Archive · 6 Sep 2026
Mumbai Police Probe Two CA Cases Over Alleged Overseas Remittances
Mumbai police are investigating two reported cases involving chartered accountants and overseas money transfers.
The cases concern Form 15CB certificates, which are used when certain payments are sent outside India.
Officials allege that some certificates were issued without checking important financial paperwork.
One report names four accountants and says transfers totaled ₹2,575.83 crore.
Another names Ganesh Arun Patne and says transfers totaled ₹4,804 crore and ₹54 lakh.
Investigators say some companies had low reported income and could not be found at their registered addresses.
They suspect some of the companies may have been shell companies.
Police are checking the documents, money transfers and other people connected to the cases.
Two reports describe separate M.R.A. Marg police cases involving alleged misuse of Form 15CB certificates for overseas remittances.
One case names four chartered accountants and alleges remittances totaling ₹2,575.83 crore from 2021-22 to 2024-25.
The other case names Ganesh Arun Patne and three companies over alleged remittances of ₹4,804 crore and ₹54 lakh during 2022-23 to 2024-25.
The Income Tax Department alleges the certificates were issued without checking accounts, agreements, supporting documents and other required records.
Investigators say several companies could not be found at their registered addresses, reported low income and may have operated as shell companies.
- Who
- M.R.A. Marg Police, the Income Tax Department, four chartered accountants in one reported case, Ganesh Arun Patne in another, and directors, associates and companies named in the complaints.
- What
- Investigations into alleged fake or unverified Form 15CB certificates used to facilitate large overseas remittances.
- When
- The reported transactions occurred between financial years 2021-22 and 2024-25; one report is dated September 5, 2026, and an inquiry in the other case was conducted on August 18, 2026.
- Where
- Mumbai, with both cases registered by M.R.A. Marg Police.
- Why
- The Income Tax Department alleges that required documents were not verified, potentially facilitating tax evasion, unlawful remittances and financial irregularities.
Income Tax Department Allegations
Reported Accused Position
Document verification
Income Tax Department Allegations
The department alleges that the accountants issued Form 15CB certificates without examining the required accounts, agreements and supporting documents.
Reported Accused Position
The reports say some accountants admitted during inquiries that they had not personally verified the underlying records; no separate public defense is provided in the articles.
Role in remittances
Income Tax Department Allegations
Officials allege the certificates enabled large overseas transfers, tax evasion and possible damage to foreign-exchange reserves and economic integrity.
Reported Accused Position
The articles report that the accused described introductions, phone-based dealings, use of staff or associates, or sharing of digital-signature credentials, but they do not establish the final legal responsibility.
Status of companies
Income Tax Department Allegations
The department says several named entities could not be located at their registered addresses, reported very low income and are suspected shell companies.
Reported Accused Position
The articles contain no response from the companies or their directors contesting those allegations.
- Reported cases
- The articles describe two separate reported investigations involving Form 15CB certificates.
- First reported amount
- ₹2,575.83 crore allegedly remitted overseas between financial years 2021-22 and 2024-25.
- Second reported amount
- ₹4,804 crore and ₹54 lakh allegedly remitted overseas between financial years 2022-23 and 2024-25.
- Accountants named in first case
- Ravi Dhanpat Singh Chaudhary, Abhishek Arvind Kulkarni, Sitaram Mahabaleshwar Bhat and Nalin Ratilal Panchal.
- Accountant named in second case
- Ganesh Arun Patne.
- Certificates described in first case
- The four accountants allegedly issued a combined 2,980 Form 15CB certificates: 618, 408, 163 and 791 respectively.
- Alleged compliance failure
- The Income Tax Department says relevant books, agreements, bills of lading, payment details and tax-related documents were not properly verified.
- Investigation status
- Police are tracing transactions, examining documents and identifying other people allegedly involved.
