for Review of Income Tax Act, 1961: Tax Deducted at Source (TDS) prosecution proceedings are appropriate only where deductors deliberately do not...

Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore - The Appellate Tribunal found that the appellant's gross receipts, when considering certain fee receipts...

Constitutional validity of amendments in Section 80HHC(3) brought by the Taxation Laws (Amendment) Act, 2005 - Deduction in respect of DEPB and DFRC benefits -...

The AT found the appellant's bank contravened FEMA provisions by allowing outward remittance without RBI approval, specifically violating Sections 6(3)(b), 10(5), and...

The GoI through DPIIT has revised eligibility criteria for Industrial Entrepreneurs Memorandum (IEM) acknowledgment, increasing investment thresholds for large-scale...

₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

The Indian Finance Minister's upcoming FY2025-26 Budget presentation focuses on critical fiscal metrics and consolidation targets. The government aims to reduce fiscal...

Quick Updates: