ED, I-T Dept likely to join Assam Police probe against Shyamkanu’s fiscal scam

Guwahati, Oct 4: The Enforcement Directorate (ED) and the Income Tax (I-T) Department are expected to join the Assam Police in probing an alleged financial scam and the acquisition of benami properties linked to event manager Shyamkanu Mahanta, who is also an accused in the case related to the death of Zubeen Garg.

The Criminal Investigation Department (CID) of the Assam Police has reportedly uncovered financial irregularities dating back over 20 years, allegedly committed by Mahanta during his tenure at a non-banking financial company (NBFC).

Sources familiar with the matter revealed that officials from both the ED and the I-T Department have already visited the CID headquarters to examine case details. Meanwhile, Assam Police have launched a separate investigation into Mahanta for suspected “organised financial crimes” and for allegedly amassing substantial benami assets through money laundering activities.

“The ED and the I-T Department have visited the CID office and discussed the case with senior officials. They are likely to join the probe with CID, and a formal decision may come very soon,” a source said.

The CID seized bundles of incriminating documents and items from Mahanta’s home during raids on September 25 and 26, such as multiple PAN cards in the name of the same firm, nearly 30 stamp seals of different companies and government officials, and documents related to several benami properties.

The source, however, declined to share further details, saying that more information in the public at this moment may jeopardise the investigation.

To a query whether the ED and the I-T Department will join the probe against Mahanta’s alleged fiscal irregularities, CID Special DGP Munna Prasad Gupta said, “I cannot comment on their behalf. It is up to them to decide.”

Special DGP Gupta is heading a nine-member Special Investigation Team (SIT) probing the untimely death of Garg in Singapore.

Another source, on condition of anonymity, said that CID has unearthed more than 20-year-old financial irregularities allegedly committed by Shyamkanu Mahanta when he was working as the Assistant General Manager with the North Eastern Development Finance Corporation Ltd (NEDFi).

“During the course of the investigation, it was found that he, along with two GMs, had given over Rs 14-crore loan to a company named DSS E-Connect Ltd for opening call centres in Assam. Out of the total amount, Rs 8.42 crore was disbursed in 2001 and Rs 6 crore in 2003,” he added.

When no EMI was paid to repay the loan till 2003, an internal probe was initiated by NEDFi, but it was never completed, the source said.

“Mahanta was the project manager of the entire work. In 2004, he resigned from NEDFi and joined the Infrastructure Leasing & Financial Services (IL&FS) as its Vice President. Later, he left that job too and started his own event management firm, Trend MMS,” he added.

Garg died in Singapore on September 19 while swimming in the sea. He had gone to the Southeast Asian nation to attend the 4th edition of the North East India Festival, organised by Shyamkanu Mahanta and his company.

From the search operation at Mahanta’s home last week, the sleuths of the CID seized two PAN cards in the name of his event organising company, ‘Trend MMS’.

Further, 28 stamp seals were recovered from his office premises. These included seals in the name of various companies and many government officials.

Several documents were also recovered inside the residence and the office premises of Mahanta, pertaining to the construction of roads under the PMGSY scheme in various districts of Assam as well as in Arunachal Pradesh.

PTI