Itanagar, March 31 – The Enforcement Directorate (ED) has provisionally attached properties and assets worth ₹14.85 crore in Howrah and Hooghly in West Bengal, and in Guwahati, in connection with a GST-related fraud involving nearly ₹100 crore, an official statement said on Tuesday.
The Directorate of Enforcement (ED), Itanagar Sub-Zonal Office, said the attached assets include movable assets, specifically the shareholding of a company called Ganesh International, valued at ₹11.88 crore in a listed entity, along with immovable properties belonging to three other individuals.
The provisional attachment of assets has been carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, through an order dated March 30, in connection with the Input Tax Credit (ITC) fraud.
A charge sheet was also filed on March 30 against 15 accused for their involvement in fake ITC, the ED said.
The investigation by the federal probe agency is based on an FIR registered for scheduled offences under various sections of the Indian Penal Code (IPC), 1860.
In this case, search operations were conducted on January 20, 2026, at 10 locations across Arunachal Pradesh, Kolkata, Jharkhand, and Manipur, during which various incriminating evidence was seized, and statements were recorded, the ED said.
The investigation revealed that the company, Siddhi Vinayak Trade Merchant, is a non-existent shell entity that fraudulently generated fake ITC amounting to approximately ₹99.31 crore by issuing invoices without any actual supply of goods, the ED said.
The ED probe established that the fake ITC was systematically layered and routed through a network of shell and non-existent entities, including AC Enterprise, Riya Rishita Enterprise, Prince Enterprise, P Enterprise, Rangoli Enterprise, among others, the statement said.
These entities were found to be non-operational at their declared principal places of business, and summons issued to them remained unserved. The investigation also revealed that the same entity issued fake bills for multiple commodities like cement, leather products, electrical items and iron-steel, and a few of them admitted that no sale-purchase took place in relation to that, the ED said.
A detailed investigation into the layering of transactions revealed that Riya Rishita Enterprise, identified as a non-existent entity, fraudulently availed ITC and acted as an intermediary for the transfer of fictitious ITC, the ED said.
Furthermore, it has been established that Ganesh International (now converted to a limited company Ganesh Infraworld Limited), controlled by Vibhoar Agrawal, Phoenix Hydraulics controlled by Dileep Kumar Agrawal, Fama Marketing controlled by Mrig Mrinal Dhawan, and Anjani Impex controlled by Dhaneswar Prasad Yadav, ultimately received and utilized fraudulent ITC amounting to ₹14.85 crore from the aforesaid fictitious entities without any genuine supply of goods, the statement said.
This fraudulent ITC was utilized to discharge GST liabilities based on fabricated invoices and e-way bills, it said.
The beneficiary entities reported disproportionately high turnovers without any commensurate underlying business activity, relying on fake invoices and fraudulently availing the ITC so generated. This clearly indicates a systematic process of layering and laundering of Proceeds of Crime, the ED said.