The Modi Government is quite serious about their work and that’s why they are leaving no stone in fighting against the Black Money. The Indian Government is making all efforts to end the black money from its roots. Demonetization is one of the perfect examples of it. Now, the Modi government is planning to take some stern actions against Chartered Accountants and Company Secretaries to curb the black money. The government is going to take action against those who make their black money into white money through Shell companies.
According to the Government, the Chartered Accountants play a very important role in most of the black money related cases. Two days ago, the Enforcement Directorate (ED) had arrested Surendra Jain and Virendra Jain on the charges of the scandal in the same case. It is expected that the scandal was more than 11 thousand crores and 54 officials were also the part of this big crime. The Enforcement Directorate will send the notice to all the professionals whose names were on the list for the inquiry and if they found guilty, then the proper action under the Money Laundering Act will be taken against them. In such cases, there wasn’t any action taken against the professionals before, but the Modi government is in no mood in leaving the anyone whose connection with the Black Money holders. The Government is making preparations to take action against all those professionals in all such cases. It seems like that Modi Government is very serious about concluding the Black Money from its roots.
Who is Virendra Jain and Surendra Jain?
The Enforcement Directorate had arrested two people named as Virendra Jain and Surendra Jain in the case of making a shell company. They have been accused of making 90 fake companies and also allegedly whitened the black money of about Rs.4,000 crore. A large racket has been busted after their arrest. The duo of Virendra Jain and Surendra Jain had benefited about 559 people through generating 90 fake companies. It is assumed that many of the names of big people might come out soon whom they helped in whitening the black money. The partner of Radisson Hotel had also whitened his black money from Virendra and Surendra Jain. In the same way, Virendra and Surendra Jain had opened their eight different accounts in Dhanalakshmi Bank and transformed the meager amount of Rs 3 lakh to 8 crores.
It seems like that the Modi Government has given the final indication to all the Chartered Accountants and Company Secretaries to not support or help anyone in hiding the black money. Otherwise, the Enforcement Directorate will take stern actions on them like Money laundering act and much more. The Modi Government is very serious on the issue of black money, so it’s an advice to all the Chartered Accountants and Company Secretaries to not follow anything that can put them behind the bars or motivates the government to take action against them.