Shalaka Kachare, Pune
A Kolkata Zonal Unit of the Directorate of Revenue Intelligence (DRI) team has seized 36 high-priced watches of various foreign brands from a Mumbai-based business person. According to information from DRI sources on Saturday, the value of the confiscated watches is more than Rs 30 crore.
The man was stopped at the Kolkata airport last week after arriving from Singapore thanks to a tip-off, and a highly expensive Greubel Forsey watch that he had not declared to customs authorities was taken into custody, according to a DRI release.
The DRI officers, Mumbai Zonal Unit, claimed they searched the man’s home in an affluent residential complex in Kolkata while detaining him under the Customs Act.
Premium brands like Greubel Forsey, Pernell, Louis Vuitton, Rolex, MB&F, Mad, Audemars Piguet, and Richard Mille, among others, reported the seized watches.
The investigation has revealed that the accused businessman is very fond of watches and used to smuggle them from abroad and bring them illegally. DRI is probing the entire matter.
According to the Baggage Rules, the import of watches by individuals through baggage is subject to 38.5% customs charges, which the accused allegedly avoided. Under Section 104 of the Customs Act of 1962, authorities detained him for duty evasion.
As the investigation is ongoing, sources declined to provide the accused’s name or other personal information. According to the sources, the CIA is looking into the accused’s background, including his job, family history, and any associates or connections to a more extensive smuggling network. DRI’s detention of the suspect enabled investigators to uncover a “serious fraud” perpetrated over several journeys and visits abroad, and it has improved the enforcement agency’s capacity to identify and stop cutting-edge smuggling techniques.