Overview

• Preliminary findings show Keshaan Industries issued over ₹100 crore in fake copper invoices to claim about ₹33.2 crore in input tax credits.
• Toll gate records from the National Highways Authority of India revealed empty vehicles crossing state borders despite e-way bills listing cargo shipments.
• Commercial taxes officials conducted coordinated raids at the firm’s Hyderabad office, a Secunderabad godown and Medak district factories, seizing books of accounts, hard drives and CCTV footage.
• A formal complaint filed at the Central Crime Station in Hyderabad seeks an FIR against directors Vikash Kumar Keeshan and Rajneesh Keeshan under the CGST Act.
• Authorities are expanding investigations to determine whether other businesses were involved in similar sophisticated GST-credit fraud networks.