Bhayander Police have registered a First Information Report (FIR) against a chartered accountant and two alleged intermediaries over the suspected illegal transfer of approximately ₹495.30 crore from India to foreign countries.
The case was registered following a complaint lodged by the Income Tax Department after scrutiny of financial transactions involving funds remitted overseas and money received from abroad. Considering the scale and financial implications of the transactions, the investigation has been transferred to the Economic Offences Wing (EOW).
According to the complaint, the alleged remittances were carried out over a period of four years through several private companies registered under different names. The transactions under scrutiny reportedly took place during 2022-23 and 2025-26.
CA Certificates Allegedly Based on Incorrect Information
The Income Tax Department’s examination reportedly revealed that chartered accountant Mahendra Purohit, aged 37, had allegedly issued certificates required for sending money abroad on the basis of inaccurate information.
Such professional certification is required for specified foreign remittances exceeding ₹5 lakh. The certificate ordinarily records relevant tax and transaction particulars and enables banks and authorised dealers to assess the remittance’s compliance with applicable tax requirements.
Investigators suspect that the certificates in question facilitated the transfer of funds belonging to different companies from India to overseas destinations. The precise nature of the underlying transactions and the countries to which the money was allegedly transferred are expected to form part of the detailed investigation.
Companies Registered Under Different Names Used
Police alleged that the transactions were routed through private companies incorporated under different names. The authorities are likely to examine the ownership, management and financial records of these entities to determine whether they were carrying on genuine business activities or were allegedly used as vehicles for moving funds abroad.
The investigation may also examine bank accounts, foreign-remittance documents, tax filings, company incorporation records and the supporting information furnished for obtaining the certificates.
Officials have described the alleged transactions as having serious implications for the country’s economic stability and financial integrity.
Income Tax Official Lodges Complaint
The FIR was registered on the basis of a complaint filed by Assistant Tax Inspector Sachchidanand Chaurasia, aged 57. The case names the chartered accountant and two persons alleged to have acted as intermediaries in the transactions.
The identities and specific roles of the two intermediaries were not detailed in the available report. Investigators are expected to determine who supplied the transaction information, who controlled the companies concerned and who ultimately benefited from the overseas remittances.
Investigation Transferred to EOW
Bhayander Police initially registered the case but subsequently transferred it to the EOW in view of the high value of the alleged transactions and the complexity of the financial trail.
The EOW is expected to scrutinise documentary and digital evidence, trace the flow of funds and verify whether statutory requirements governing foreign remittances were complied with. It may also coordinate with tax authorities, banks and other regulatory or investigating agencies during the probe.
The allegations remain under investigation. The registration of an FIR does not by itself establish guilt, and the liability of the accused will be determined through the investigation and subsequent legal proceedings.
