Overview

• Searches were conducted under PMLA after inputs from GST authorities, with ED’s Guwahati unit coordinating operations alongside state police.
• Officials froze bank balances, seized documents for immovable properties, and recovered records that detail bogus invoicing, fake e-way bills and layered fund transfers.
• The investigation began with Guwahati-based M/s Amit Traders, found non-existent, and linked to M/s Shree Ram Enterprises, which allegedly availed Rs 116 crore in fake credit on Rs 700 crore of bogus invoices.
• ED cited admissions or findings against multiple entities, including Rainbow Enterprises and A K Enterprises (over Rs 2 crore each), Tanor Engineering (Rs 4 crore, with assets and bank balances frozen), and Hyderabad’s Vinardh Automobiles (a projected Rs 110 crore fake turnover and fraudulent GST refund claims).
• Preliminary findings indicate fraudulent credits were passed to leading MNCs, with Haryana’s Jai Shree Balaji entities declaring fictitious turnovers and Delhi’s Prisha Exim pointing to dummy use, while possible kickbacks to officials are under examination.