22 July,2023 08:00 PM IST | Mumbai | Faizan Khan
Photo/DRI
In a significant breakthrough against smuggling activities, the Directorate of Revenue Intelligence (DRI), Mumbai zonal unit, intercepted an individual at Kolkata Airport who was found to be in possession of a valuable smuggled watch.
Acting on intelligence inputs, the DRI apprehended the suspect upon his return from Singapore and seized a valuable Greubel Forsey brand watch that he had failed to declare before Customs Authorities. The suspect was arrested under the Customs Act, 1962.
The intelligence indicated that the individual had amassed more than 30 high-end premium watches of foreign origin at his residence. Furthermore, it was suspected that he had plans to return from abroad with additional high-end watches, intending to smuggle them into the country without paying the appropriate customs duties.
Following the arrest, the DRI Mumbai zonal unit conducted a thorough search at the suspect's upscale residential complex. The operation yielded remarkable results, as 34 high-end watches from renowned brands such as Greubel Forsey, Purnell, Louis Vuitton, MB&F, Mad, Rolex, Audemars Piguet, Richard Mille, and more were recovered. Among these timepieces were several Limited-Edition watches of exceptionally high value. The cumulative market value of all the confiscated watches is estimated to exceed Rs 30 Crores.
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It was revealed that the individual had been evading Customs duties of 38.5% on imported watches through the baggage route, as per the Baggage Rules. The investigation has brought to light a serious fraud that was carried out over multiple foreign trips, underscoring the DRI's unwavering commitment to identifying and combating intricate and sophisticated methods of smuggling.
Further investigations into the case are underway.