City court rejects the bail plea of a Delhi-based businessman

New Delhi, Jun 2 (UNI) A city court on Wednesday rejected the bail plea of a Delhi based businessman, who was arrested by the Department of Revenue Intelligence (DRI) on charges of allegedly evading a huge amount of customs duty.

Patiala House Court Additional Chief Metropolitan Magistrate (ACMM) Kamini Lau, rejected the bail plea of Harmesh Arora.

Arora was the Managing Director of B M Exports, Global Exim International and H M International. Arora was arrested by the DRI last Thursday.

The DRI alleged that, the firms were reported to have fraudulently availed benefits of customs and excise duty to the tune of Rs 7 crores under the provisions of customs Act 1962. The investigations so far have revealed that the Russian consignees to whom Arora's firm had allegedly made exports between 2001 and 2003 had not traded with any Indian company at all for the last five years as per the report of Russian customs, according to the prosecution.

''The investigations so far are still at an initial stage and the valuation realted details of the export goods are required to be investigated. Under these circumstances, no ground for bail is madeout,'' Ms Lau said in her order.

Arora was arrested under sections 108 and 113 of the customs Act.

UNI XC SHR KN1814