Kolkata : Directorate of Revenue Intelligence (DRI) has arrested promoter of Shree Ganesh Jewellery House Ltd Nilesh Parekh for fraud in diversion of over 1,700 kg of primary gold.
“We have arrested Kolkata-based Shree Ganesh Jewellery House’s promoter and was produced before court today. He has been remanded to judicial custody and will be produced again on June 22,” a DRI spokesperson said.
The DRI also listed other violations like non-realisation of remittance on account of export of gems and jewellery to the tune of Rs 7,500 crore, and defrauding of a consortium of banks led by SBI, by way of non-payment of loans to the tune of Rs 2,672 crore.
Parekh was last year arrested by the Central Bureau of Investigation (CBI) in connection with defrauding a consortium of banks.
The Enforcement Directorate (ED) is also investigating the gold diversion case under the Foreign Exchange Management Act, 1999 and Prevention of Money Laundering Act 2002.
DRI is Intelligence Agency of Customs & Indirect Taxes Department (CBIC), which looks in Customs Duty Evasion, Anti Smuggling Operations & Anti Narcotics Operations.
Source : Moneycontrol