The DRI carried out the action after its simultaneous raids carried out in the Group´s offices in Birgunj, Nepalgunj and Kailali on Tuesday revealed anomalies in its transactions. [break]
TM Dugar is one the leading food grain importers and exporters. And the inspection of stock and documents taken over by the DRI officials from those offices showed wide variation between imports data, exports it carried out and stock it held of pulses.
Given such finding, the Department suspects the group could be sourcing pulses from India through informal channel, evading 5 percent agriculture reform fee, and also illicitly transshipping such imported pulses to Bangladesh, further claiming 4 percent cash incentives on foreign currency earned through those exports.
“We raided its (TM Dugar´s) head office and took over its documents, computers and bank statements on Wednesday mainly with the view to could carry out a consolidated investigation of its case,” said Bharat Subedi, deputy director general of DRI.
He told Republica that the DRI has also summoned Moti Lal Dugar and other senior officials of the TM Dugar Group for Thursday to record their statements.
As the transactions of the Group run into tens of millions, officials believe revenue evaded by it would be substantial. However, the department is yet to start assessing the actual volume of revenue loss.
“We will get the loss figures once we go through its documents seized from multiple locations,” said Subedi, who added that the DRI had raided the Group´s offices based on informers´ messages that it was engaged in smuggling of rice and pulses.
Meanwhile, Motilal Dugar of TM Dugar Group has said the group would fully cooperate with the DRI. "This is a regular process. DRI officials visited our office today and took necessary documents for investigation," he added.
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