• Fri. Nov 22nd, 2024

    CEO of Shemaroo Entertainment Hiren Gada arrested for tax fraud of Rs 70 crore

    shemaroo

    The Central Goods and Service Tax (CGST) Department on Wednesday arrested Hiren Gada. He is the Chief Executive Officer (CEO) of Shemaroo Entertainment Ltd. He has been allegedly committing tax fraud amounting to Rs 70.25 crore. Shemaroo Entertainment Ltd has produced several Bollywood movies and also owns a video on demand application.

    GST officials learnt that Hiren Gada and his associates created various shell firms to claim Input Tax Credit (ITC) amounting to crores of rupees, leading to heavy losses to the government exchequer. Gada admitted to creating the said firms to avail tax credits of Rs 70.25 crore without supplying any goods or services.

    CEO booked under relevant sections of the CGST Act

    He was produced before a Mumbai court on Thursday where his lawyers said the GST officials “illegally” detained him for over twenty-four hours. The GST officials, however, said Gada was questioned Wednesday and arrested the same day, then taken to court the next day. After hearing the arguments from both sides, the court released the Shemaroo CEO and did not send him to judicial custody. 

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    About Hiren Gada

    hiren gada

    Hiren Gada is the CEO of Shemaroo Entertainment. It is a leading Indian content powerhouse that specializes in content creation, aggregation, and distribution across various media platforms. Under his leadership, Shemaroo Entertainment has become a prominent player in the Indian entertainment industry. Shemaroo has a strong presence in areas such as film distribution, digital content, and more.

    Hiren Gada has been instrumental in the company’s growth and diversification, expanding its content offerings to cater to a wide range of audiences. Shemaroo Entertainment is known for its extensive library of films, music, and digital content. Shemaroo has made a significant contributor to India’s entertainment landscape.

    As CEO, Hiren Gada has played a pivotal role in steering Shemaroo Entertainment’s strategic initiatives, partnerships, and digital expansion. It has been helping the company stay at the forefront of the rapidly evolving media and entertainment industry in India.

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