HC denies bail to businessman who forged documents for Rs 34 cr export sops

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A South Mumbai-based businessman's anticipatory bail application was rejected by the Bombay High Court on Wednesday. He sought anticipatory bail in a case where he allegedly attempted to fraudulenty claim Rs 34 crore as export incentives after submitting forged documents.

According to The Times of India, an affidavit by the Directorate of Revenue Intelligence (DRI) has stated that the accused Hiten Haria, director of Ashapur Texfab, Ashapura Clothing, Ashapura Exports and Ashapura International had submitted foreign currency shown as remittances from buyers of the goods exported to be deposited in its current accounts.

The affidavit further stated that the DRI suspects Haria has embezzled at least Rs 60 crore by forging currency declaration forms (CDF). CDFs are required for passengers coming into the country, which they need to deposit with customs in case they are carrying currency notes and travellers cheques exceeding a certain limit.

The DRI suspects that authenticity of the CDFs since they differ from those of the same numbers issued by customs. The DRI has also stated in its affidavit that Haria submitted supported invoices with details of goods exported, covering letters from buyers and letters from foreign nationals supposedly representing them.

Raids have been carried out at Haria's offices and residence but the DRI has been unable to trace him or his family.

Five have been arrested in three similar cases involving Rs 300 crore by the DRI. They have all been remanded to judicial custody. DRI officials say foreign exchange violations, forgery and money laundering is being suspected in the scam.

Haria has challenged the DRI's action in this matter saying that no FIR was registered nor was required permission sought from magistrate.

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