DRI arrests man, seizes premium watches worth ₹30 crore

The DRI said on Saturday that acting on an intelligence that was developed over the past several days, an agency team arrested the accused at the Kolkata international airport on his arrival from Singapore

MUMBAI: The Directorate of Revenue Intelligence (DRI) Mumbai Zonal Unit has arrested a man for allegedly smuggling high-end premium watches and seized 35 watches worth around ₹30 crore.

DRI arrests man, seizes premium watches worth ₹30 crore

Most of the watches seized by the DRI are ‘Limited Edition’ of exceptionally high value, which could cost almost a crore per piece, sources said.

The DRI said on Saturday that acting on an intelligence that was developed over the past several days, an agency team arrested the accused at the Kolkata international airport on his arrival from Singapore. He was carrying a “very expensive Greubel Forsey watch”, which had not been declared before Customs to avoid paying the duty, a DRI source said.

After questioning the accused, the DRI team carried out a search of his residence at an upscale residential complex in the city that yielded a virtual trove of 34 high-end watches of various premium brands, including Greubel Forsey, Purnell, Louis Vuitton, MB&F, Mad, Rolex, Audemars Piguet and Richard Mille, he had smuggled into the country during several overseas trips.

Import of watches by individuals through baggage attracts 38.5% Customs duties as per the Baggage Rules, which was evaded by the accused, the sources said. He was arrested under section 104 of the Customs Act, 1962, for duty evasion.

The agency is examining the accused’s profile, including his occupation, antecedents and if he has accomplices or links to any wider smuggling network, the sources said.

Sources added that DRI’s arrest of the accused led to the unearthing of a “serious fraud” committed over several foreign trips/visits and has reinforced the enforcement agency’s ability to detect and combat unique, sophisticated methods of smuggling.