RNA Corp fails to deposit TDS and EPF resulting in tax demand notices to its former employees
Mumbai-based RNA Corp has allegedly failed to deposit tax deducted at source (TDS) from salaries of its former employees. This has resulted in its former employees receiving demand notices from the Income Tax Department. In addition, more than 30 employees of Skyline Constructions Company, and AA Associates Pvt Ltd, both units of RNA Corp, have issued recovery notices to the parent company for their outstanding dues.
Alleging that the money collected from home-buyers, loan from banks, unpaid salaries, TDS and provident fund (PF) contributions of employees has been used for buying properties in UK and an extravaganza wedding in Paris, right to Information (RTI) activist Sulaiman Bhimani says, “The Enforcement Directorate (ED) should take cognizance of this and impound passport of promoter-directors of RNA Corp and conduct a forensic audit to find out how this money was remitted to Paris and London.”
(Anubhav Agarwal, Director, RNA Corp)
Mr Bhimani has requested Maharashtra Chief Minister Devendra Fadnavis to take action against promoter-director of RNA Corp.
In addition, CD Chaudhari, Executive Engineer (Estates) at the BrihanMumbai Municipal Corp (BMC) issued a notice to RNA Corp demanding Rs29.02 crore to be paid as capitalized value. The project, for which this notice is issued, was expected to be completed within three years. In addition, RNA Corp was to pay 90% of the capitalised value to BMC before obtaining occupation certificate and certificate to sale component of the project.
However, RNA Corp failed to complete the project within scheduled completion date of 17 March 2010. The delay in completion of project was causing revenue losses to BMC and hardship to the tenants residing in the old buildings.
Moneylife tried contacting Anubhav Agrawal and other executives from RNA Corp, however, there was no response till writing this story. Yogesh Gupta, an associate of RNA Corp, refused to comment.