Pune Police’s Economic Offences Wing (EOW) has registered an FIR against two chartered accountants operating from Katraj-Kondhwa Road over allegations of issuing fraudulent Form 15CB certificates linked to overseas remittances amounting to ₹4,427.92 crore.
According to the FIR, the alleged transactions were carried out through three suspected shell entities during financial years 2022-23 to 2025-26. The Income Tax Department initiated the complaint, which was first registered at Yevalewadi police station before being transferred to the EOW for investigation.
Investigators have alleged that the two CAs prepared and certified documents relating to foreign remittances without carrying out the required verification of supporting records. The certificates were allegedly used to support remittances by entities suspected of being shell or bogus firms. The investigation is examining whether the documentation was used to facilitate overseas transfers while avoiding applicable tax liabilities.
Form 15CB is a chartered accountant’s certificate applicable to specified payments or remittances made to non-residents, where examination of the transaction and applicable tax implications is required. The related remittance reporting process also involves tax declarations filed with the Income Tax Department.
The case follows the arrest of another chartered accountant from Udgir, Latur district, on August 23, who was accused of issuing 1,810 Form 15CB certificates without completing the prescribed verification. Those certificates were allegedly connected with outward remittances exceeding ₹2,143 crore through suspected shell entities.
The Pune EOW is currently examining the movement of funds, the involvement of intermediary entities and the alleged links between the accused CAs and the three entities named in the complaint. Investigators have also stated that the suspected shell firms have not yet been traced. The Income Tax Department is continuing its investigation into the CA firms concerned. CASansaar