Greater Noida, Jun 21 (IANS): The Uttar Pradesh Police said on Friday it had arrested four men from Greater Noida and claimed to have busted six fake firms allegedly involved in a fake e-way bill racket amounting to Rs 60 crore.

The accused have been identified as Rajiv Kumar, the mastermind, Vipin, Satendra and Nitin Bansal, who allegedly generated e-way bills (GST related challans to transport consignments) of over Rs 615 crore by using the fake companies.

"In 2018, the GST department had identified six fake firms in Greater Noida following which a complaint was made to the police. Later the case was transferred to us," said Raj Kumar Mishra, Deputy Superintendent of Police, Special Task Force (STF).

"During investigation it came to light that the six firms which were registered at Greater Noida never existed," Mishra said.

He said two men from the gang worked in the district GST office, helping them to identify loopholes in the system.

"The accused established the non-existent firms on the basis of forged documents like rent agreements, electricity bills, PAN cards. We have seized a laptop, eight mobile phones, fake documents and money," Mishra said.

He said some 20 firms were reported to be fake. Only six of them were located at Greater Noida and the rest reportedly had addresses in the national capital.