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Last Updated : Jul 13, 2019 04:20 PM IST | Source: Moneycontrol.com

DRI arrests Future Enterprises' CFO for allegedly evading customs duty worth Rs 14.58 crore

Dinesh Maheshwari allegedly misused duty-free imports facility from Bangladesh under the South Asian Free Trade Area (SAFTA)

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Representative Image

The Directorate of Revenue Intelligence (DRI) has arrested the chief financial officer of Future Enterprises, Dinesh Maheshwari, for allegedly evading customs duty worth Rs 14.58 crore.

Maheshwari is accused of misusing duty-free imports facility from Bangladesh under the South Asian Free Trade Area (SAFTA).

The company was importing readymade garments from Bangladesh through Petrapole Land Customs Station (LCS) without payment of basic customs duty, availing of the South Asian Free Trade Area (SAFTA) benefit, the agency said in a statement on July 13.

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"... He (Maheshwari) appears to be the main person responsible for the evasion of duty to the tune of Rs 14.58 crore by Future Enterprises Ltd. He appears to be guilty of an offence punishable under Section 135 of the Customs Act and has, therefore, been arrested under Section 104 of the Customs Act, on July 12," it said.

Investigations further revealed that the garments were supplied by third country suppliers based in Dubai and Singapore, but were delivered from Bangladesh after minimal processing, the DRI statement added.

(With inputs from PTI)

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First Published on Jul 13, 2019 03:47 pm
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