DRI busts Rs 139 crore walnut import duty evasion racket in Mumbai, held | Mumbai News

Walnut import scam worth Rs 139 crore unearthed in Mumbai, Dubai trader held (Representative image)

MUMBAI: The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit have arrested the proprietor of a Dubai based trading firm in a major customs duty evasion case involving undervaluation of imported inshell walnuts, causing a loss of over Rs 139 crore to the government exchequer.The DRI officials received intelligence that M/S Deepak Trading co having registered office in Gujarat and Surat was importing inshell walnuts from Chile through Nhava Sheva Port by undervaluing them and thereby evading basic Customs duty as well IGST.The used to provide undervalued invoices to the importers as per their requirements. The invoices raised by UAE based third party entities, were submitted to Indian Customs, instead of furnishing the actual invoices raised by the Chile based supplier. On the basis of intelligence, the agency conducted searches, studied the invoices and export documents and during the analysis it transpired that using this modus operandi the importer had evaded Customs duty tune to Rs 139.74 Crores. Investigation revealed that UAE based firm had supplied undervalued invoices of inshell walnuts to three importers namely Dipak Kiryana Stores, Dipak Trading co and Angel Enterprises.The DRI arrested Makbul Ahmed Siddiq Dhoki (49), owner of Dubai-based Euro Seven General Trading LLC after being intercepted at Ahmedabad International Airport while arriving from the UAE. Dhoki’s advocate Sujit Sahu told court that his client has paid proper duty to the Customs and whatever allegations levelled are baseless. The accused allegedly supplied undervalued invoices through his UAE-based firm, which were submitted to Indian Customs instead of actual invoices issued by Chilean suppliers, thereby evading Basic Customs Duty and IGST.Officials said the undervaluation ranged between 50 to 70 per cent, and the accused admitted in his statement that he provided undervalued invoices to the Indian importers in exchange for commission.The DRI told the court that the accused had formatted his mobile phone and was not cooperating with the investigation, and that the case also involves suspected hawala transactions and international money laundering. The agency said custodial interrogation is necessary to trace financial transactions, identify other accused and prevent destruction of evidence.The court remanded to accused to judicial custody.