FIR against 80 in Rs 2 billion scam: irregularities under the guise of oil cake trade

FIR against 80 in Rs 2 billion scam: irregularities under the guise of oil cake trade; The one who complained in Indore also turned out to be a defaulter

The Economic Offenses Wing (EOW) in Ujjain has registered a case against Agarwal Soya Extract Private Limited Company and 36 fake firms in a scam of Rs 2 billion. On Wednesday, 80 people were made accused in this two-year old case.

According to EOW, Aggarwal Soya committed a total scam of Rs 1.98 billion, including tax evasion of about Rs 10 crore. A case has been registered under sections of embezzlement and fraud for causing harm to the government. The big thing is that EOW has also made the Indore businessman who complained an accused.

EOW Inspector Anil Shukla said that in 2019, CGST (Central Goods and Services Tax) had received a complaint of tax evasion against Agarwal Soya Extract Private Limited Company (Dhamania, Neemuch). While the CGST team was investigating, Kapil Trading Company of Indore informed the EOW in its complaint that along with Agarwal Soya, other fake companies have also embezzled crores of rupees.

Investigation revealed that 80 people including Agarwal Soya Company owner Gopal Singhal, Deepak Singhal had created 36 fake companies for fraud. These companies have so far committed a scam of Rs 2 billion under the guise of business of cake and oil.

Agarwal Soya Extract Private Limited Company, in collaboration with 36 bogus firms and their owners, prepared fraudulent invoice bills and bills between 2017 and 2022. Showed fake buying and selling of soybean DOC (de-oil cake).

Gopal Singhal, Shalini Singhal, Deepak Singhal, Navneet Garg, as the owners of their company Agarwal Soya, made a fraud of Rs 2 billion and Rs 10 crore by billing fake transport company – Narayan Freight Carrier (Adarsh Nagar, Indore) and other bogus firms. Also committed tax evasion.

Complained to avoid action, was himself caught in the investigation

EOW Inspector Anil Shukla said that the names of the accused, whom they named as directors to create fake companies, are also fake in the records. Kapil, the owner of Kapil Trading Company of Indore, who complained about the matter, also turned out to be among the defaulters. Kapil’s company is also included in the fake companies. He had complained to avoid action. However, his lie was caught during investigation.