Enforcement Directorate Cracks Down on Rs 190 Crore Custom Duty Evasion Case

The Enforcement Directorate conducted raids under the Prevention of Money Laundering Act, uncovering crucial evidence related to a Rs 190 crore custom duty evasion scheme. In a separate action, ED arrested Manoj Gaur of Jaypee Infratech Ltd in a separate money laundering investigation involving cheating home buyers.

In a significant development, the Enforcement Directorate (ED) launched a series of raids on November 12, targeting the residential and business premises of an industrialist allegedly involved in a Rs 190 crore custom duty evasion case. The searches, conducted under the Prevention of Money Laundering Act (PMLA), uncovered incriminating evidence pertaining to fraudulent imports and exports and digital devices linked to key individuals.

The ED's action stems from an FIR registered by the Central Bureau of Investigation (CBI) against Titan Sea and Air Services Pvt Ltd and others. Officials found that fake export documents, such as invoices and shipping bills, were used to wrongly represent goods as being exported to Nepal and Bangladesh, while they were actually sold domestically, thereby avoiding the custom duty.

In a related, yet separate, development earlier in the day, the Delhi zonal office of the ED arrested Manoj Gaur, former Chairman and Managing Director of Jaypee Infratech Ltd, for his alleged involvement in a money laundering case tied to cheating home buyers. Gaur's arrest follows extensive investigation and analysis of evidence during the ongoing probe linked to the Jaypee Group.

(With inputs from agencies.)