Jaipur, August 25, 2026 (Yes Punjab News)
The Income Tax Department has filed a complaint against Jaipur-based Chartered Accountant Abhishek Jain, alleging that he issued 3,168 Form 15CB certificates without adequate documentation and verification, facilitating foreign remittances worth nearly Rs 23,956 crore over three financial years.
The case came to light following a survey conducted by the Directorate of Investigation on August 18. Jain’s office in Jaipur’s Patrakar Colony area was also inspected during the operation, where officials recovered documents containing details of Form 15CB certificates issued in connection with foreign remittances.
Following the survey, Mintu Lal Meena, Deputy Director of the Income Tax Department, lodged a complaint at the Patrakar Colony police station, leading to registration of an FIR against Jain.
According to the complaint, the transactions took place during the financial years 2021-22, 2022-23 and 2023-24. The department has raised questions about the financial profiles of several individuals and entities associated with the remittances, alleging that some had either not filed income tax returns or reported little or no significant business activity despite large sums being remitted overseas in their names.
The department has also alleged that required documents were not adequately examined before the certificates were issued. These include agreements, account-related documents, Tax Residency Certificates and Form 10F.
The complaint further alleges that the remittances involved around 40 firms, entities and trusts described by the department as suspicious or allegedly bogus. Transactions worth approximately Rs 8,788 crore in the name of one individual and around Rs 9,775 crore in the name of another have been specifically flagged for investigation.
The FIR names Abhishek Jain as the prime accused and invokes Sections 318(4), 234, 229 and 35 of the Bharatiya Nyaya Sanhita.
Police are expected to examine bank accounts, foreign remittance records, Form 15CB certificates and documents linked to the entities involved. Investigators will also determine the roles of individuals who initiated the transactions, intermediaries and others who may have been involved.
The allegations are part of an ongoing investigation and have not been established in court. The probe will determine whether the alleged irregularities were confined to certification or formed part of a wider financial network.
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