IT Desk
Imphal, Oct 6,
Mahendra Kumar Jain, the proprietor of M.R. Roller Flour Mill – established at Agricultural Land at Mantripukhri area was arrested along with his wife Mrs. Shobha Devi Jain, co-partner of the firm, by City Police in connection with a complaint lodged by SBI Head Office Manager over failure to clear loan debt of the bank on September 7.
Earlier, Imphal Times had reported that the proprietor of M.R. Roller Flour Mill, Mahendra Kumar Jain had taken loan amount of Rs. 8 core from State Bank of India using fake documents. Vigilance department of State Bank of India (regional Branch) had conducted enquiry regarding the report. But the bank authority instead of taking action had carpeted the issue and pressure the SBI Head Office Imphal to recover the loan. As per the complaints Mahendra Kumar Jain had not been paying the loan debt since May 17, 2017.
After producing at the court both were released on bail on the following day. As per report both Mahendra Kumar Jain and his wife went outside the state for medical treatment and returned on September 26.
Source said that M.R. Roller Flour Mill has not been functional for years with no appropriate machineries in the mill and also added that flour mill remain closed after this news paper exposed some part of financial irregularities committed by the proprietor. The source further added that Mahendra Kumar Jain was bankrupt. But to the surprise some unseen force seem to be making escape route for Mahendra Kumar Jain and his family without getting opportunity to the state vigilance department to investigate on how he cheated statement of account to relax taxes.
The proprietor of M.R. Roller Flour Mill, Mahendra Kumar Jain besides failing to pay the debt had not filed any Income Tax returns since the financial year 2015-2016.
Source said that the Director of M R Roller Flour Mill Pvt Ltd, Mahendra Kumar Jain had submitted two different sales and purchase figure of the M.R Roller Flour Mill in Income tax return and sales and VAT tax return from the financial year of 2011-2016. It is found to be a difference of sales figure more than ‘170,00,00,000(one hundred and seventy crore) and purchase figure of Rs. 1,53,07,64,194.24/- (Rupees one hundred fifty three crores seven lakhs sixty-four thousand one hundred ninety four and twenty- four paisa only)documents attached below, and never submitted the Income Tax Returns after the financial year 2015-2016 and has no records of the stock in hand of than Rs. 14 Cr. The sales tax returns was recorded to be of Rs1 lakh of sales in one month and the directors paid 10 to 11 lakhs of interest to the bank .It clearly shows that this is a case of money laundering by the directors of M .R. Roller Flour Mill Pvt Ltd.
Imphal Times also found that Proprietor of the MR Roller Flour Mill have over Rs. 200 crore worth property across the country.
One is at Jaipur where his son Rahul Jain is presently staying. Police said that they are in the process to arrest Rahul Jain too.
