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Time of India
5 days ago
- Business
- Time of India
Three businessmen arrested for evading 30 crore duty on high-end Italian furniture imports
Mumbai: The Directorate of Revenue Intelligence (DRI) arrested three businessmen for Rs 30 crore duty evasion in the imports of high-end Italian luxury furniture. The three accused were identified as Falgun Yogendra Shroff, owner of Di Lusso Furniture LLP, Sambhaji Bhosale, proprietor of Sam Furniture & Electronics, and Manoj Rai, proprietor of Divine Enterprises. The trio were accused of importing high-end furniture from brands like Poltrona Frau, Ditre Italia, Fendi, Minotti, Giorgetti, and others using shell companies and dummy Importer Exporter Codes (IECs). These companies, falsely declared the goods' value as one-tenth of their actual market price, DRI said. To mask the true value and brands, fake invoices and fabricated Gmail IDs were used to issue under-invoiced proforma invoices from shell companies in Dubai and Hong Kong. Bhosale used his Import Export Code (IEC) to bring in branded furniture under the guise of unbranded or low-value items. The goods were then transported directly to Di Lusso's warehouse in Bhiwandi, bypassing the supposed intermediary, Divine Enterprises. Rai's firm existed only on paper and was used to create a fictitious supply chain, masking the direct link between the importer and the actual beneficiary. The invoices used for customs clearance were reportedly fabricated abroad by an associate firm, Kler Impex Pte Ltd, based in Singapore. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Sujay Kantawala appearing for the accused in the court denied the charges.
India Gazette
15-06-2025
- Business
- India Gazette
'Source from India' feature on Trade Connect ePlatform made available for all status holder exporters
New Delhi [India], June 15 (ANI): The Directorate General of Foreign Trade (DGFT) has made available 'Source from India' micropage hosting service on the 'Trade Connect ePlatform' to all status holder exporters. Trade Connect ePlatform ( was launched earlier to serve as a comprehensive hub of information and services on international trade with all related stakeholders, including Indian Missions Abroad, Export Promotion Councils, EXIM Bank, Department of Commerce, and DGFT. 'Source from India' is a flagship feature on the Trade Connect ePlatform, which was introduced to be a one-stop reference point for international buyers to discover accomplished Indian exporters from whom to source. The feature allows exporters to create their own macrophages, where they can provide their product details and their entity's credentials. 'Micropages of the exporters are publicly made visible on 'Source from India' page of Trade Connect ePlatform ( once approved,' according to DGFT. To start with, Three-, Four- and Five-star Manufacturer exporters had been previously invited to create their 'Source from India' micropages on a pilot basis. 'It is now informed that the Source from India micropage hosting service on Trade Connect ePlatform will be available to all Status Holder exporters (with valid Import Export Code not in (Denied Entity List)). Further broad basing of availability of the service to other IEC holders will be done going forward and changes will be notified once implemented,' DGFT said this week in a notification. As per the DGFT definition, Status Holders are business leaders who have excelled in international trade and have successfully contributed to the country's foreign trade. DGFT said Indian missions abroad have also been duly sensitised to use 'Source from India' as a reference point for addressing the sourcing needs of foreign buyers who approach the missions with requests to help find Indian suppliers for various products. Export Promotion Councils and Industry associations are also requested to inform their members about the same and encourage participation of all eligible members. (ANI)
