Mumbai court grants bail to high-end furniture businessman in Rs 30 crore customs duty evasion case
Shroff, the owner of Di Lusso Furniture LLP, was arrested on July 20 for allegedly importing high-end Italian luxury furniture by grossly undervaluing goods and evading customs duties.
While granting bail, the court observed that Shroff had no prior criminal antecedents and cooperated with the investigation. The court noted that the DRI had already seized all documentary and electronic evidence, including emails, account books, and devices, during searches at Shroff's office and residence.
The accused also deposited Rs 5 crore towards duty payment and expressed willingness to pay more, without admitting any liability, although his bank accounts are currently frozen, argued his advocate Sujay Kantawala.
The court directed Shroff to be released on a personal bond of Rs 2 lakh with sureties and imposed strict conditions prohibiting him from tampering with evidence or influencing witnesses. The court remarked that further custodial interrogation was not necessary at this stage as the investigation into past imports will take considerable time.
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DRI officials alleged that Shroff, along with co-accused Sambhaji Bhosale and Manoj Rai, imported premium furniture brands like Poltrona Frau, Fendi, and Minotti using shell companies and dummy Importer Exporter Codes (IECs). The syndicate allegedly fabricated invoices through front firms in Dubai and Singapore to undervalue imports, thereby suppressing customs duty liabilities. All three were released on bail.
Officials said the racket has international ramifications and more arrests are likely as several dummy companies and overseas collaborators remain under the scanner.
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