Latest news with #DirectorateofRevenueIntelligence
Hindustan Times
2 days ago
- Hindustan Times
$41k seized at Amritsar airport, 1 detained
The Ludhiana regional unit of the Directorate of Revenue Intelligence (DRI) detained a passenger at Sri Guru Ram Dass Jee International Airport in Amritsar for attempting to smuggle 41,400 US dollars (approximately ₹35.40 lakh), concealed in his baggage. The passenger, who was travelling to Dubai via Air India Express Flight IX 191 on May 29, was caught carrying $41,400, hidden inside an additional bag placed in his luggage. The concealed currency exceeded the permissible Reserve Bank of India (RBI) limit and was unaccounted for, prompting the DRI to seize it under provisions of the Customs Act, 1962. Preliminary investigations indicate that the individual was engaged in the illegal smuggling of foreign currency for personal financial gain. Officials said that further probe was underway to unearth any broader network or involvement of others. This is the second major seizure of foreign currency by the DRI within a month. On May 3, officials seized foreign currency worth ₹2.66 crore, arresting another individual from Amritsar airport in connection with the smuggling attempt.
India Today
2 days ago
- Business
- India Today
Man caught at Amritsar airport with US dollars worth Rs 35.4 lakh, probe on
The Directorate of Revenue Intelligence (DRI) seized US currency valued at USD 41,400, equivalent to approximately Rs 35.40 lakh, from a passenger at Amritsar's Sri Guru Ram Dass Jee International (SGRDJI) Airport on Thursday, officials said. The man has been taken into custody and is being interrogated by DRI on specific intelligence about a man trying to smuggle foreign currency while on his way from Amritsar to Dubai on Air India Express Flight IX 191, the DRI intercepted him before he could board the flight and searched him, resulting in the 100 dollar denomination bills of the US currency were concealed cleverly within another bag placed inside the main check-in baggage. Upon preliminary examination, it was found that the seized currency was unaccounted for and far exceeded the permissible limits as per the Reserve Bank of India (RBI) guidelines. Indian nationals cannot carry more than USD 3,000 worth of foreign currency on international flights without the permission of the RBI as per the foreign currency was seized under the relevant provisions of the Customs Act, 1962. An initial investigation indicates that the accused was involved in the illegal smuggling of foreign currency for monetary gains. Further investigation is currently marks the second major foreign currency seizure by DRI Amritsar this month. On May 3, the DRI seized foreign currency worth Rs 2.66 crore from a passenger at Amritsar Airport. In that instance, the individual was arrested, and investigations are still Watch
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Business Standard
4 days ago
- Business
- Business Standard
Govt set to relax rules under Advance Authorisation scheme for exporters
Exporters may no longer be denied duty-free import benefits under the Advance Authorisation (AA) scheme simply because their goods were shipped before the licence was issued, according to sources familiar with the matter. The Advance Authorisation scheme allows exporters to import inputs—such as raw materials, components or chemicals—without paying customs duty, on the condition that these will be used to manufacture products for export. The scheme is a key tool to make Indian exports competitive by reducing input costs. 'Even if goods have already been shipped or have arrived in India, they can still be cleared under an Advance Authorisation granted later by DGFT—provided the importer files the Bill of Entry after the licence date. However, this relaxation won't apply to restricted goods or products that can only be imported through designated government agencies, unless DGFT gives special permission,' a senior government official said, requesting anonymity. Until recently, as per sources, field formations of customs, particularly following objections raised by the Directorate of Revenue Intelligence (DRI) in Ludhiana, had taken a strict view that if the shipment left the foreign port before the date on which the AA licence was granted, the benefit of duty exemption should not be available—even if the goods were cleared through customs later. However, after several industry bodies flagged concerns over unnecessary disputes and procedural delays, the authorities have decided that the relevant date for eligibility under the AA scheme is the date of filing the Bill of Entry—this is a legal customs document submitted to Indian Customs to get the goods cleared—that is, when the goods are cleared through Indian customs, not the date of shipment from the foreign country, another official added. An email sent to the Directorate General of Foreign Trade (DGFT), which administers the AA scheme, and the Central Board of Indirect Taxes and Customs (CBIC), remained unanswered till the publishing of this article.
