Mumbai : In a major crackdown, the Directorate of Revenue Intelligence (DRI) Mumbai has arrested a businessman from Oshiwara for allegedly orchestrating a massive ₹30 crore customs duty evasion racket involving undervalued imports of branded luxury furniture.
According to DRI officials, the accused was misusing multiple dummy Importer Exporter Codes (IECs) to import high-end furniture at grossly undervalued prices, concealing actual brand names, and using shell companies both in India and overseas to evade customs duties.
The arrest follows a detailed investigation based on intelligence inputs, which led to multiple searches, live import examinations, and the collection of crucial evidence. Officials say the accused appears to be a key player in a larger international syndicate engaged in systematic misdeclaration and duty evasion.
The DRI has confirmed that other members of the syndicate are still at large, and further investigation is underway into illegal money transfers through hawala networks and the sourcing of the luxury goods.
The probe remains active, with authorities intensifying efforts to uncover the full extent of the international smuggling and tax evasion operation.
