The exposure came while following a scam by a Ludhiana-based exporter who has allegedly fraudulently used inflated bills to misuse a duty drawback scheme run by the Union Finance Ministry and gained incentives worth Rs 60 crore.
Acting on intelligence inputs, the Delhi zonal unit of DRI found that the businessman was allegedly fraudulently using "fake inflated bills" to get incentives of the drawback scheme while exporting "sub-standard" readymade garments, sources said.
They said the exporter, who runs several export firms in Ludhiana, was sending garments to the United States (US) and Middle East countries by allegedly inflating the cost of the exported garments.
Further investigation in the case showed the businessman was provided these bills by a Ludhiana-based person Mukesh Singh Singhania, an alleged hawala operator.
"Initial investigation shows that Singhania has allegedly laundered over Rs 1,000 crore through different channels. He was also helping the exporter in routing his illegal money from foreign countries to India through inflated bills," the sources claimed.
Searches were conducted at over 10 places in Delhi and Punjab and many documents were seized, said DRI sources. (MORE)