Indian Express
5 days ago
- Indian Express
After actress Ranya Rao, key accused Sahil Jain gets statutory bail in Bengaluru gold smuggling case
A key accused in a gold smuggling case that unravelled following the March 3 arrest of Kannada actress Ranya Rao at Bengaluru airport by the Directorate of Revenue Intelligence (DRI) was granted statutory bail on Wednesday by a special court for economic offences. The Bengaluru court granted statutory bail to Sahil Sakariya Jain, 27, who is accused of being a key facilitator for a gold smuggling syndicate operating in India, after the DRI did not file a chargesheet under the Customs Act of 1962 at the end of 60 days following his March 26 arrest in the Karnataka capital. On May 20 the special court granted bail under similar conditions to Ranya Rao, alias Harshavardini Ranya, 33, and her close associate Tarun Konduru alias Virat Konduru, 36, a Telugu actor arrested on March 9 for smuggling gold in connivance with the actress. However, the two actors and Sahil Jain, an alleged gold/hawala dealer, will not be released from prison as the Ministry of Finance issued executive orders on April 22 for their preventive detention for a year under the Conservation of Foreign Exchange and Prevention of Smuggling Activities (COFEPOSA) Act 1974. The special court for economic offences noted in its bail order for Sahil Jain that 'the said accused No.3 (Sahil Jain) is in judicial custody for more than 60 days and till date the prosecution has not filed the final report'. 'The submissions of the complainant agency (DRI) as to the accused being served with the detention order under the provisions of COFEPOSA Act 1974 in itself will not be the ground to deny the right vested with the accused No.3 as per the section 187 (3) (ii) of BNSS,' the court observed. The court ruled that Sahil Jain 'is entitled to default bail as contemplated u/sec. 187 (3) (ii) of BNSS, as till date the prosecution/complainant has not chosen to file the complaint in the case on hand,' the court said. He can be released on bail on execution of a personal bond of Rs 2 lakh with two sureties and should not violate bail conditions, the court ruled. Sahil Jain was arrested on March 26 by the DRI after he was identified during investigations as the intended recipient of 14.2 kg of gold allegedly smuggled from Dubai by Ranya Rao in association with Virat Konduru. Ranya Rao was arrested following her arrival from Dubai with gold valued at Rs 12.56 crore, which was concealed on her body. On March 9, the DRI arrested Virat Konduru, a US passport holder, after he was identified as the actress's accomplice in the gold smuggling racket. The DRI has alleged that Sahil Jain played a central role in disposing of 49.6 kg of gold worth Rs 40.13 crore smuggled from Dubai by Ranya Rao between November 2024 and February 2025. He allegedly transferred Rs 39.39 crore of her earnings to Dubai. The DRI has alleged that Sahil Jain is part of a sophisticated smuggling network operating in India and abroad and that a prosecution complaint was filed against him by the agency in a Kolkata court on March 5, 2022, in a case involving the smuggling of 41.64 kg of gold. The CBI and the ED are also investigating the gold smuggling case from criminal and money-laundering angles and have registered cases in this regard. The ED recently searched properties including offices of an education trust belonging to Karnataka Home Minister G Parameshwara on the grounds that there had been monetary transactions between the trust and Ranya Rao. The trust headquartered in Tumkur is alleged to have paid Rs 40 lakh towards her credit card bills. The CBI registered an FIR under the Prevention of Corruption Act 1988 along with the BNS section for criminal conspiracy on March 7 on the basis of a letter written by DRI Director-General Abhai Kumar Srivastav. According to the letter to CBI Director Praveen Sood, two foreigners (an Omani and an UAE national) were arrested at Mumbai airport on March 6 while trying to smuggle 21.28 kg of gold valued at Rs 18.92 crore from Dubai. The foreigners had arrived at the airport on multiple earlier occasions as well, the DRI chief's letter said. Since the DRI arrested Ranya Rao, who had also travelled multiple times to Dubai allegedly for gold smuggling, the two cases are similar, the agency has stated. 'The above two cases detected in quick succession involving passengers making trips from Dubai, the attempted smuggling of large quantities of gold into India and the high frequency of these visits involving Indian and foreign nationals, points to a possible nexus with coordinated smuggling syndicate, possibly operating from Dubai (UAE),' says the DRI chief's letter to the CBI director.
Hindustan Times
6 days ago
- Hindustan Times
PMLA court refuses to discharge red sanders smuggler Ajit Satam
MUMBAI: A special court under the Prevention of Money Laundering Act (PMLA) has rejected the discharge application of alleged red sanders smuggler Ajit Satam, who is facing charges of laundering proceeds from the smuggling of 839 metric tonnes of the endangered wood between 2010 and 2011. Red sanders or red sandalwood is an endangered species found only in south India, especially in Andhra Pradesh. In an order passed on May 15, special judge A C Daga ruled that there was prima facie evidence indicating Satam's involvement in smuggling activities and in laundering the profits generated. The court observed that Satam had 'himself admitted to the generation of proceeds of crime, their layering, and projection as untainted,' in his statement recorded under Section 50 of the PMLA. According to the Enforcement Directorate (ED), Satam allegedly earned ₹40 crore in cash from the illegal trade and later laundered the amount through various financial transactions. He is accused of converting the cash into cheques and RTGS transfers, and depositing the funds into bank accounts to give them the appearance of legitimate income. The ED said he used these laundered funds to acquire luxury vehicles and real estate. The Directorate of Revenue Intelligence (DRI) had seized red sanders consignments weighing 839.4 metric tonnes from locations, including Nhava Sheva, ICD Dighi, and Talegaon. Satam contended in his plea that the seizure was illegal and beyond the jurisdiction of the customs commissioner. His lawyer argued that there was no evidence linking him to the sale proceeds or smuggling operations. However, the ED maintained that there was substantial evidence of his involvement, including his own statements. The court noted that Satam had disclosed exporting approximately 40 containers of red sanders to Dubai and admitted to the use of multiple bank accounts to layer the proceeds of the crime. Rejecting the discharge plea, the court concluded that there was sufficient material to proceed with framing charges and ruled that no case had been made for granting bail.
