Authorities seized the properties of Jatan Prasad Lal Chand Prasad (JPLP) departmental store in Phuentshogling town yesterday. The owner, Lal Chand Prasad, an Indian national convicted for evading tax failed to restitute Nu 154 M.
As per the Supreme Court’s judgment in May, he was supposed to pay the amount within one month.
The departmental store will now remain under lock and key. Officials from the Anti-Corruption Corruption and relevant agencies were present during the seizure.
Sources say the properties will be auctioned. The owner who was detained in 2015 for three months was released on bail after paying eighty million ngultrum. This amount will be deducted from the total restitution amount.
In May this year, the Supreme Court had sentenced Lal Chand Prasad, who is at large to five years in prison for evading tax between 2011 and 2014. He was also ordered to restitute Nu 154 M.
In 2019, the larger bench of the High Court upheld the judgment of the Dungkhag Court. That time, he was just liable to restitute more than Nu 14 M and an additional Nu 7 M in back taxes and penalties. The Anti-Corruption Commission had appealed to the Supreme Court.
The Anti-Corruption Commission investigated the JPLP wholesale and retail business for tax evasion in 2015.
Sonam Penjor, Phuentshogling
Edited by Tandin Phuntsho
