CBI today filed a mammoth 45,000-page charge sheet against Hiranandani Group Directors, Niranjan and Surendra Hiranandani, in connection with an alleged Rs 9 crore provident fund scam.
Charge sheet has also been filed against 24 others including two former Commissioners and Assistant Commissioners of Employee Provident Fund Organisation (EPFO) and other officials from group.
According to the Anti Corruption Bureau of CBI, which had lodged an FIR on March 29, 2008, Hiranandani Group had not deposited the provident fund of their employees between the year 2003 and 2006.
The alleged non-payment, as per a report filed by the EPFO in its departmental enquiry, was to the tune of Rs 9.39 crore.
"Niranjan and Surendra had conspired with officials from EPFO and prepared bogus details of PF contributions of five companies. Such contributions were never paid and the Hiranandani Group was allowed to get undue benefit," CBI DIG Praveen Salunkhe said.
The Hiranandani Group was required to deposit Rs 9.39 crore to the EPFO, but it deposited only Rs 2 lakh, Salunkhe said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app