Hawala racket busts -Rs. 1 Crore foreign currencies seized

By | January 6, 2017
(Last Updated On: January 6, 2017)

Delhi Zonal Unit of the Directorate of Revenue Intelligence (DRI) busts Hawala racket, seizes foreign currencies worth Rs.One Crore at IGI Airport.

The Delhi Zonal Unit (DZU) of the Directorate of Revenue Intelligence (DRI),Ministry of Finance  has busted at Hawala racket adopting an ingenious modus operandi of foreign currency smuggling at the IGI airport, New Delhi yesterday and seized foreign currencies worth about Rs. 1 crore.

Officers of the Delhi Zonal Unit of DRI had mounted surveillance and intercepted a domestic as well as a Dubai-bound international passenger at Terminal 3 of IGI, Airport, New Delhi while they were exchanging their bags in the toilet in the security hold area of IGI Airport. DRI officials have seized Saudi Riyal, UAE Dirham and US Dollars of various denominations equivalent to Rs. 1,00,88,237 from these two passengers.

The domestic passenger had booked a ticket in Air India’s Bhubaneswar-bound International Flight AI 075 that was running on “Hub and Spoke” model. He was travelling only for the purpose of handing-over the foreign currencies to the international passenger going to Dubai by Jet Airways flight, after clearing Customs, Immigration and security checks as a domestic passenger to escape stringent checking of international passengers by Customs. Normally, smugglers carry foreign currencies to Dubai and bring gold, demand for which had peaked post demonetization.

 

Further investigations are in progress.

Category: News

About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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