DRI probes global syndicates' role in Rs 1,000 cr hawala ring
Investigation into the over Rs 1,000 crore alleged hawala racket unearthed in Punjab has found the involvement of certain international syndicates and Delhi-based businessmen.Updated: Jul 09, 2012 13:56 IST
Investigation into the over Rs 1,000 crore alleged hawala racket unearthed in Punjab has found the involvement of certain international syndicates and Delhi-based businessmen.
Sources in the Directorate of Revenue Intelligence said a large number of documents and data storage devices seized from the official and residential premises of two Ludhiana-based businessmen have given sufficient proof related to working of a well-established syndicate having reach within and outside the country.
They said the DRI is getting the pen drives, compact discs and other seized devices forensically examined for more evidence to nail the culprits.
The officials claimed they have exposed the racket while probing a scam by an exporter who fraudulently used inflated bills to misuse a duty drawback scheme run by the finance ministry and gained incentives worth Rs 60 crore.
The government's duty drawback scheme provides rebate on duty chargeable on any imported material or excisable material used in manufacturing or processing of goods manufactured in India and exported.
They claimed the exporter, who runs several export firms in Ludhiana, was sending garments to the US and Middle Eastern countries by inflating the cost of the garments with the help of an alleged hawala operator.
"We have called the hawala operator for questioning twice in recent times but he did not turn up. We will again call him for questioning," a DRI official said.