Third arrest in Mumbai has been made by the prevention of smuggling and customs fraud unit of Directorate of Revenue Intelligence (DRI) on Thursday. The grounds of arresting a Chartered Accountant is for allegedly aiding and abetting a businessman in an export fraud of Rs 118 crore against the actual export of Rs. 18 Crore only.
Earlier also, In June, RMLC (Radha Madhav Corp Ltd) Joint managing director Abhishek Agarwal had been arrested for defrauding the exchequer by taking monetary benefits of imports under a government scheme, but failed to fulfill obligations and compliances of exports.
Afterwards, His consultant (Ramesh Chavan) was also arrested on the grounds of false excuse of getting an export obligation certificate (EODC).DRI had also seized Rs 6 crore from his house.
RMCL (Radha Madhav Corp Ltd) had obtained eight export promotion capital goods (EPCG) licences in 2006, which is engaged into business of network marketing, FMCG goods & other products.
It has imported goods having worth in crores against which it had to export goods worth Rs. 135 crore. RMCL obtained an EODC (export obligation certificate) without complying with the obligation & exported goods only worth Rs 17 crore, while Rs 118 crore was pending.
Abhishek submitted the EODC (export obligation certificate) and claimed that he had complied with the obligation. DRI further provided 10 days to procure records regarding the exports of Rs. 118 crore made by him but Agarwal failed to do so.
On Investigation, DRI (Directorate of Revenue Intelligence) found that Exports of only Rs. 18 Crore has been made, while Rs 118 crore was of “ghost exports (Bogus)”, having no records with Customs.
While inquiring, he said that he had engaged Chavan, who gave bogus documents. “Agarwal said Chavan claimed he can close the EODC by his ‘settings’ & manage an EODC with a third-party export” We will unearth the racket & find other in the syndicate,” an official said.