Himachal CID nabs director of company; suspected scam of multiple crores !!

accused was produced in a local court at Paonta Sahib

Action has begun in another of the major scam that may involve Rs 6000 crores fraud.

Sources said that the Himachal CID officials have now arrested a director of Paonta Sahib-based firm Indian Technomac Company Limited in what is now being assessed to be multi-crore fraud.

The accused director has been identified as Vinay Kumar Sharma, who is son of IAS officer M L Sharma.

The accused was produced in a local court at Paonta Sahib which remanded him in Police (CID) custody till March 24.

It is said that the company closed the manufacturing operations surreptitiously in March 2014 and its officials disappeared from Jagatpur village of Paonta Sahib, where the unit is situated.

It is alleged that the wages of the staffers were not paid apart from EPF, Income Tax, Sales Tax and electricity charges amounting crores of rupees.

The CID team now is currently looking to nab main accused Rakesh Kumar Sharma, MD of the firm, but is not sure whether he has fled the country.

The Excise and Taxation Department has claimed that it has suffered a loss of Rs 2,175.51 crore due to tax evasion.

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