Mumbai: The Directorate of Revenue Intelligence (DRI) arrested a Hong-Kong based company’s director in an Rs 83 crore duty evasion fraud, accused of diverting duty free gold into the domestic market by fraudulently exporting imitation jewellery in the guise of gold jewellery and selling it for cash through traders. Rajpreet Kaur, owner of M/s Kreacions Pvt. Ltd. was arrested based on the lookout circular. In 2022, DRI officers examined an export consignment falsely declared as “22 karat mechanised plain gold jewellery” weighing 4,623 grams. On the same day, another export consignment was found to contain 845 grams of imitation jewellery mis-declared as 22 karat gold jewellery. Follow-up searches led to the recovery of 4.5 kg of gold bars without valid documents and Rs 1.4 crore in cash. DRI officials revealed diversion of nearly 1,560 kg of duty-free gold by the syndicate.
