Indore: The Directorate of Revenue Intelligence (DRI) searched the premises of a drugs supplier of the city and seized Rs 87 lakh cash and detected evasion of custom duty of around Rs 1.5 crore. The drug supplier used to import proteins and food supplements for weight loss.
DRI sources said they have obtained vital leads that shows involvement international hawala operators.
The officials of the Indore Zonal Unit of the DRI searched two premises of Hitesh Nagwani, including one at Vasudev Nagar on Thursday. The action concluded late on Thursday evening.
DRI has booked a case based on intelligence about suspected mis-declaration and under valuation of consignment of nutritional supplement (Whey protein) imported by Nagwani at ICD Dhannad, Pithampur. It is learnt that he has a medical store and is also engaged in trade of medicines and pharmaceutical drugs in a big way. Nagwani is said to be a financer also.
According to official information, during the searches some incriminating documents, stamp, seal and papers of a foreign supplier were recovered. Apparently, Nagwani was generating import invoices of the foreign supplier from his own premises based in the city. During search of his second premises, Indian and foreign currency amounting Rs 87 lakhs cash was seized along with incriminating documents and electronics devices. The customs duty evasion including past consignment is estimated approximately Rs 1.5 crore. Initial investigation indicates that Nagwani is involved in domestic and international hawala transactions. DRI is carrying out further investigation in the matter.