BJD Rajya Sabha nominee N Bhaskar Rao is allegedly not only an Income Tax evader but also a financial defaulter as it has now been revealed that several complaint cases under the Companies Act are pending against him in the Court of Additional Chief Judicial Magistrate (Special) here.
Being one of the directors of the Aditya group of companies dealing in trading, marketing, logistics, industries, power projects and mines, Rao is an alleged habitual offender of not filling his companies’ annual returns, balance-sheets and profit-loss accounts before the Registrar of Companies at the Corporate Bhawan here.
As per the provisions of the Companies Act, Rao is under statutory obligation to file the annual returns of his companies every year within six months of the annual general meeting of the companies. But despite repeated show-cause notices issued by the Registrar, the BJD leader has not filed the necessary documents for over four years now.
In at least four cases registered against Rao in the year 2008, the court issued non-bailable warrants (NBWs) if arrest against him. Subsequently, however, all these cases were disposed of in April 2010, but the NBWs have still not been executed by the police nor have they been recalled yet.
On verification of records, it was also revealed that two cases each were pending against Rao in the years 2012, 2013, 2014 and 2015. When asked about the status of these cases, Rao told this correspondent over telephone that his chartered accountant is dealing with the court cases and he is not aware of the present status of the pending cases.
Stating that the accused is liable for punishment under Section 162 (1) of the Companies Act, the Registrar of Companies in its petitions has mentioned that the companies owned by Rao are guilty of committing offences within the meaning of Section 472 of CrPC, and the accused should be summoned and punished in accordance with law.