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Axis MF Manager on I-T radar for Lamborghini buy, luxury flats

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Former Chief Trader and Fund Manager of Axis Mutual Fund Viresh Joshi is on the radar of the Income Tax Department amid allegations of irregularities.

Joshi has been accused of taking bribes from the brokers in lieu of sharing mutual fund’s tips.

It has been alleged that he made huge financial gains from the brokers and bought a Lamborghini and several luxury apartments in Mumbai.

It was also alleged that brokers used to pay him on a monthly basis. Joshi allegedly invested in mutual funds by buying many Midcap and smallcap stocks to benefit the brokers and himself.

The I-T department has reportedly formed a team of its elite officials to look into the alleged front-running scam and the Axis Mutual Fund. Around 12 fund managers, including Joshi, are on the radar of the I-T department.

The Axis Bank had said that it had on May 4 suspended Joshi and other fund managers on the charge of alleged front-running.

The Income Tax Department was surprised as the accused didn’t furnish information about their real estate in the tax filing, which was later detected.

The I-T department in its preliminary inquiry found that the fund managers have a number of commercial and non commercial assets, which they allegedly hid in their tax filing. They had even shown that they were not earning from their real estate businesses.

The I-T department has learnt that the fund managers were earning rent from their properties on which the tax was not paid.

The department is also looking into their sources of income, as to how the fund managers were able to buy luxury apartments and other properties.

The fund managers will now face the tax evasion case and there are also possibilities that they might face a parallel probe on their sources of income.

In coming days, the I-T department could summon all of the fund managers to appear before it and furnish the documents regarding their sources of income.

Crime

Badlapur Case: Badlapur school incident accused Akshay Shinde shot himself with revolver

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Mumbai: Badlapur incident accused Akshay Shinde has attempted suicide. The accused tried to commit suicide by taking the police revolver. A police officer has been injured in this incident. Akshay Shinde’s condition is said to be critical. The police have not yet given any information in this regard. The accused was accused of sexually exploiting minor girls in school. At present the police has admitted him to the hospital. It is said that this incident happened when the police was bringing him from Taloja jail to Badlapur.

When, how, what happened?
Apart from rape in school in Badlapur, two other cases of rape were also registered against Akshay Shinde. In this regard, the police had obtained his custody from the court. The incident occurred when he was being taken back from jail to police custody. While being taken for transit remand, Akshay snatched the revolver of the officer sitting next to him and shot himself. According to the latest information, Akshay’s condition is said to be critical.

Allegation of sexual exploitation of girls
Akshay Shinde is accused of sexually exploiting two nursery girls in the school. After being arrested in the Badlapur school case, Akshay Shinde’s wife has filed a case against him. After this case, it was revealed that 26 year old Akshay Shinde had married three times. When no action was taken in this matter, people of Badlapur, Thane demonstrated at the station. After this the government came into action. SIT is investigating this matter. Not only this, the hearing of this case is also going on in Bombay High Court after suo motu cognizance.

Akshay Shinde had confessed to the crime
Akshay Shinde, accused in the Badlapur sexual assault case, had confessed to his crime in front of the doctor during the medical examination. This is mentioned in the charge sheet filed by the police.

In the month of August, a case of sexual exploitation of two girls studying in a school in Badlapur came to light. The investigation of the SIT formed in this case has been completed. Akshan’s wife has accused him of trying to have unnatural sex.

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Crime

Tripura: Police Seize 44 Kg Of Drugs Worth Rs 2.52 Lakh At Agartala Railway Station

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Agartala (Tripura): Agartala Government Railway (GRP) Police seized 44 kg of drugs worth Rs 2.52 lakhs at Agartala Railway Station, railway police said on Tuesday.

About The Seizure

Acting on a tip-off, police on Tuesday conducted a search near the 13th rail track on the Agartala to Jirania route, near Agartala Railway Station. During the operation, authorities recovered 44 kg of dried cannabis from bushes alongside the tracks. The narcotics were allegedly being smuggled out of the state via train.

According to the police, the seized cannabis has an estimated market value of approximately Rs 2.52 lakhs. The Agartala GRP (Government Railway Police) station has launched an investigation to identify the individuals responsible for this illegal consignment. Further action will be taken based on the findings of the investigation.

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Crime

Andhra Pradesh Govt Suspends Three IPS Officers Over Actress Harassment Case

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The Andhra Pradesh government on Sunday suspended three senior IPS officers following an inquiry into the allegations made by a Mumbai-based actress, Kadambari Jethwani. The state government issued orders suspending P. Sitharama Anjaneyulu, then Director General of Police, Intelligence; Kanthi Rana Tata, the then Commissioner of Police, Vijayawada, and Vishal Gunni, then Deputy Commissioner of Police, Vijayawada.

She and her parents allegedly faced harassment at the hands of police officers at the instance of a leader of YSR Congress, which was then the ruling party in Andhra Pradesh. The suspensions were issued under Rule 3 (1) of the All India Services (Discipline & Appeal) Rules, 1969. Sitharama Anjaneyulu has been suspended on allegations of misuse of power and grave misconduct.

He had allegedly instructed the other two officials to arrest the actress, even before a formal crime had been registered. There are allegations that Kanthi Rana Tata arrested the actress based on oral instructions from his superior on January 31, 2024, before the registration of the FIR on February 2.

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