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Hans India
24-05-2025
- Business
- Hans India
Key suspect arrested for creating bogus invoice worth hundreds of crores of rupees
Visakhapatnam: In a significant breakthrough, officers of the Directorate General of GST Intelligence (DGGI), Visakhapatnam zonal unit, arrested an individual, who allegedly generated bogus invoices worth Rs 643.81 crore, responsible for a massive Goods and Services Tax (GST) input tax credit fraud, leading to a loss of Rs 115.88 crore to the government exchequer. The accused is believed to have masterminded a complex scheme involving creation of shell entities, companies using stolen identities of unsuspecting individuals, operating his network in the states of Andhra Pradesh, Tamil Nadu and Karnataka. The fraud was orchestrated by the accused to generate fraudulent input tax credit claims, which were subsequently passed on to other businesses by generating bogus invoices without underlying supply of goods or services, to illegally reduce GST liabilities. The accused created more than 302 firms with the stolen identities, allowed the receiving firms of these invoices to evade tax payments and divert substantial sums of money by defrauding the public exchequer. The investigation led by the DGGI Visakhapatnam zonal unit, uncovered a network of fake businesses that existed only on paper. These companies did not conduct any legitimate business activities but were utilised as vehicles for issuing false invoices and claiming unearned tax credits. Following search operations in Andhra Pradesh, Karnataka and Tamil Nadu, the authorities arrested the accused and the key suspect, Aboobakr Siddique Syed, in Bengaluru, under section 69 of CGST Act-2017. After taking a transit remand, the accused, native of Pernambut, Vellore, was brought to Visakhapatnam and produced before the Special Judge Economic Offences Court, Visakhapatnam. The court has remanded the person to judicial custody for 14 days. Further investigation is under progress.
India Gazette
20-05-2025
- India Gazette
Kannada actor Ranya Rao gets conditional bail in gold smuggling case
ANI 20 May 2025, 18:52 GMT+10 Bengaluru (Karnataka) [India], May 20 (ANI): Kannada actor Ranya Rao on Tuesday was granted conditional bail by the Economic Offences Court in an alleged connection with a gold smuggling case. Despite the bail, she will remain in jail under the COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act) case. Tarun Kondaraju, a co-accused in the gold smuggling case, was also granted conditional bail. The court approved their release on the condition that each submits two sureties and a personal bond of Rs 2 lakh. The court also barred both from leaving the country and ordered them not to commit similar offences. Ranya Rao was arrested on March 3 at Bengaluru's Kempegowda International Airport after DRI officials found her carrying gold. The Central Bureau of Investigation (CBI) later filed an FIR based on a complaint by Abhishek Chandra Gupta, Additional Director of DRI. The FIR was registered under the Prevention of Corruption Act of 1988 and several sections of the Bharatiya Nyaya Samhita (BNS). According to the complaint, two foreign nationals were arrested at Mumbai Airport on March 6 for attempting to smuggle 21.28 kg of gold into India, valued at Rs. 18.92 crore. (ANI)
Mint
20-05-2025
- Mint
Kannada actress Ranya Rao gets bail in gold smuggling case, but to remain in custody under stringent law
Gold smuggling case: The Economic Offences Court in Bengaluru on Tuesday granted default bail to Kannada actress Ranya Rao and co-accused Tarun Kondaraju in connection with a gold smuggling case. However, the actress is likely to remain in custody under a stringent anti-smuggling law. They were granted bail on two sureties each and a ₹ 2 lakh bond. The court also imposed strict conditions — they cannot leave the country and must not commit a similar crime. The court issued a stern warning, noting that any breach of these conditions would lead to the cancellation of their bail. Ranya's lawyer, BS Girish, argued that the actress will not be released even if she gets bail, as a case has been registered against her under the stringent Conservation of Foreign Exchange and Prevention of Smuggling Activities (COFEPOSA) Act, 1974. The stringent charges were applied after multiple attempts were made by the accused to secure bail. Authorities said that it was necessary to prevent her from resuming illicit activities, citing her lack of cooperation during the investigation. Ranya Rao, the stepdaughter of senior police officer K Ramchandra Rao, was arrested on March 3 for allegedly smuggling 14.2 kilogrammes of gold valued at over ₹ 12.56 crore. The Karnataka government has formed a special team, led by a senior IAS officer, to probe the potential involvement of DGP Ramchandra Rao in the smuggling racket. She is currently lodged at the Bengaluru central prison along with two others — Tarun Raju and Sahil Sakaria Jain — who have also been booked under the COFEPOSA Act. The case is being investigated jointly by the Directorate of Revenue Intelligence (DRI), the Enforcement Directorate (ED), and the CBI. Last month, Ranya Rao told the Karnataka High Court that the search and seizure carried out by the Directorate of Revenue Intelligence (DRI) violated provisions of the Customs Act. Senior advocate Sandesh J Chouta, representing Ranya, argued that the search was conducted in violation of Section 102 of the Customs Act, which mandates that any person being searched has the right to be taken before a magistrate or a gazetted customs officer. Chouta told the court that the grounds of arrest were not formally communicated to Ranya's family members in writing, as required under the law. The actress was arrested at Kempegowda International Airport in Bengaluru after authorities seized gold bars worth ₹ 12.56 crore from her possession.
Hindustan Times
20-05-2025
- Hindustan Times
Kannada actor Ranya Rao granted bail in gold smuggling case, to stay in jail under COFEPOSA case
Kannada actor Ranya Rao and co-accused Tarun Kondaraju on Tuesday were granted conditional bail by the Economic Offences Court in connection with a gold smuggling case, on two sureties each and Rs. 2 lakh bond.
