Mumbai News: DRI Busts Luxury Furniture Import Scam Worth ₹60 Crore; 2 Arrested

Mumbai: The Directorate of Revenue Intelligence (DRI) in Mumbai has arrested two individuals for their alleged involvement in a major import scam involving luxury furniture worth Rs 60 crore. The accused, Rizwan Iqbal Chunawala (49), proprietor of M/s Design Decode, and Sajid Hanif Jada (44), the ICE holder, were taken into custody under the Customs Act for undervaluing high-end imported furniture to evade substantial customs duties.

Acting on precise intelligence, DRI officials launched a detailed investigation into M/s Design Decode, a firm suspected of manipulating import documents to declare significantly lower values for luxury furniture items imported from overseas since September 2021, according to Times Of India report.

According to the investigation, the company declared imports worth Rs 24 crore through 392 bills of entry. However, the actual value of these consignments was estimated at Rs 60 crore. This misdeclaration resulted in the evasion of customs duty, Integrated Goods and Services Tax (IGST), and Social Welfare Surcharge (SWS) amounting to over Rs 20 crore, as per report.

Chunawala confessed that Design Decode was merely a front set up to import goods on behalf of another entity, Defurn Furniture Studio. He admitted to full knowledge of the scheme and acknowledged his role in executing it for personal profit.

Jada also admitted to overseeing the warehouses where the undervalued goods were stored before distribution. The DRI has reiterated its commitment to cracking down on customs fraud and protecting revenue. Further investigation is underway to identify other individuals involved in the racket.