The Directorate of Revenue Intelligence (DRI) said jeweller Sahil Sakariya Jain played a key role in assisting Kannada actress Harshavardhini Ranya, also known as Ranya Rao, in disposing of 49.6 kg of smuggled gold worth Rs 40.14 crore.
According to the DRI’s remand note, Jain not only helped facilitate the illegal transaction but also abetted Ranya in hawala money transfers linked to the smuggling operation.
Jain, a jeweller by profession, was arrested on March 26 for assisting Ranya in the gold smuggling case.
He has been remanded to judicial custody until April 7.
Jain not only helped Ranya in allegedly disposing of the gold but also appeared to have facilitated Hawala money transactions.
"It appears that he (Sahil Jain) assisted and abetted Accused No. 1 (Ranya) in disposing of approximately 49.6 kg of gold worth Rs 40,13,59,374. He has also admitted to aiding A1 in transferring Hawala money amounting to around Rs 38,39,97,000 to Dubai and Rs 1,73,61,787 to A1 in Bengaluru," the DRI stated.
The agency further noted that the unaccounted cash of Rs 2.67 crore seized from Ranya’s residence on March 4, as per the ‘Mahazar’ (seizure document), was likely Hawala money she received as profit from purchasing gold in Dubai and selling it in Bengaluru.
The DRI added that Jain admitted to receiving a commission of Rs 55,000 for each transaction.
"The voluminous evidence extracted from two mobile phones and a laptop belonging to Sahil Sakariya Jain further establishes his role in the smuggling of large quantities of gold into India by A1 (Ranya)," the DRI stated.
According to the agency, in January 2025, Jain helped Ranya dispose of 14.568 kg of gold worth Rs 11.56 crore and facilitated the transfer of Rs 11.01 crore in Hawala transactions to Dubai.
Additionally, he admitted to transferring Rs 55 lakh in Bengaluru.
In February, Jain allegedly assisted Ranya in disposing of 13.433 kg of gold worth Rs 11.81 crore.
During the same month, he helped transfer Rs 11.25 crore in Hawala funds to Dubai and Rs 55.81 lakh to Ranya in Bengaluru.
Ranya, the stepdaughter of a DGP-rank officer in Karnataka, was arrested on March 3, shortly after returning from Dubai at Kempegowda International Airport.
The DRI officials seized 14.7 kg of gold from her possession.
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