Lagatar24 Desk
Ranchi: A special PMLA court in Ranchi has rejected the bail plea of Jamshedpur-based businessman Vicky Bhalotia, who is accused in an ₹800 crore GST scam involving large-scale money laundering. The court’s decision delivers a significant blow to Bhalotia, who is alleged to have orchestrated the scam using shell companies.
Fake GST entries worth ₹800 crore under scrutiny
According to the Enforcement Directorate (ED), Bhalotia created bogus GST entries in the names of multiple shell companies to facilitate fraudulent transactions exceeding ₹800 crore. The ED is actively probing the case under provisions of the Prevention of Money Laundering Act.
Multiple arrests made in the case
So far, four individuals have been arrested in connection with the scam. These include Shivkumar Devda, Vicky Bhalotia from Jugsalai in Jamshedpur, and Kolkata-based businessmen Amit Gupta and Mohit Devda. All accused are currently in judicial custody at the Birsa Munda Central Jail in Hotwar, Ranchi.
