Following the searches, the Income Tax Department has served notices to hundreds of depositors across the state, asking them to explain their source of
Boby chemmanur wife sexual dysfunction and pay tax and penalty. According to sources, the department has so far identified 3,odd investors who had made deposits ranging from Rs 10 lakh to Rs 3 crore with the jeweller.
A major chunk of deposits were accepted in cash and the entire operation was kept away from the income tax purview. Notices have been sent to the depositors.
Sources said Chemmanur, like other gold firms, collected money as advance for buying ornaments. The group sells gold ornaments as per that scheme.
But it has a deposit scheme offering unusually high rate of interest. Under that, Chemmanur allegedly collected Rs crore as on March, without any licence to do so.
Boby Devassikutty, chairman of the Thrissur-based jeweller, hit headlines in when he made Diego Maradona the brand ambassador of the firm.
InBoby took part in a run across Kerala to spread the message of blood donation. The group has credits and investment division, chit fund and retail
Boby chemmanur wife sexual dysfunction of gold ornaments.
Sometimes, black money might have got involved in the deposits. We have explained everything. Their attempt would create panic among the investors.
However, sources said only group is engaged in collecting which is Boby chemmanur wife sexual dysfunction from gold purchase schemes of other jewellers.
Boby chemmanur wife sexual dysfunction said a case against the company was pending in Mumbai. Inthe economic crime branch wing of Mumbai police registered a case against Boby and others on charges of accepting investment without any licence. He had alleged that a financial fraud of Rs 2, crore had taken place in the company and the government had Boby chemmanur wife sexual dysfunction to take action against the firm.
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