Ludhiana: Regional Unit of Directorate of Revenue Intelligence (DRILudhiana has busted a scam in which a company has been accused of misusing crores of rupees from the government. advance license scheme Of the government
As part of its methodology, the company imported duty free crystalline sugar in India on the pretext of exporting it after processing as glucose, but instead sold this duty free crystalline sugar within India. The allegation in the whole scam is that he imported and stole 5,200 tonnes of crystalline sugar. Custom duty Approx Rs. 16.17 crores.
After the scam came to light, DRI raided several premises of the company located AhmedgarhMalerkotla etc., and one of the owners of the company, who has now been sent to judicial remand.
According to sources in the department, “Under the direction of Additional Director General of DRI Nitin Saini, an investigation was marked in the matter of duty free import of crystalline sugar by Shakti API Foods Pvt Ltd, Malerkotla under the Advance Licensing Scheme of DGFT. Under the terms of the licence, the company was to manufacture and export liquid glucose from this sugar, but the total quantity of 5200 tonnes was approximately Rs. In places like Meerut, sales of 11.93 crores were done locally. In the entire scam, the importer has evaded customs duty of around Rs. 16.17 crore and misused advance license obtained from DGFT.
The source also said, “As a part of the investigation raids were conducted at factories and other premises of the company in Ahmedgarh and Malerkotla, but no trace of glucose was found, which was to be produced from imported crystalline sugar and the fact was That it was established that the Company had deliberately diverted imported sugar instead of fulfilling its obligation to produce and export Liquid Glucose. Consequently, Rajesh Goel, who is the export manager cum shareholder of the company, was arrested by the DRI team in Ludhiana on 3 March and sent to judicial custody on 5 March after producing him in court.
As part of its methodology, the company imported duty free crystalline sugar in India on the pretext of exporting it after processing as glucose, but instead sold this duty free crystalline sugar within India. The allegation in the whole scam is that he imported and stole 5,200 tonnes of crystalline sugar. Custom duty Approx Rs. 16.17 crores.
After the scam came to light, DRI raided several premises of the company located AhmedgarhMalerkotla etc., and one of the owners of the company, who has now been sent to judicial remand.
According to sources in the department, “Under the direction of Additional Director General of DRI Nitin Saini, an investigation was marked in the matter of duty free import of crystalline sugar by Shakti API Foods Pvt Ltd, Malerkotla under the Advance Licensing Scheme of DGFT. Under the terms of the licence, the company was to manufacture and export liquid glucose from this sugar, but the total quantity of 5200 tonnes was approximately Rs. In places like Meerut, sales of 11.93 crores were done locally. In the entire scam, the importer has evaded customs duty of around Rs. 16.17 crore and misused advance license obtained from DGFT.
The source also said, “As a part of the investigation raids were conducted at factories and other premises of the company in Ahmedgarh and Malerkotla, but no trace of glucose was found, which was to be produced from imported crystalline sugar and the fact was That it was established that the Company had deliberately diverted imported sugar instead of fulfilling its obligation to produce and export Liquid Glucose. Consequently, Rajesh Goel, who is the export manager cum shareholder of the company, was arrested by the DRI team in Ludhiana on 3 March and sent to judicial custody on 5 March after producing him in court.