CBI busts foreign remittance scam of over Rs. 2,200 crore
The CBI has claimed to have busted a major scam of over Rs 2,200 crore where 13 companies allegedly remitted the amount to foreign entities against bill payments of imports of only Rs 24.64 crore.
The CBI has registered a case against Stelkon Infratel Limited (SIPL) and 12 other companies for allegedly making these remittances.
SIPL allegedly indulged in large-scale illegal foreign remittances under fraudulent imports of the goods during 2015 -16.
Many of these transactions were effected through the company's account at Punjab National Bank, the CBI alleged.
The agency alleged that in total Rs 680.12 crore was remitted by the company using six accounts for imports but actually they filed only 25 bills of entry during this period with a declared value of Rs 3.14 crore with the customs.
Thus, an excess of Rs 676.98 crore was "illegitimately" remitted abroad by SIPL, the CBI alleged in the FIR.