Company MD Arraigned
The Directorate of Revenue Intelligence (DRI) has arraigned the managing director of Panna Gold Impex Limited, one of the leading gold wholesale traders based in Mumbai, as the first accused in a case registered after two employees of the company were arrested with over 9 kg of refined gold and gold ornaments from Vytilla Mobility Hub in Kochi last week.
Om Prakash Khatri, 52, managing director of Panna Gold Impex Limited, living in Mumbai, has filed an anticipatory bail petition at the Ernakulam District and Principal Sessions Court.
According to DRI officials, two employees of the company, identified as Surender Singh and Dhiraj Devasi, were arrested at the mobility hub on February 4 for carrying gold consignments, which was to be supplied to major gold jewellers in Kerala and TN by evading tax.Surender Singh had a bag containing 5,150 gm of gold ornaments, while Dhiraj was carrying a baggage containing 4,002 gm of refined gold. Following their arrest, the DRI conducted raid at the office of Panna Gold Impex in Mumbai and seized more gold along with some documents.
The DRI maintained that the seized gold was unaccountable and was to be supplied to leading gold jewellers by evading sales tax.
Both the employees of the company were produced before the Additional CJM (Economic Offence) and remanded in judicial custody. In the anticipatory bail petition filed by Om Prakash Khatri before the Ernakulam District and Principal Sessions Court, he submitted that the gold seized by the employees was accountable and there were sufficient documents to prove it. He said the gold was being supplied as per demanded by the jewellers and no illegal activity had taken place. The court would consider the petition on Thursday.