Glare on pvt firms that helped ‘siphon’ funds
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Laccfed scam I-T dept probing companies to which officials 'advanced' money.
The investigation branch of Income Tax Department is probing 10-odd private firms which were allegedly used by officials of the Labour and Construction Co-operative Federation for siphoning money, it is learnt.
Sources said LACCFED officials advanced money by cheque to these firms purportedly for executing some work. But no work was actually done; the money was withdrawn in cash and paid back to LACCFED officials after deducting a commission. Withdrawal of over Rs 45 crore in cash from the bank accounts of the firms is being investigated, sources said.
The investigation is being conducted on the directive of the financial intelligence unit (FIU) at the income tax headquarters.
This is in addition to the investigation which the special investigation bureau of the cooperative cell of the UP Police is conducting into the role of nine former ministers of the BSP government and LACCFED officials in embezzlement of government funds, Ashok Tripathi, Director of Income Tax (Investigation) at Kanpur said they had got a complaint regarding tax evasion by a private firm Shiv Bala Trading Agency which had received money from LACCFED.
It started after the FIU found that Rs 2 crore cash had been withdrawn from the bank account of the firm in 2011. The money had been deposited in the agency's account by a cheque issued by then LACCFED general manager (finance and administration) Pankaj Tripathi and then chief engineer Govind Sharan Srivastava.
On questioning, the firm's proprietor reportedly told IT officials that then LACCFED chairman Sushil Katiyar and pubilc relations officer Praveen Singh Rathore had got the cheque issued to his firm, telling him that a contract for construction of school buildings under the Department of Secondary Education would be given to him.
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