Mumbai: 4 Chartered Accountants Booked Over Alleged Fake Form 15CB Certificates Linked To ₹2,575 Crore Overseas Remittances
Mumbai: The MRA Marg police have registered a case against four Chartered Accountants and directors and associates of several companies for allegedly issuing fake Form 15CB certificates without verifying the required financial and transaction-related documents, facilitating overseas remittances totalling ₹2,575.83 crore between the financial years 2021-22 and 2024-25. The complaint was filed by…
Mumbai police have registered a case against four Chartered Accountants and related entities for allegedly issuing fake Form 15CB certificates, facilitating overseas remittances totaling ₹2,575.83 crore between 2021-22 and 2024-25. Assistant Director of Income Tax Pratik Nandkishore Mantri filed the complaint, stating that Chartered Accountants Ravi Dhanpat Singh Chaudhary, Abhishek Arvind Kulkarni, Sitaram Mahabaleshwar Bhat, and Nalin Ratilal Panchal allegedly prepared and issued the certificates without verifying required documents.
The Income Tax Department questioned the four CAs on August 18, 2026, and the investigation revealed that Chaudhary issued 618 certificates worth ₹821 crore for nine entities, Kulkarni issued 408 certificates for ₹431.37 crore for 18 entities, Bhat issued 163 certificates for ₹200.58 crore for eight entities, and Panchal issued 791 certificates worth ₹1,122.53 crore for nine entities.
The complaint alleges that the CAs conspired to create shell companies and used false Form 15CB certificates to facilitate tax evasion and adversely impact India's foreign-exchange reserves and economic integrity.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
