Property details of Paonta firm submitted before HC

Vijay Arora

Shimla, July 18

The Enforcement Directorate has submitted the details of the properties of Indian Technomac Company and its Directors in a sealed cover before the High Court.

During the course of hearing, it was informed to the court that in compliance of the directions passed by the court on previous date, the Enforcement Directorate as also the Superintendent of Police, Cyber Crime has filed their respective affidavits mentioning therein the details of the properties of the company and its Directors.

After perusing the same, Justice Tarlok Singh Chauhan observed, “Let copies thereof be circulated between the parties so as to enable them to render effective assistance to this court.”

It was further informed to the court that steps have also been taken for the auction of the properties. After hearing the matter the court listed it for further hearing on July 23.

In its earlier order, the court had directed the Directorate of Enforcement and state CID to file their respective affidavits disclosing the property details of the firm and its Directors that have surfaced during the course of their investigation.

The court passed this order on a Company Petition filed by other stake holders of the company claiming their share in the company assets.

The management of Indian Technomac Company Limited is allegedly involved in the multi-crore embezzlement case. The Economic Intelligence Unit of the Excise and Taxation Department had detected this fraud on February 18, 2014, as a huge mismatch was found in the return filed by the company and the VAT-26-A declarations. The company was manufacturing steel and raw materials, ferro alloys and steel ingots and it had become liable to pay tax from January 2008.

A case had been registered for criminal conspiracy, cheating and forgery in this matter in April 2016 by the CID. An FIR had been registered against the company management in 2016 by the CID. The scam was detected in 2014.

Steps under way for property auction

• It was informed to the court that steps have also been taken for the auction of the properties. 
• The management of Indian Technomac Company is allegedly involved in the multi-crore embezzlement case. 
• The Economic Intelligence Unit of the Excise and Taxation Department had detected this fraud on February 18, 2014, as a huge mismatch was found in the return filed by the company and the VAT-26-A declarations.