Did the ED Attach Properties Worth Rs 17.16 Crore in Haryana VAT Scam?
Synopsis
The Enforcement Directorate has attached 37 properties in Haryana, linked to a VAT scam. This significant action is a result of a detailed investigation that uncovered fraudulent tax refund claims, estimated to have cost the government Rs 43.65 crore. Read more to discover the extent of this operation and its implications.
Key Takeaways
ED attaches 37 properties in Haryana VAT scam.
Properties valued at Rs 17.16 crore .
Investigation reveals fraudulent VAT refund claims.
Estimated loss to government exchequer: Rs 43.65 crore .
Ongoing investigations seek to identify all beneficiaries.
New Delhi, Dec 24 (NationPress) The Enforcement Directorate (ED), operating from its Chandigarh Zonal Office, has provisionally attached 37 immovable properties valued at around Rs 17.16 crore in relation to a significant Value Added Tax (VAT) fraud case in Sirsa district of Haryana, as reported by officials on Tuesday.
This attachment is carried out under the Prevention of Money Laundering Act (PMLA), 2002.
As per an official press release dated December 24, the provisional attachment affects properties owned by Padam Bansal, Mahesh Bansal, and their family members.
The ED's action is a continuation of its investigation, which is based on several FIRs lodged by the Haryana Police under various sections of the Indian Penal Code (IPC), 1860, concerning purported fraudulent VAT refunds.
The ED's inquiry has uncovered that numerous companies falsely claimed VAT refunds from the Excise and Taxation Department in Sirsa using fraudulent C-Forms.
It was further revealed that a syndicate allegedly spearheaded by Padam Bansal and Mahesh Bansal, along with their associates, formed multiple companies under the names of impoverished and unsuspecting individuals. These entities were purportedly utilized for executing fraudulent transactions through their bank accounts.
The investigation indicates that these firms claimed fictitious interstate sales via forged C-Forms and, in apparent collusion with officials from the Excise and Taxation Department in Sirsa, secured fraudulent tax refunds totaling approximately Rs 4.41 crore. This scam is estimated to have resulted in an overall loss to the government exchequer of around Rs 43.65 crore.
This sum comprises tax dues of approximately Rs 20.01 crore, interest amounting to Rs 8.91 crore, penalties totaling Rs 17.34 crore, and input tax credit of Rs 7.02 crore.
The ED also asserted that the fraudulently acquired refunds were funneled into private firm accounts managed by the accused, which were then utilized to purchase immovable assets both in their names and those of their family members.
These assets are now classified as proceeds of crime and have been attached accordingly.
Officials mentioned that further investigations are ongoing regarding the FIRs filed in Sirsa and other districts of Haryana to uncover additional proceeds of crime and to identify the full network of beneficiaries involved in this VAT scam.
Point of View
We stand firmly committed to reporting on issues that directly impact the integrity of our financial systems. The recent actions by the ED highlight the importance of vigilance against fraudulent practices and the necessity of accountability in governance.
NationPress
9 May 2026
Frequently Asked Questions
What triggered the ED's investigation into the VAT scam?
The investigation was initiated based on multiple FIRs filed by the Haryana Police concerning alleged fraudulent VAT refunds.
How much has the VAT scam cost the government?
The scam is estimated to have resulted in a total loss of approximately Rs 43.65 crore to the government exchequer.
What actions have been taken against the accused?
The ED has provisionally attached 37 properties belonging to the accused individuals and their family members as proceeds of crime.
What laws are involved in this case?
This case is being investigated under the Prevention of Money Laundering Act (PMLA), 2002, and various sections of the Indian Penal Code.
Is the investigation ongoing?
Yes, further investigations are being conducted to trace additional proceeds of crime and identify all beneficiaries involved in the scam.
