Mumbai, July 16: Mumbai High Court will tomorrow hear
a petition filed by tainted broker Ketan Parekh urging for
lifting the attachment of properties of his firm by Income Tax
department.
The petition will come up for hearing before justice
Hemant Gokhale and Justice J P Deodhar.
Income tax authorities have claimed Rs 320 crore from
Ketan Parekh's firm Panther Fincap Pvt Ltd.
Urging the court to lift the attachment of properties,
Ketan Parekh has pleaded that he and his firm had to pay
Madhavpura Cooperative Bank Rs 500 crore.
Parekh also submitted that the value of the properties at
the time of attachment was Rs nine crore. Now the value had
gone up to Rs 27 crore.
He, therefore, pleaded that the income tax authorities
should retain Rs nine crore and release the balance amount.
Bureau Report
