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Raid on Two Fabric exporters

Written By Views maker on June 25, 2011 | 6/25/2011

Directorate of Revenue Intelligence (DRI) raided two more fabric exporters in city's Sachin GIDC in connection with the ongoing investigation by DRI Chennai against the local fabric exporters taking undue advantage under the Duty Entitlement Pass Book (DEPB) scheme.

Revenue intelligence departments of Surat and Chennai had carried out joint operation against 10 textile fabric exporters for cheating the exchequer of the central government worth several crores of rupees on June 21.

The Chennai DRI had received information regarding few textile exporters in Surat taking undue advantage of the DEPB scheme by exporting low quality printed polyester fabrics and showing three times high prices of the material from its original value.

Official sources said the DRI Surat was given information regarding the two Sachin GIDC based fabric exporters taking large-scale benefits under the DEPB scheme by showing overvaluation of the exported fabrics on the 'free on board' (FOB) value.

"We have seized several incriminating documents during the raid on the two export firms in Sachin GIDC. The seized documents will be submitted to the Chennai DRI for further investigation," said a senior DRI officer.