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- Published: August 22, 2020 21:23
New Delhi: Arindam Chaudhuri, the founder director of Indian Institute of Planning and Management (IIPM), was arrested by Central Goods and Services Dept (CGST) on Friday, allegedly over tax irregularities.
The once high-flying management institute led by famed Arindam Chaudhuri has been caught in the spot over alleged service tax evasion.
The CGST officials arrested Chaudhuri last evening over irregularities in IIPM balance sheets and produced him in court. A Delhi court has remanded him to 14 days judicial custody. One of his directors also accompanies him in judicial custody.
According to sources, the institute director made a credit entry of CENVAT of nearly Rs 23 crore after facing a cash shortfall to pay the service tax. He showed this amount in next year’s balance sheets but this was never paid.
Similar cases of financial bungling were reported in the accounts of the famed institute earlier also, said officials privy to information.
Not much back, Arindam Choudhury was the leading face of management studies. His books like, “Don’t count your chickens till they are hatched” were a big hit as it struck strong chord with students.
Not the first instance of arrest
Arindam Chaudhuri was arrested in March this year for allegedly submitting a forged medical certificate when police asked him to join investigation in connection with a 2016 case. He was however subsequently given bail.
In 2015, Delhi Police had registered an FIR against IIPM on the complaint of UGC that the institute was ‘misleading, cheating and fooling’ students as it was not recognized by any regulatory body.
