Govt secures Rs 216-crore bank guarantee from India Inc

NEW DELHI: The government has cracked down on India Inc for alleged duty evasion in import of aircraft, and has secured bank guarantee worth Rs 216 crore from 12 leading business houses.

"We have received bank guarantee to the tune of Rs 216.37 crore and bond worth Rs 995.57 crore from various business houses whose aircraft we have seized, some of which have been provisionally released," a top officer of Customs Preventive, North Zone, who did not wish to be identified, said.

Giving an overview of the department's half-yearly performance, he said the total value of the 15 aircraft seized in the last three months amounted to Rs 1,138.31 crore.

The crackdown initiated by the department had caught many business houses unawares with aircraft of leading corporates promoted by top businessmen, including Mukesh Ambani, his brother Anil, TATA, GMR, and Oberoi groups, among others being seized.

Some of the aircraft were later provisionally released on the basis of bank guarantee of the duty demanded and bond of the value of the aircraft given by such companies.

The latest aircraft to be seized by the department was a Gulf Stream G-200 belonging to Punj Lloyd Aviation Ltd, for which a show-cause notice would be issued soon.

The official said over 200 aircraft imported under the Non Schedule Operator Permit (NSOP), which were given duty exemption, are being probed, "since many aircraft were being used for personal purpose".

Meanwhile, the department which has also initiated crackdown on import of luxury cars has seized seven cars including a 'Hummer' for duty evasion at the time of import by 'misrepresenting facts'.

"The total spot recovery of duty in the last six months amounts to Rs 48.14 crore and the total value of seizures made is Rs 1,381.62 crore," he said.

The department also recovered Fake Indian Currency Notes (FICN) totalling Rs 61 lakh during the same period in seven cases at the Munabao Land Customs Station in Rajasthan and one at the Attari Land Customs Station in Amritsar.

The department also recovered 45 kgs of heroin and 50 kgs of charas with Pakistani markings in its zone, the official said.