Fake gold sales case: Musaddilal Jewellers opened account in Axis Bank
10 Dec 2016 3:00 AM IST
IT department had alleged Mallesh, Sundar and Basha, at the behest of Nitin Gupta of Musaddilal Jewellers Pvt Ltd deposited the money.
A case was booked against Musaddilal Gems and Jewellers Pvt Ltd, Vaishanavi Bullions, Musaddilal Jewellers Pvt Ltd of Banjara Hills, and Nitin Gupta and S Mallesh, the directors of these companies. (Representational image)
Hyderabad: Vaishnavi Bullions Pvt Ltd — named in the fake gold sales case — deposited Rs 40 crore in Axis Bank by opening a new account on November 10, after the demonetisation announcement. Deposits were also made in SBI.
In its complaint, the income-tax department had alleged Mallesh, Sundar and Basha, at the behest of Nitin Gupta of Musaddilal Jewellers Pvt Ltd deposited the money, claiming it to be cash advances of 2,100 customers.
A case was booked against Musaddilal Gems and Jewellers Pvt Ltd, Vaishanavi Bullions, Musaddilal Jewellers Pvt Ltd of Banjara Hills, and Nitin Gupta and S Mallesh, the directors of these companies.
( Source : Deccan Chronicle. )
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