Three Bengaluru Firms Linked to Ranya Rao Face DRI, ED Probe in Gold Smuggling Case

The Directorate of Revenue Intelligence (DRI) and the Enforcement Directorate (ED) have launched a probe into three companies allegedly linked to gold smuggling suspect Ranya Rao. Reports indicate that these firms are under scrutiny for potential financial irregularities, money laundering, and shell company operations.

Companies Under Investigation

The three firms being investigated are:

• Ranya Rao Photography Pvt Ltd (incorporated on July 28, 2020)
• Ayrus Greens Pvt Ltd (incorporated on May 12, 2021)
• Ksiroda India Pvt Ltd (incorporated on April 21, 2022, formerly registered as Bioenzo India Private Limited)

Notably, Ranya Rao, also known as Harshavardini Ranya, is listed as a director in all three companies.

Family Ties and Business Links

Company records reveal that Ranya Rao's mother, Puttaswamy Hallihithlu Rohini, was a co-director in Ayrus Greens Pvt Ltd and Ranya Rao Photography Pvt Ltd, while her brother, Kabbinahalli Rushab, was a co-director in Ksiroda India Pvt Ltd. Interestingly, all three firms were registered at the same address in 7th Cross, Victoria Layout, Bengaluru.

Despite being classified as private non-government companies with an authorized capital of ₹10 lakh each, these businesses are now under the scanner for possible financial misconduct.

Ayrus Greens Pvt Ltd was registered under the National Industrial Classification (NIC) for agriculture, including the cultivation of cereals and other crops.

Ranya Rao Photography Pvt Ltd was supposedly established as a photography business, aligning with Rao's claim of being a wildlife photographer.

Ksiroda India Pvt Ltd recently made headlines for a land allocation controversy in the Sira Industrial Area, Tumakuru. The Karnataka Industrial Areas Development Board (KIADB) had sanctioned 12 acres of land for the company's proposed steel manufacturing operations on February 22, 2023, but later revoked the allocation due to non-payment issues.

Financial Irregularities Under Scrutiny

Investigators suspect these firms could be shell companies used to park illicit funds and obscure the money trail. Sources indicate that company reports, balance sheets, and bank transactions are being closely examined for discrepancies.

"There is a strong possibility that more such firms were registered post-2020 to facilitate financial fraud," a source close to the investigation revealed.

Ranya Rao's Arrest and Smuggling Allegations

The crackdown on these firms intensified after 33-year-old Ranya Rao was arrested by DRI officials at Kempegowda International Airport, Bengaluru, on March 3. She was caught arriving from Dubai with 14.2 kg of foreign-origin gold bars worth ₹12.56 crore.

Authorities are now trying to establish a direct link between Rao's smuggling operations and the financial dealings of her companies. The ED and DRI are expected to issue further notices as part of their ongoing investigation into suspected money laundering activities connected to these firms.