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Nagpur City

HC issues contempt notice to Maple Jewellers

by TLN Team July 7, 2019July 11, 2019
written by TLN Team July 7, 2019July 11, 2019
HC issues contempt notice to Maple Jewellers

The Nagpur Bench of Bombay High Court has issued contempt notice to Maple Jewellers Private Ltd, one of the leading jewellery houses of Mumbai, for failing to provide a corporate bank guarantee of rs 5.73 crore to the Income Tax department to get custody of the unaccounted cash of same amount seized on April 29 last year. The court has also asked the jewellery house to clarify in two weeks why the bank guarantee was not provided despite the HC ruling on March 25 this year.

The jewellery house had in March showed interest in providing a corporate bank guarantee to get the unaccounted cash back. A single judge bench of Justice Murlidhar Giratkar had asked the firm to provide bank guarantee of a nationalised bank. However, the firm did not comply with the order. After which the I-T department informed the high court that no bank guarantee has been provided till date.

Court rapped the jewellery firm and issued a contempt notice. Income tax department has filed an application in this court for this unaccounted amount. The department says that according to the law, this amount is required to be deposited in the treasury of income tax department. Nandanwan police had captured a car at Prajapati Chowk on the Pardi route at 2.30 am on April 29 2018.

After coming to the Nandanawan police station, Manish Khandelwal informed about the car carrying an amount of Rs 5.77 crore. After calculating the amount, the money came to Rs 3 crore 18 lakhs. So Manish alleged that the amount of two crore 55 lakh rupees was missing from the car. After that, the missing amount was returned after taking necessary action. Maple Jewellers claimed that this amount was theirs.

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