VAT scam: Pharmaceutical firm vice-chairman in judicial custody

Vipin Mishra, a former accountant with Ind Swift, was arrested on September 12. Police said the company was supposed to pay Rs 5.9 crore VAT for a period of six months in 2011, but paid only Rs 5,000 and produced a forged receipt before a VAT tribunal.

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CHANDIGARH: The district court remanded N R Munjal, vice-chairman, Ind-Swift pharma firm, to 14-day judicial custody. Munjal was arrested for his alleged involvement in the VAT evasion scam that rocked the city’s excise department this August. He was produced in court and remanded in two-day police custody.

While police claimed he was arrested from near PGI, his counsel maintained that he surrendered earlier this week. A vigilance department probe found that around 900 companies had not paid value added tax (VAT) and statutory dues running up to Rs 593 crore to the excise department since 2011.

Vipin Mishra, a former accountant with Ind Swift, was arrested on September 12. Police said the company was supposed to pay Rs 5.9 crore VAT for a period of six months in 2011, but paid only Rs 5,000 and produced a forged receipt before a VAT tribunal.

On suspicion, the tribunal marked a probe to the Vigilance department, following which the scam was unearthed and an FIR was registered in August this year.

Munjal told the court that he was not named in the FIR and was a non-executive director who did not take part in the company’s day-to-day affairs. However, police said evidence ran contrary to the statement. Dismissing Munjal’s plea on November 27, the HC said the petitioner was not entitled to anticipatory bail in view of the nature and gravity of the offence.

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