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Home / News / Mumbai News / Mumbai: Customs agent, two bizmen held for Rs. 10cr fraud
Mumbai

Mumbai: Customs agent, two bizmen held for Rs. 10cr fraud

Mumbai: Customs agent, two bizmen held for Rs. 10cr fraud
Written by Pallabi C Samal
Apr 24, 2018, 04:50 pm 2 min read
Mumbai: Customs agent, two bizmen held for Rs. 10cr fraud

A customs agent and two businessmen were arrested recently by the Directorate of Revenue Intelligence (DRI) for siphoning off almost Rs. 10cr by fraudulently releasing 'duty drawbacks' of 20 companies, which were frozen by customs pending investigation. Their fourth partner, also a customs agent at Jawaharlal Nehru Port Trust who is actually the top dog, is still at large.

Information
What is duty drawback? When and why was it introduced?

To encourage manufacturers to export products, India introduced 'duty drawback' through sections 74 and 75 of the Customs Act, 1962. Under this, companies can ask for a refund if they have paid duty for the inputs (raw materials) used for the products exported.

Details
Kingpin pulled out dormant company details, rest completed the scam

DRI netted customs agent Mohammed Shaikh alias Arife, businessmen Sadruddin Lassanwala and Ramesh Singh, and are looking out for Arjun Goregaonkar. While Goregaonkar pulled out details of dormant companies, Arife forged documents and opened bank accounts where money was to be transferred. The businessmen were responsible for making a claim form with exporters' names, import-export code numbers and shipping bills attached.

Confessions
Goregaonkar took 35%, dividing the rest equally among the three

After that, Goregaonkar would hack the customs' EDI system and give clean-chit to those companies, after which the duty drawbacks got credited to the bank accounts. Goregaonkar took the lion's share of 35%, dividing the rest equally among the three, who have confessed to have earned Rs. 25-30L each. DRI officials are probing to check if a customs officer was involved as well.

Quote
'My clients made scapegoat by department, real culprits absconding'

"My clients have helped people to claim duty-drawback, which was pending with the department for a long period. They had no knowledge about any irregularities. The real culprits are absconding and department has made a scapegoat of my clients," said Ravi Hirani, representing the accused.

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Pallabi C Samal
Pallabi C Samal
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Pallabi C Samal is an entertainment editor at NewsBytes. She has over seven years of experience in journalism and content development. She has previously worked with The Pioneer, The Quint, and Mid-Day on the national desk. She holds a Bachelor’s degree in Biotechnology from Bangalore University and a postgraduate diploma in journalism and mass communication from the Times School of Journalism.
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