DRI seizes foreign currency worth about Rs 1.5 cr at RGIA

DRI seizes foreign currency worth about Rs 1.5 cr at RGIA

Agency News

Hyderabad, Aug 20 : The Officers of Directorate of Revenue Intelligence (DRI) have arrested two passengers and seized foreign currency worth about Rs 1.5 crore from their possession at Rajiv Gandhi International Airport (RGIA), Shamshabad.

Based on specific intelligence, officers of DRI, Hyderabad Zonal Unit, intercepted two passengers, at RGIA, Shamshabad, who were bound for Dubai by Indigo flight 6E 26, scheduled to depart at 1450 hours and Air India flight AI 951, scheduled to depart at 2010 hours on Monday, a statement from DRI said here on Tuesday.

According to the DRI, on examination of their checked-in luggage, it was revealed that foreign currency was deftly concealed in false bottoms created in sweet boxes, biscuit boxes (Osmania), and also in the bags. Each passenger was attempting to smuggle 3,50,000 Saudi Arabian Riyals, equivalent to Rs 74,37,500.

The passengers on interrogation stated that the said currency was obtained from unauthorized dealers and are well aware of the fact that it is illegal to smuggle Foreign Currency out of the country. As the said Foreign Currency was obtained from unauthorized dealers/persons in violation of FEMA, 1999 and regulations made there under and was attempted to be exported illegally, in contravention of the prohibition imposed under Customs Act 1962 read with FEMA, 1999, the said Foreign Currency, equivalent to Rs. 1,48,75,000 in Indian Rupees, was seized.

Further investigation in the case is in progress, the statement added.(UNI)