Kolkata Brothers Arrested in Rs 5000 Crore Fraud
Two Kolkata industrialists are jailed over accusations of a massive GST evasion scheme.
JAMSHEDPUR – Amit Gupta and Sumit Gupta, industrialists from Kolkata’s Salt Lake Sector 5, have been incarcerated following allegations of their involvement in a Rs 5000 crore GST scam.
The Special Judge of Economic Offenses, Saudamani Singh, ordered the arrest of the Gupta brothers late Tuesday evening, following their court appearance under a 48-hour transit remand.
During the court proceedings, a legal battle unfolded between advocate Prakash Jha, defending the accused, and advocate Sanjeev Ranjan Baniyar, representing the Union of India, over the remand request.
The court’s decision to jail Amit and Sumit Gupta was finalized after an evening hearing, reflecting the seriousness of the charges against them.
Initially detained and presented in Alipore, the Gupta brothers were transferred to the city under transit remand, which was set to expire on the 10th of April.
The case against the brothers was initiated by a complaint from GST Intelligence Officer Dinesh Kumar, accusing them of engineering a large-scale GST fraud through approximately 90 fictitious companies.
Investigations uncovered that the operation issued fake bills totaling Rs 3,000 crore, leading to a significant loss of GST revenue for the government, estimated at Rs 5000 crore.
The situation is further complicated by the Gupta brothers’ alleged connections with Shiva Debra, an industrialist with a prior incarceration history, hinting at a broader network of economic offenses.
