₹804 Crore Overseas Transactions: Four Gandhidham CAs, Five Associates Booked
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Summarized by AI; it may make mistakes. Check important info
The Income Tax Department has uncovered an alleged financial irregularity involving ₹804.30 crore in overseas transactions, leading to an FIR against four chartered accountants and five alleged associates in Gandhidham.
The case was registered at the Gandhidham A Division Police Station following an investigation by the Income Tax Department into the alleged misuse of Form 15CB certificates for transferring money outside India.
Over 500 Form 15CB Certificates Issued
According to the complaint filed by Nikhil Shantilal Patidar, an inspector with the Gandhidham Income Tax Office, the department's investigation branch conducted search and survey operations involving chartered accountants in Gandhidham in August 2026.
During the investigation of transactions involving money sent abroad by companies, officials allegedly found irregularities in Form 15CB certificates.
The investigation reportedly found that more than 500 certificates had been issued without adequately verifying the companies' accounting records, documents or the identities of their actual directors.
₹804.30 Crore In Transactions Under Scanner
The investigation reportedly identified transactions involving seven private companies, collectively amounting to ₹804.30 crore.
Among the transactions examined was ₹295.99 crore transferred by Meco Marine and Container Leasing Services Pvt Ltd, Mumbai, during financial years 2023-24 and 2024-25. As many as 305 Form 15CB certificates relating to these transactions were reportedly certified by CA Punikumar Atulkumar Dand of Gandhidham.
Similarly, 18 certificates covering ₹6.53 crore in transactions of Quseven Marine and Container Leasing Services Pvt Ltd, Mumbai, were reportedly certified by CA Nikhil Avadhesh Mishra.
Certificates relating to approximately ₹75 lakh in transactions of Nageshwar Shipping Pvt Ltd, Gandhidham, were also allegedly certified by Mishra.
Other Companies Also Under Investigation
The investigation further found that 197 Form 15CB certificates covering ₹178.16 crore in transactions of Easychain Logistics Solutions Pvt Ltd and Oms Logistics Pvt Ltd between FY 2022-23 and FY 2024-25 were reportedly certified by CA Rahul Sadhu.
Additionally, Form 15CB certificates were allegedly prepared and submitted by CA Karan Agrawal for transactions involving:
- ISC Logistics Pvt Ltd, Bengaluru — ₹208.14 crore
- Green Ocean Associates, Delhi — ₹112.74 crore
- Solvek Innovations Pvt Ltd, Mumbai — ₹1.99 crore
Together, the transactions under investigation amounted to ₹804.30 crore.
FIR Registered Against Nine Persons
Based on the findings, the Income Tax Department has approached the police, resulting in an FIR against four chartered accountants and five alleged associates.
The investigation will now focus on the alleged role of the accused in preparing and certifying the Form 15CB certificates, the overseas transactions carried out through them and whether the required verification procedures were followed.
Further investigation is underway.
