Man who disclosed Rs 14,000cr black money goes missing

December 3, 2016

Ahmedabad, Dec 3: A businessman from Gujarat has disappeared after disclosing unaccounted earnings of Rs 13,860 crore under the Centre's Income Declaration Scheme (IDS).

Black
Mahesh Shah, 67 , lived in a 4-BHK apartment in an old building in Ahmedabad, and was known to take an autorickshaw to work. The billionaire also owed money to neighbours.

Shah's cash disclosures account for more than 20% of the total Rs 65,000 crore declared under IDS in India. However, in his income tax returns for the past 2-3 years, Shah had shown his annual income as Rs 2 lakh to Rs 3 lakh.

Income tax department sleuths carried out searches at Shah's residence and his chartered account Tehmul Sethna's office and residence from November 29 to December 1. "The last time I talked to Shah was on November 29 in the presence of I-T officials. Ever since, he is inaccessible," Sethna, a partner in the 90-year-old CA firm Appaji Amin & Co, said on Friday.

Shah, a big-ticket land dealer with business interests in Gujarat, Mumbai and Pune, had declared his income on September 30 -the last date for disclosures under IDS. The first instalment of Rs 1,560 crore, 25% of the 45% tax imposed on his declared income, was to be paid on November 30. However, Shah's declaration form was cancelled by the I-T department on November 28.

Sethna claimed that Shah's declaration was cancelled after I-T officials, following a search, felt he would not be able to pay the amount. "I-T department suspects the possibility of money laundering through income disclosed by Shah," he said. The I-T department, however, said there was no co-relation between Shah's IDS declaration and the search operations.

"It was sheer coincidence that premises of Shah and his business associates were among 67 places searched following market intelligence about illegal currency exchange in Ahmedabad after demonetisation. We had no inkling of Shah's disclosure under IDS, which is being handled by the assessment branch and is confidential. We have seized Rs 40 lakh in cash and jewellery worth Rs 30 lakh from Shah's business associates," said a senior I-T officer.

Shah and Sethna came into contact in 2013 when the former approached the CA for tax advice in a land deal. "The land deal never materialised but Shah kept in touch. Shah was not a regular client and I have never filed Shah's income-tax returns," Sethna said. He conceded that he never doubted Shah's credentials though the latter possessed huge amounts of cash. He said Shah had contacts with highly influential people, including politicians, and put up only at five-star hotels in Mumbai.

Shah's son Monitesh, 32, said, "He (Shah) is in Mumbai but I have no idea about his whereabouts."

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May 4,2024

Mangaluru: Dakshina Kannada Deputy Commissioner (DC) Mullai Muhilan MP said that election for the South West Teachers and Graduates constituencies will be held on June 3.

The notification for the same will be issued on May 9. The last date for filing nominations is May 16. The nominations must be submitted to Regional Commissioner in Mysuru and the last date for withdrawal of nomination is May 17.

The counting of votes will be held on June 6.

As of December 30, 2023 there are 6753 voters in DK district in the South West Teachers Constituency out of which 4520 are women. On the other hand, there are 16,869 graduate voters in the district for the South West graduates constituency.

The voters can submit their application for enrollment in electoral list of the South West Teachers and graduates constituency till May 6. The applications can be submitted at Mangaluru City Corporation or all the taluk offices.

Bulk applications can be submitted by Bar Association, Doctors association, Chartered Accountants Association, registered engineers association for the graduates constituency.

Those who are graduates prior to November 11, 2020 can enroll for voters list in the graduates constituency  by submitting Form 18 along with photo copy of marks card, Aadhaar card, voters' identity card and residential address.

For getting oneself enrolled in the teachers constituency voters, an individual should be teaching for minimum three years prior to November 1, 2023 in high school or higher educational institutions.

For the teachers constituency, educational institutions can submit applications in bulk. If wrong details are furnished in these applications, then they will be punishable under Section 31 of Representation of People Act, warned the DC.

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May 12,2024

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Bengaluru: Karnataka Home Minister G Parameshwara on Sunday said that the Special Investigation Team (SIT), probing into sexual abuse charges against Hassan MP Prajwal Revanna, will not be going abroad to bring him back, and the Interpol will share information about him.

He also cautioned political leaders about making public statements or sharing information in connection with the case, which is sensitive.

The 33-year-old Prajwal Revanna, who is grandson of JD(S) patriarch and former Prime Minister H D Deve Gowda, is facing charges of sexually abusing several women.

The scandal has raised a political storm with the ruling Congress and BJP-JD(S) engaged in a slugfest.

Prajwal Revanna is said to have flown abroad on April 27, a day after the first phase of Lok Sabha polls in Karnataka was held.

He was BJP-JD(S) alliance's joint candidate from Hassan Lok Sabha segment, which went to polls in the first phase.

"No, there is no such option. Blue Corner Notice has been issued and the Interpol will share the information. The respective country in which he is found or identified - they will inform them (Interpol) and then our agencies, the CBI will get to know, and through them we will get to know."

"So far there is no information," Parameshwara said.

He was responding to a question on reports about the SIT team travelling abroad in connection with the case.

Speaking to reporters, he said, "Investigation is going on, not to affect the investigation we don't want to share any information."

Responding to a question on Union Minister Pralhad Joshi's statement alleging conspiracy behind the arrest of BJP leader Devaraje Gowda, for making allegations against Congress leaders in connection with the case, Parameshwara said, "If anyone says anything I cannot react to it. We cannot respond to every public statement. As this is a serious case, we cannot share information until the investigation is completed."

"My request to the public and to our leaders is to be cautious while making statements. If not, based on the statements given by them, we may have to call them for investigation and record their statement under 41 A of CrPC," he added.

Asked whether JD(S) leader H D Kumaraswamy will also be served notice, the Minister said he is a former CM and that he believes that the former has taken this case seriously.

"Before giving any statements on this case or before sharing any information in the public domain, one has to be cautious, and this applies to all," he added.

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News Network
May 17,2024

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Bengaluru: The India Meteorological Department (IMD) on Friday forecast heavy rainfall and thunderstorms in a few districts of Karnataka and said Bengaluru is likely to witness light to moderate rain and thunderstorms, with temperatures ranging from 30 degree Celsius to 22 degree Celsius in the next 24 hours.

Shivamogga, Chikkamagaluru, Kodagu, Hassan, Mysuru, Mandya, Chamrajanagara, Udupi and Dakshina Kannada districts are likely to experience heavy to very heavy rainfalls between May 17 and 21, said C S Patil, Director of Meteorological Centre, India Meteorological Department, Bengaluru.

According to India Meteorological Department, some places in Kodagu, Hassan, Mysuru, Mandya and Tumukuru districts will also witness, gusty winds (40-50 kmph) on May 18.

Moderate rain and thundershowers are also likely in Chikkaballapura, Chitradurga, Davangere, Kolar, Ramanagara and Vijayanagara districts.

IMD also predicts light to moderate rain very likely at some places over Bagalkote, Belagavi, Bidar, Dharwad, Gadag, Haveri, Kalaburgi, Koppal, Raichur and Yadgir districts.

On May 16, Channagiri in Davanagere district received the highest rainfall of 6 cm. 

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