The Directorate of Revenue Intelligence (DRI), Mumbai unit, has unearthed a massive import scam amounting to ₹60 crore and arrested two individuals in connection with the case. The accused have been identified as Rizwan Iqbal Chunawala (49), proprietor of M/s Design Decode, and Sajid Hanif Jara (44), an Import-Export Code (IEC) holder.
According to the DRI, the accused were involved in under-invoicing high-end imported furniture to evade customs duty and other applicable taxes. Chunawala allegedly operated the front company, M/s Design Decode, while Jara oversaw warehouse operations.
Based on specific intelligence inputs, DRI initiated an investigation into M/s Design Decode, which was suspected of undervaluing the prices of luxury furniture imported from abroad since September 2021. The probe revealed that the company had filed 392 Bills of Entry, declaring imports worth ₹24 crore. However, the actual market value of the goods was estimated to be around ₹60 crore.
This deliberate underreporting led to the evasion of over ₹20 crore in customs duty, Integrated Goods and Services Tax (IGST), and Social Welfare Surcharge. Investigators further found that M/s Design Decode was a dummy firm being used to import furniture for another business, Defern Furniture Studio.
Sajid Jara was reportedly responsible for monitoring the warehouses where the under-invoiced goods were stored before distribution. The DRI is currently pursuing leads to identify other individuals and entities involved in the racket.
Further investigation is underway.