The court refused to grant bail to CA alleged of smuggling diamonds and gold worth Rs. 348 crores.
The Chartered Accountant (CA) Ravindra Kumar, a resident of Jhunjhunu and Omprakash, a resident of Ajmer was sent to judicial custody till December 9 and the bail plea of the arrested businessman will be heard on Wednesday.
Based on information received from a bank regarding foreign remittances made by certain firms registered in Jaipur against ‘non-physical imports’, the matter was taken up for investigation. Investigations carried out indicated that the said firms were fraudulent and they had undertaken bogus transactions with the help of false certificates provided by the CA. Investigations further revealed that the remittances are likely to have been made against illicit imports of gold and diamonds. Searches were conducted at various premises located at Jaipur, Beawar, Vijaynagar, Surat, Mumbai, Visakhapatanam & Bhubneshwar and M/s Belstar Techno Solutions (OPC) Pvt. Ltd. & and many other firms were found non-existent.
These goods were smuggled by businessmen from Gujarat and Mumbai and paid for in Hong Kong and UAE through IT companies existing only on paper in Rajasthan.
Prima facie, officials suspect that the gang have made thousands of crores through this racket which involved gold and diamond smuggling. Kumar sent money abroad from 14 branches of 11 banks and had issued 310 remittance certificates. Based on these, payment for smuggled gold and diamonds was sent to Hong Kong and UAE. The two companies from whose accounts the amount of smuggled goods was sent are based in Jaipur.
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