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Sunday, Aug 18, 2019

Multi-crore import remittance scam: Proclamation order issued against kingpin

mumbai Updated: Oct 25, 2017 11:39 IST
Pratik Salunke
Pratik Salunke
Hindustan Times
(Picture for representation)

A special court has issued a proclamation order - issued when a person fails to appear before court - against Vijay Kothari, the prime accused in the fake import remittances case.

On Monday, the Enforcement Directorate (ED) arrested Sanjay Jain, former director of Raghukul Diamonds Pvt Ltd.

“Investigations have revealed that Kothari is the kingpin. He is involved in hawala business and used the import of diamonds, mainly from Dubai and Hong Kong, as a front,” the agency told court.

A court can order the attachment of any property — movable and immovable — under proclamation.

Read: Multi-crore import remittance scam: ED arrests third accused from Mumbai

The ED has also sent a formal request to Hong Kong (letters rogatory) for details pertaining to financial transactions in the case.

Investigations have revealed that Rs518 crore was sent as remittance to various Hong Kong-based bogus companies for pre- and post-import payments through submission of forged bills of entry and invoices to the bank.

So far, three people have been arrested in the case — Saurabh Pandit, director of a Hong Kong-based company; Anil Chokhra, former director of Kanika Gems; and Jain. “The accused conspired and remitted Indian currency through the Opera House and Fort branches of IndusInd bank,” the agency has alleged.

First Published: Oct 25, 2017 11:39 IST

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