New Delhi [India], November 13 : The Enforcement Directorate conducted searches under the Prevention of Money Laundering Act, 2002, searching the residential and business premises of an industrialist in relation to a case related to alleged custom duty evasion of Rs 190 crore.
"The Enforcement Directorate has seized incriminating evidences in relation to the imports and exports and digital devices of key persons during searches conducted on November 12 at the residential premises and business premises of one of the key persons behind the evasion of custom duty of Rs 190 crores and his employees, in whose names the entities were incorporated outside India for effecting imports and exports in their names," an official said.
The searches were conducted on November 12 (Wednesday). According to an official statement, the searches were conducted under PMLA 2002 in the case of Titan Sea and Air Services Pvt Ltd and others on the basis of FIR registered by the Central Bureau of Investigation (CBI).
According to ED officials, the case pertains to people allegedly creating fake export documents including invoices and shipping bills to misrepresent goods as being exported to Nepal and Bangladesh, while actually selling them domestically and thereby evaded the custom duty.
Earlier today in a separate case, ED arrested Manoj Gaur, former Chairman and Managing Director of Jaypee Infratech Ltd (JIL), in a money laundering case of cheating with home buyers.
ED's Delhi zonal office arrested Manoj Gaur, the former Executive Chairman and Chief Executive Officer of Jaiprakash Associates Ltd (JAL), under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.
Manoj Gaur was arrested early on Thursday following a detailed investigation and analysis of evidence gathered during the ongoing probe in an Enforcement Case Information Report (ECIR) recorded by the ED under PMLA in connection with the Jaypee Group.