Diamonds worth Rs 5 crore seized | mumbai | Hindustan Times
Today in New Delhi, India
Apr 23, 2017-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Diamonds worth Rs 5 crore seized

mumbai Updated: Dec 10, 2011 01:47 IST
HT Correspondent

The Air Intelligence Unit of the Customs recently seized imported diamonds worth more than Rs5 crore after finding that a part of the consignment that reached the Chhatrapati Shivaji International Airport was undervalued and not declared. The cut and polished diamonds were imported from Belgium and arrived in the city on Monday.

On receiving information, an AIU batch headed by deputy commissioner of Customs Sameer Wankhede intercepted the same and found that the consignment was declared as carrying 494.73carat diamonds, valued at Rs3.55 crore. On examination, they found the consignment was carrying 215.37carat diamonds, worth Rs1.53 crore, in excess.

The officials seized the entire consignment carrying 710.10carat diamonds, worth more than Rs5 crore. PM Saleem, commissioner of customs, airport, confirmed the seizure.

Officials said that they would now summon the importer and hear him before imposing a fine and penalty for not declaring the valuables.

They said no arrest is likely, as there is no import duty on diamond and no revenue loss. “The fine and penalty would be levied, as the importer had failed to declare the correct value of the goods in the consignment,” a Customs official said.

Officials said that they would, however, inform the income tax authorities and the Enforcement Directorate, as it needs to be investigated if the excess consignment is unaccounted or a part of hawala (illegal channel of transferring money) transaction.