Directorate of Revenue Intelligence, which is investigating the case, had approached the Additional Chief Judicial Magistrate court, which issued the arrest warrant against Mehta, who is absconding. Despite summons, Mehta had not appeared before the DRI.
The case against the listed gold exporting and retail company in Bangalore, which has a unit at the Cochin Export Processing Zone in nearby Kakkanad, is that it had allegedly diverted the imported gold as jewellery to the domestic market.
About one kg of gold ingots was seized by DRI from Hareesh Babu, a company official, last week from Kerala while he was transporting the consignment to the company outlet at Bangalore. His arrest led to the arrest of Biju Varghese, who is heading the company in Kerala.