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The Enforcement Directorate (ED) on Wednesday conducted searches under the Foreign Exchange Management Act (FEMA), 1999, at 17 locations across Kerala and Tamil Nadu in connection with the ongoing probe into alleged smuggling of high-end luxury vehicles and unauthorised foreign exchange dealings, officials said.
The searches are underway based on inputs exposing a syndicate engaged in illegal import and registration of luxury cars such as Land Cruiser, Defender, and Maserati through India-Bhutan and India-Nepal routes. The operation covered 17 premises, including residences and establishments of film stars like Prithviraj, Dulquer Salman, and Amith Chackalacal, certain vehicle owners, auto workshops, and traders in Ernakulam, Thrissur, Kozhikode, Malappuram, Kottayam, and Coimbatore. ED Kochi Zonal Office carried out these raids as the preliminary findings in the case reveal a Coimbatore-based network using forged documents (purporting to be from the Indian Army, US Embassy, and MEA) and fraudulent RTO registrations in Arunachal Pradesh, Himachal Pradesh, and other states, the officials privy to the development told ANI. "Vehicles were later sold to HNI (High Net Worth) individuals, including film personalities, at undervalued prices," said the officials. The ED action was initiated as prima facie violations of Sections 3, 4, and 8 of FEMA were detected -- involving unauthorised foreign exchange transactions and cross-border payments through hawala channels. Further investigation is underway to trace the money trail, beneficiary network, and foreign exchange movement. (ANI)
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