Coimbatore (Tamil Nadu) [India], October 8 (HBTV): 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 an ongoing probe into alleged smuggling of high-end luxury vehicles and unauthorised foreign exchange dealings, officials said.
The searches were launched based on inputs indicating the existence of a syndicate involved in the 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 the residences and establishments of film actors Prithviraj, Dulquer Salmaan, and Amith Chackalakal, as well as certain vehicle owners, auto workshops, and traders in Ernakulam, Thrissur, Kozhikode, Malappuram, Kottayam, and Coimbatore.
The ED’s Kochi Zonal Office carried out the raids after preliminary findings revealed a Coimbatore-based network using forged documents—purportedly issued by the Indian Army, the US Embassy, and the Ministry of External Affairs—and fraudulent RTO registrations in Arunachal Pradesh, Himachal Pradesh, and other states, officials familiar with the matter said.
‘Vehicles were later sold to HNI (High Net Worth) individuals, including film personalities, at undervalued prices,’ the officials stated.
The ED’s action was initiated after 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, identify the beneficiary network, and track the movement of foreign exchange.
(ANI)