As per sources Rahul Kumar Jain has very fiercely gotten back to the town on 19-10-2018 via Jet Airways flight with the idea to sell out M.R.Roller Flour Mill after being burdened with terms and conditions by the High Court Of Manipur which he has not fulfilled till date.
IT News
Imphal, Oct 21,
Rahul Kumar Jain is finally back in town. After fleeing from the state several times and escaping the police and all legal allegations, he is currently residing in town on anticipatory bail granted by the High Court of Manipur based on the following conditions:
- Mr. Rahul Kumar Jain will have to execute a personal bond in the sum of Rs. 1, 00, 00,000/-(Rupees One Crore Only) to the satisfaction of Jurisdictional Magistrate Court.
- Mr. Rahul Kumar Jain will have to deposit a sum of Rs. 25,00,000/- (Rupees Twenty-Five Lakh Only) in the name of the Registrar (Judicial) of the court of SBI, High court Branch, Manipur to be kept in recurring fixed deposit until further orders of the court.
- Mr. Rahul Kumar Jain will have to furnish two securities for Rs. 50, 00,000/-(Fifty Lakh Only) each before the Judicial Magistrate Court.
- Mr. Rahul Kumar Jain shall have to appear before the Investigating Officer at 10:00am every Monday and Friday until further orders.
- Mr. Rahul Kumar Jain shall have to report before the Bank Manager SBI, M.G. Avenue Branch at 11:00am on every Tuesday and Thursday until further orders.
- Mr. Rahul Kumar Jain will have to bind himself before the Magistrate Court and not leave the state of Manipur without prior permission of the court and will deposit his passport.
As per sources, there have been cash transactions in State Bank of India of over a sum of Rs. 8.40 Crore in Account No. 31781664257 within a span of 28 days. Despite not being in town a sum of more than Rs. 1.50 Crore as on 16-10-2018 and Rs. 1.90 Crore on 19-10-2018 was deposited in Cash anonymously in the State Bank of India, M.G.Avenue Branch, Imphal Account Number 31781664257 in a single day. An integral question rises in the minds of people as how or from where are Mr. Mahendra Kumar Jain and his partners getting the huge amount of money? Or who is the person depositing the cash into the bank on behalf of the proprietors? Is the person depositing the money trying to buy the outright ownership of M.R.Roller Flour Mill? How is it possible to deposit such huge amount of cash in such a short span of time when M.R.Roller Flour Mill has been non-functioning from the past 3 financial years.
M.R.Roller Flour Mill has failed to file income tax return ever since 2016. The directors of M R Roller Flour Mill Pvt Ltd. submitted different sales and purchase figure of the M.R Roller Flour Mill to the Income Tax department of the financial year from 2011-2016. It is found to be a difference of over 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). They also failed to submit the Income Tax Returns after the financial year 2015-2016 and also do not have 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 Rs. 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.
Several reports have been published on the fraud that has been carried out by the Directors of M.R. Roller Flour Mill and no interrogation or investigation has been taken up by any department. Income Tax Department should pay heed to the transaction that has been going on in the bank by the proprietors.
The Directors of M.R. Roller Flour Mill faked the Jamabandi as on 09/02/2004 and took a bank loan from the State Bank of India, M.G Avenue, Manipur of more than the sum of amount of Rs. 8 Cr. (approximately). The original Jamabandi (land patta) of the M.R. Roller Flour Mill as on 15/01/2018 was on an Agriculture Land (Phoural) in the settlement department and Khajana (Land Revenue) of the M.R. Roller Flour Mill. Cash was deposited on 02/03/2011 of the agriculture land (phoural) of sum of amount of Rs.137/-+ Rs. 50/-.
The director of M.R. Roller Flour Mill constructed a fake factory on the agriculture land (Phoural) which is against the law and took wheat quota from the year 2004 to 2016 at a subsidized rate which was made for the Below Poverty Line (BPL) people of Manipur and sold it in an open market for more than 250 Cr. (approximately) and took labour, industry, power subsidies and quota of wheat from the Central and State Government of more than the sum of amount of Rs. 100 Cr. from the year 2004 to 2016.
The directors have been accused of multiple frauds and have the records of getting arrested due to the repayment of loan. It’s high time that the Revenue Department of Manipur, Goods and Services Tax Department of Manipur, Industry Department and Income Tax Department investigate on this matter and take necessary actions before all the three run away from the state with public money.
