Arindam Chaudhuri, Director of Indian Institute of Planning and Management (IIPM) was arrested by the Central Goods & Services Tax (CGST) South Delhi Commissionerate on Friday under Section 89 of the Finance Act which enlists penalties for evading payment of service tax.
He was apprehended for wrongfully claiming Central Value Added Tax (CENVAT) of service tax credit (in the pre-GST regime) amounting to around Rs 23 crore.
The once high-flying management guru’s books like, “Don’t count your chickens till they are hatched” were a big hit amongst students.
Gurudas Malik Thakur, who is the Director of the company, has also been arrested under the same offences and sent to 14 days judicial custody.
Both were produced before duty magistrate Jyoti Maheshwari in the Patiala House Court.
Investigation is under process, and is likely to cover other properties held by Chaudhuri and his company in Delhi, other cities, and overseas, the sources added.
Chaudhuri and Thakur will next be produced before the court on September 3, 2020.
This is not the first time Chaudhuri has been caught on the wrong side of the law; his famed institute, IIPM, had been in the news earlier as well for similar cases of financial bungling.
Chaudhuri was apprehended on March 14 (2020) for allegedly submitting a forged medical certificate after police asked him to join the probe with respect to a 2016 case. He was subsequently released on bail.
Delhi Police had in 2015 registered an FIR against IIPM following the complaint of UGC that the institute was ‘misleading, cheating, and fooling’ students as it was not recognized by any regulatory body. Subscribe Taxscan AdFree to view the Judgment