Document Fragment View

Matching Fragments

Investigation further revealed that Sri Deepak Gupta has dishonestly and fraudulently sold the illegally extracted iron ore at a very low price to his group of company M/s. Deepak Steel & Power Ltd. where he is also a Director along with Sri Haricharan Gupta which clearly indicates that M/s. Deepak Steel & Power is the illegal beneficiary of the stolen iron ore. In this process Sri Deepak Gupta, Sri Haricharan Gupta and other co-accused have suppressed a turnover of Rs.270,12,71,492.00 on account of undervaluation........
x x x x x x x Sri Deepak Gupta has dishonestly and fraudulently sold the illegally extracted iron ore at a very low price to his group company M/s. Deepak Steel and Power Ltd. (where he is also a Director along with Sri Hari Charan Gupta). Thereby, M/s Deepak Steel and Power Ltd. became the illegal beneficiary of the stolen iron ore. In the process, Sri Deepak Gupta, Sri Hari Charan Gupta and other co-accused also evaded a huge amount of Commercial Taxes to the tune of Rs.44,86,21,101.14.