New Delhi, Jan 18 (PTI) The Income Tax department hassummoned some high-networth individuals (HNIs), who wereallegedly duped in Rs 400 crore fraud at Citibank, to obtaindetails of their investments and tax payments.
Sources familiar with the development said the departmentis trying to ascertain the flow of money and check if taxeshave been evaded by these HNIs -- by way of non-reporting thefunds that they put in the "investment scheme" -- or by thealleged mastermind of the fraud Shivraj Puri, a relationshipmanager with the bank''s Gurgaon branch who dealt with them.
The department, which has begun summoning the HNIs in aphased manner, will also probe the angle of unaccounted moneywhich was pumped into the stock market, and whether it couldhave been laundered.
"Such an information on money laundering will be passedon to the Enforcement Directorate," sources said.
The entities whose funds were diverted by Puri into theaccounts of his relatives include Hero Corporate Services(Rs 13.75 crore), OKS Sapan Tech (Rs 2 crore) and Satyam Auto(Rs 25 crore).
Others include Mayar Infratech (Rs 24 crore), Spaid (Rs62 crore), Karopat Pad (Rs 8 crore), Sunil Kant and Sons (Rs 3crore), Aero Infratec (Rs 25 crore), Hero Exports (Rs 97crore), Rekha Munjal (Rs 5 crore), Munjal Investments (Rs 2.5crore) and Munab Braej (Rs 71 crore).
The department, according to sources, will question Purionce it obtains preliminary information on the investments andthe channels used for routing the money.
In December, Puri was taken into custody for allegedlyduping about 40 HNIs investors and corporate entities to thetune of Rs 400 crore.