KOCHI: Confident Group Managing Director T A Joseph on Monday strongly denied rumours of violations under the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA), asserting that the company has zero liability and that all its projects in Kerala and elsewhere are progressing without disruption.
Addressing a press conference here, Joseph said the Income Tax (IT) inspections conducted at the group’s premises were routine and dismissed allegations of harassment by tax authorities.
“To my knowledge, the Confident Group has not faced any harassment from IT officials. They treated us with respect. Routine GST inspections have also taken place in the past,” he said.
Joseph began the press meet by stating that he could not comment on the death of Confident Group Chairman C J Roy, citing strict directions from the Special Investigation Team (SIT), Karnataka.
“I worked with C J Roy for more than 20 years. He was a great motivator and a strong brand builder with over 40 lakh followers on social media,” Joseph said.
Responding to queries on statements made by Roy’s brother, Babu Roy, who had alleged that Roy was under stress due to IT raids and harassment, Joseph rejected the claim. “We were with Roy all the time, and personally I do not feel that he faced any harassment. Roy was not someone who would tolerate harassment,” he said.
Referring to what he described as misleading information being circulated about the group, Joseph said it had created unnecessary concern among clients. “Our projects are progressing smoothly and we do not have any liability. Confident Group is a zero-debt company. We are a reputed firm and have never cheated anyone,” he added.
Joseph also denied reports that prominent personalities from the film industry had invested in the Confident Group. “There are no such investments. Once again, I reiterate that the group has zero liabilities,” he said.
Highlighting the company’s performance during the COVID-19 pandemic, Joseph said the group continued operations without any slowdown. “Even during the pandemic, we recorded sales of ₹16 crore. We have a credible track record and are satisfied with the ongoing investigation,” he added.