LUDHIANA: In a major operation, Directorate of Revenue Intelligence (DRI) Ludhiana has arrested a prominent carpet businessman of Srinagar who is a big time exporter.
The businessman has been arrested on the charges of wrongly claiming incentives of about Rs 30 crores on exports of Rs 190 crore worth carpets by misdeclaring their quality to be of silk, whereas these probably were of some inferior material on which very less rate of government incentives is available. After being arrested the businessman has been remanded into judicial custody for fourteen days by a court. After his arrest more companies from the valley who have exported huge quantity of carpets and availed huge incentives too have come under DRI scanner.
Giving more information about the scam, a source privy to the case said, “Based upon directions of DRI’s Additional Director General , Nitin Saini raids were conducted in New Delhi and Srinagar and one Irfan Rashid Khan of Srinagar who is into the business of exports of carpets was arrested. The accused since 2018 through four firms had done exports of more than Rs 190 crores to Dubai and he had claimed incentives of more than Rs 30 crores on these exports. In the investigation conducted so far it has emerged that Khan was exporting the carpets of inferior quality by mis-declaring them to be silk carpets on which high rate of incentives and duty drawbacks are available. He was arrested on February 24 from Ludhiana and further investigation in this case is underway”
According to sources though the arrested accused is believed to be the main kingpin of this case but some of his associates too are under radar of agency and there could be more arrests in coming days in connection with this case.
The businessman has been arrested on the charges of wrongly claiming incentives of about Rs 30 crores on exports of Rs 190 crore worth carpets by misdeclaring their quality to be of silk, whereas these probably were of some inferior material on which very less rate of government incentives is available. After being arrested the businessman has been remanded into judicial custody for fourteen days by a court. After his arrest more companies from the valley who have exported huge quantity of carpets and availed huge incentives too have come under DRI scanner.
Giving more information about the scam, a source privy to the case said, “Based upon directions of DRI’s Additional Director General , Nitin Saini raids were conducted in New Delhi and Srinagar and one Irfan Rashid Khan of Srinagar who is into the business of exports of carpets was arrested. The accused since 2018 through four firms had done exports of more than Rs 190 crores to Dubai and he had claimed incentives of more than Rs 30 crores on these exports. In the investigation conducted so far it has emerged that Khan was exporting the carpets of inferior quality by mis-declaring them to be silk carpets on which high rate of incentives and duty drawbacks are available. He was arrested on February 24 from Ludhiana and further investigation in this case is underway”
According to sources though the arrested accused is believed to be the main kingpin of this case but some of his associates too are under radar of agency and there could be more arrests in coming days in connection with this case.