Ludhiana, Aug. 24 -- The Sarabha Nagar police have registered a case against two Ludhiana-based chartered accountants following a complaint filed by the income tax department alleging that they issued certifications that facilitated overseas remittances totalling about Rs.175.53 crore through a company that the department suspects is a shell entity.

The accused have been identified as Rishav Gupta and Lovepreet Singh. The case follows a survey conducted by the directorate of income tax (investigation), Ludhiana, on August 18 at the office of Rishav Gupta and Associates.

According to the complaint, the department's investigation revealed that the accused had allegedly issued Form 15CB certificates in connection with outward foreign remit...