Having registered as exporters, the jewellers procured thousands of kilogrammes of imported duty-free gold bars from RBI nominated agencies, such as banks and government bodies, under the agreement that they would be used for manufacturing gold jewellery for export.
However, only 10% of the gold was used to manufacture jewellery and the rest was diverted into the open market by allegedly selling it in black.
Chennai Air Cargo Complex principal customs commissioner M Mathew Jolly, in his two detailed investigation reports in January 2023 and September 2024, alleged that the manufactured gold jewellery was misdeclared as 22 carat and exported with the collusion of a group of customs officers, who had accepted huge bribes for clearance.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
NEET academy head hits boys with stick, girls with footwear
THE owner-cum-trainer of a NEET training academy was booked for beating students with a stick and throwing footwear at female students, on Friday. CCTV footage of the incident went viral on social media.
Guv, CM cross swords over missing line in Tamil anthem
CM decries skipping of line with word \"Dravida\" in Tamil Thaai Vaazthu, asks Ravi if he advocates Aryan ideology; guv calls comment racist
Edappadi condemns govt for sudden transfer of DSP
AIADMK general secretary Edappadi K Palaniswami has strongly criticised the DMK government and CM MK Stalin for allegedly interfering in the autonomous functioning of the State Human Rights Commission. In a statement on X platform, Palaniswami condemned the sudden transfer of a DSP who had been investigating sensitive cases under the commission's directive.
Sunshine idea: In a first in TN, solar panels cover Kovai lake
NEARLY two years after announcing the project, the Coimbatore City Municipal Corporation (CCMC) has started installing solar panels in Ukkadam Periyakulam lake.
‘By language rowdies understand, I meant Telugu’
BY saying that police would talk to rowdies in a \"language they would understand,\" Greater Chennai Police Commissioner A Arun meant to communicate that many rowdies spoke Telugu and hence would be spoken to in that language.
Son wrongfully held, tortured by police, man tells SHRC
STATING that the Thalamuthu Nagar police brutally beat his son in custody, accusing him of having ties with a criminal gang, a 62-year-old man from Thoothukudi appeared before State Human Rights Commission member V Kannadasan in Tirunelveli on Friday.
Dredging floats deployed at Otteri, Virugambakkam after public outcry
FOLLOWING concerns raised by residents over inadequate desilting at the Virugambakkam and Otteri canals, Greater Chennai Corporation Commissioner J Kumaragurubaran announced on his X account that dredging floats have been deployed and desilting work will commence shortly.
Vacate Loop Road today or face the music, GCC tells fish vendors at Marina
THE Greater Chennai Corporation (GCC) announced on Friday that all fish vendors along Loop Road near Marina Beach must relocate to the newly constructed modern fish market from Saturday (October 19) or face action.
Notice to guide after scholar's plaint to Guv
AFTER a PhD scholar A Prakash from the Department of English and Foreign Language of Bharathiar University submitted a petition to Governor RN Ravi during the convocation alleging several guides demanded bribes and forced students to do chores in their homes, the university on Thursday sought an explanation from his guide, assistant professor M Kasirajan.
No contempt action against Bharathi for remark against judge
THE Madras High Court has refused to initiate criminal contempt of court action against DMK organisation secretary and former MP RS Bharathi for his comments against Justice N Anand Venkatesh over the judge taking suo motu revision of trial court orders acquitting or discharging ministers in disproportionate assets cases.
