Sitharaman replied on X to a put up late Saturday saying: “Thanks for sharing this. Will examine.”
The feedback got here after the managing director and chief govt of Fino Funds Financial institution, Rishi Gupta, was arrested on Friday by the Directorate Basic of GST Intelligence (DGGI) in Hyderabad beneath provisions of the Central and State GST Acts, the financial institution mentioned in a regulatory submitting.
Additionally Learn: Fino Financial institution CEO Rishi Gupta arrested beneath GST acts
Banks in its assertion mentioned the probe pertains to transactions involving one of many financial institution’s enterprise companions and isn’t tied to the financial institution’s personal GST compliance. The financial institution mentioned none of its different officers have been implicated and that it was cooperating with investigators. Chief Monetary Officer Ketan Service provider was named interim head to supervise operations.
Social media put up raised questions in regards to the scope of powers beneath the GST regime and requested how a regulated financial institution CEO may very well be arrested over points related to a enterprise accomplice, urging the finance ministry to intervene.
