Chandigarh: Notice to Ind-Swift pharma company, petrol pump owner for evading tax worth croreshttps://indianexpress.com/article/cities/chandigarh/tax-evasion-ind-swift-pharma-company-nr-munjal-excise-taxation-department-notice-issued-5482462/

Chandigarh: Notice to Ind-Swift pharma company, petrol pump owner for evading tax worth crores

The firms have been told that their property will be attached under the Punjab Land Revenue Act if dues are not paid.

Chandigarh: Notice to Ind-Swift pharma company, petrol pump owner for evading tax worth crores
The court of Chief Judicial Magistrate Abhishek Phutela on Thursday sent Ind-Swift Laboratories CMD N R Munjal to judicial custody in an alleged tax evasion case tuning to Rs 5.09 crore. (Source: File)

The UT excise and taxation department has served notices to pharmaceutical company Ind-Swift Laboratories and a firm, which ran a petrol pump in Sector 28 here, to deposit Rs 67 crore and Rs 1.85 crore respectively as tax dues.

While Ind-Swift has been given time till December 7, the company that ran the Sector 28-based petrol pump, Brahm Swaroop and Sons, has been asked to deposit the said amount by December 10. The firms have been told that their property will be attached under the Punjab Land Revenue Act if dues are not paid.

A senior official of the department said in 2010-11, they raised the sales tax demand and Brahm Swaroop and Sons had filed an appeal in Appellate Tribunal against it. “However, the case has been decided against them and thus we have served the notice,” said the official.

The petrol pump in Sector 28, however, has been sold off by the erring company to another entity.

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“The Ind-Swift Laboratories, on the other hand, had to pay initially an amount of Rs 5.09 crore as VAT and Central Sales Tax in the first quarter from April 1, 2011, to June 30, 2011. However, due to non-payment, along with penalty and tax of all other quarters till 2014-15, the amount accumulated till Rs 67 crore,” the official added.

“If they fail to make payments till the said date, we will attach their properties to make recovery,” the official further said.

The director of Ind-Swift Laboratories Ltd, N R Munjal, was arrested by Chandigarh Police on December 3 in connection with a forgery and cheating case, along with the non payment of tax dues. Munjal is a resident of Sector 6 in Panchkula.

Ind-Swift CMD Munjal gets judicial remand

The court of Chief Judicial Magistrate Abhishek Phutela on Thursday sent Ind-Swift Laboratories CMD N R Munjal to judicial custody in an alleged tax evasion case tuning to Rs 5.09 crore.

The accused was produced in the court after his two-day police remand got over on Thursday. The prosecution did not seek any further remand of the accused and thus Munjal was sent to the judicial custody.

Advocate Terminder Singh, counsel for Munjal, moved an application for his medical treatment at jail as he is suffering from hernia and diabetes. Acting on the application, the Court thus issued directions to police.