The Central Bureau of Investigation (CBI) has officially lodged a chargesheet against seven individuals, which includes a Delhi-based private company and its Director, along with the former Superintendent of Customs, before the Special Judge, CBI Cases in New Delhi.
The case originated from a complaint by the Customs Department, leading to the registration of a case against the aforementioned private company, its Director, and others, including the former Customs Superintendent, private individuals, and unidentified persons.
The alleged wrongdoing involves the export of gold jewelry from India under the pretense of a fictitious exhibition organized by a UAE-based firm under the control of the mentioned Director of the private company. The accused private company purportedly obtained export certificates from the Gem & Jewellery Export Promotion Council (GJEPC). Subsequently, the same jewelry was allegedly brought back into India as unsold merchandise through the submission of false declarations.
The Director of the private company, aided by employees and a dummy proprietor paid by the Director, is accused of misusing reimport provisions by declaring gold jewelry as reimports without obtaining the necessary clearance. Earlier searches at the accused’s premises revealed the misuse of the Advance Authorisation Scheme and involvement in circular trading of gold, diverting gold bullion to the grey market.
The investigation uncovered a pattern where gold jewelry exported for exhibition purposes was re-imported by the accused private company or sent back from the UAE-based firm to the Delhi-based private company as unsold jewelry.
Allegedly, the UAE-based firm filed Customs Declarations indicating the export of a small quantity of gold jewelry to India by personal carriage through the accused for less than a kilogram, while simultaneously declaring exports of larger quantities (around 50 kgs) to other countries. Flights to India and other destinations were chosen on the same day, at the same time, and from the same airport. Following emigration formalities in Dubai, larger quantities of gold jewelry were purportedly handed over to individuals destined for India.
One of the accused is reported to have traveled to Dubai from India approximately 100 times during the period 2018-2019. In 2019, this individual was intercepted at IGI Airport in Delhi, allegedly in illegal possession of around 50 kgs of gold jewelry.
The investigation is ongoing, and further developments are awaited.
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