GST Settlement Allegation Costs Mumbai Officer ₹7.99 Crore

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A Mumbai official reportedly lost ₹7.99 crore after being misled by individuals claiming to resolve a company’s unpaid GST obligations.

How did the ₹11 crore GST liability originate?

A 50-year-old resident of Dadar, Amit Tipnis, had previously served as a manager for a company that ceased operations during the COVID-19 pandemic in 2020. Following the shutdown, liabilities totaling around ₹11 crore linked to the business reportedly fell to Tipnis.

What did the accused allegedly promise?

Bhagat and Gupta purportedly claimed to have the capability to resolve the GST dispute and mitigate the outstanding liability. According to the complaint, they presented themselves as individuals with the means to assist Tipnis with the matter. Their assurances allegedly led Tipnis to follow their instructions and make payments.

What occurred after Hiren Bhagat’s arrest?

Bhagat was reportedly detained in a separate case in January 2024. After his arrest, Gupta allegedly continued contacting Tipnis and directed him to transfer funds into multiple bank accounts. Gupta allegedly claimed to have connections within the GST department and warned Tipnis that his bank accounts could be frozen if payments were not made.

How was ₹7.99 crore allegedly transferred?

Following the accused’s assurances and warnings, Tipnis allegedly deposited significant sums into bank accounts provided by the perpetrators. The accused allegedly maintained that the GST dispute would be resolved and that financial restrictions would be lifted. According to the complaint, Tipnis transferred a total of ₹7.99 crore into accounts specified by the accused, along with a ₹5 lakh fee to chartered accountant Poojan Parmar.

When did Tipnis begin questioning the accused?

From August 2024, Tipnis allegedly remained in contact with the accused and repeatedly sought updates on the promised resolution. Despite ongoing assurances, no tangible progress was made. As the matter persisted without resolution, Tipnis began questioning the accused about the funds transferred and the status of the GST case.

What allegedly transpired during the Worli meeting?

In March, Tipnis reportedly met the accused in Worli to address the unresolved issues. According to the complaint, Bhagat allegedly threatened him during the meeting. Following the alleged threat and the lack of resolution, Tipnis approached the Bandra-Kurla Complex police to file a complaint.

What is the Mumbai Police investigating?

The Bandra-Kurla Complex police are examining the bank accounts where the funds were transferred, financial transactions, communications between the accused and Tipnis, and the alleged claims of internal GST department connections. Authorities are also seeking to determine the destination of the ₹7.99 crore and how the funds were subsequently utilized. No arrests have been made to date.

According to the complaint, they presented themselves as individuals with the means to assist Tipnis with the matter.

According to the complaint, Tipnis transferred a total of ₹7.99 crore into accounts specified by the accused, along with a ₹5 lakh fee to chartered accountant Poojan Parmar.