Indore: State Cyber Cell arrested six people for allegedly selling the Duty Credit Scrip of two exporting companies in Pithampur on Saturday. Three defendants are from Pune and sold the script for more than Rs 2 crores using the company’s digital signatures. Officials claimed that several others may also be involved and further investigations are ongoing.
Jitendra Singh, SP (cybernetic cell), said that tax credit revenue is the most popular export promotion incentive provided by the government to exporters. A complaint was received from two Pithampur companies (one company that exports capsule covers and another company that exports vehicles) that its tax credit revenue was sold by an unidentified person in the market using their digital signatures. The duty credit script is transferable and can be sold by anyone in the market. The script was sold by the accused for Rs 80 lakhs and Rs 83 lakhs on the market.
During the investigation, it was discovered that the tax credit revenue was sold to Sun Export in Mumbai. The cyber cell employees contacted Sun Export and were told that an agent from Pune sold the recipe to them. Bank accounts were verified when cyber officers learned that Rs 80 lakh was credited to an Indore company’s account and Rs 83 lakh was credited to another account in Pune. Three people named Ashutosh Shrivastav of Mangliya, Himanshu Jain of the Basant Vihar Colony and Abhishek Thakur of the city’s Nipania area were detained by the officers in the cell. They told employees that they had established a company to attract investors. They also inform that they were contacted by a person who told them to receive money in the account to obtain an attractive commission.
SP Singh said that three other people named Rajesh Jagtap, Harshal Ghodke and Manoj Lunkad from Pune were also arrested for their involvement in the crime. They are associated with a gang that is dedicated to stealing rights credits from companies.
The accused Rajesh and Harshal together with two other people are said to have allegedly sold the recipe on the market. They had received money through two bank accounts in Indore and Pune.
Duty Credit Scrips (DCS) is an export promotion benefit offered by the Government of India under the Foreign Trade Policy (FTP). A DCS offers export tax incentives, which can be used by exporters to offset their import duties.