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Strict enforcement of modvat provisions and deterrent punishment against fradulent/wrong availment of modvat credit

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....he C & AG of India for the year ended 31.3.92 (No. 4 of 1993) regarding fraudulent availment of Modvat Credit by M/s. Sipani automobiles Limited Bangalore- Regarding. The PAC on Audit Para 3.48/ 91-92 on the report of the C & AG for the year ending 31.3.1992. (No 4 of 1993) regarding fraudulent availment of Modvat Credit by Sipani Automobiles, Bangalore has desired that the Ministry of Finance ....

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