Big accounting fraud unearthed at Ramky Group Hyderabad
Big accounting fraud unearthed at Ramky Group Hyderabad #RamkyGroup #Fraud #Scam #business #Hyderabad
The Tax Department searches at Ramky Group in Hyderabad today led to unearthing of an artificial loss of approximately Rs 1,200 crore. The search revealed that the Group had incorrectly claimed bad debts to the tune of Rs 288 crore on account of related party transactions, which was set off against the profits earned. The entities and their associates have admitted to having an unaccounted…
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