Cuttack-based businessman arrested for fraud, tax evasion

Jajodia had setup Subhlaxmi Enterprises, Maa Kalika Bhandara, Mahaveer Enterprises and Alli Agency and opened bank accounts in the name of these firms.

Published: 28th March 2017 08:31 PM  |   Last Updated: 28th March 2017 08:31 PM   |  A+A-

By Express News Service

BHUBANESWAR: The Economic Offences Wing (EOW) of the Crime Branch on Tuesday arrested a
Cuttack-based businessman on charges of evading taxes and registration of companies by using forged documents.

The accused, Pawan Kumar Jajodia, a resident of Raghunath Jew Lane in Cuttack was booked under the Prevention of Corruption Act by the State Vigilance in 2005. However, he had fabricated documents and established four companies in the name of his family members and opened multiple bank accounts to evade taxes.

In May 2012, the proprietor of Kohenoor Industries Md Asad Ahmed had partnered with Jajodia to run a grocery business. However, as Jajodia was already named in the Vigilance case, the Taxpayers Identification Number (TIN) of the firm was cancelled. He continued to engage in trading even after cancellation of the TIN, EOW sources said.

Jajodia had setup Subhlaxmi Enterprises, Maa Kalika Bhandara, Mahaveer Enterprises and Alli Agency and opened bank accounts in the name of these firms. According to the EOW, he had misappropriated taxes and fraudulently earned Rs 10.36 crore.

The EOW had conducted a search at Jajodia’s residence and seized several PAN cards in the name of Jajodia and his employees, Ashad Ahmed, Mashood Khan and two others. Other incriminating documents were also recovered.

On the basis of a complaint filed by the Commercial Taxes Department, the EOW has registered a case under Sections 466, 467, 468, 471, 420 and 120-B of the Indian Penal Code.

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