Question : Investigation of IFFCO Case

a) whether it is a fact that Income Tax Department and the Directorate of Enforcement are conducting investigation against the top management of Indian Farmers Fertilizers Cooperative Limited(IFFCO) with regard to wrong disclosure in violation of established practices and siphoning of money and money laundering activities;
b) if so, the details of investigation and the status of each case;
c) whether the Directorate of Enforcement is also investigating into investment of IFFCO in the Legend International Holding, Australia; and
d) if so, the details thereof?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)

(a) to (d):- On the basis of credible information of tax evasion and money laundering, the Income Tax Department and Directorate of Enforcement conduct search and seizure actions in cases of various persons, including companies, which are engaged in diversified activities, including manufacturing, mining, real estate etc. across different sectors spread all over the country, and sometimes internationally also. The disclosure of information in respect of specific assesses is prohibited except as provided under Section 138 of the Income Tax Act, 1961.