Shemaroo Entertainment Executives Arrested for Tax Fraud of Rs 70.25 Crore, Later Bailed

  • CEO Hiren Gada, joint managing director Atul Maru and CFO Amit Haria alleged to have used shell companies for fraudulent Input Tax Credit (ITC) claims.
  • ITC obtained without actual receipt of goods/services led to substantial government losses.
  • After court hearings, all three executives were released on bail and not sent to judicial custody.
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