MUMBAI: A Mumbai court on Friday granted bail to Dubai-based businesswoman Rasheeda Gulamally, arrested by the Directorate of Revenue Intelligence (DRI) in a case of alleged customs duty evasion worth Rs 7.65 crore involving the undervaluation of Chile-origin inshell walnuts.Gulamally, a partner in Rasheeda Foodstuff Trading LLC, was arrested on September 1, for allegedly issuing fake invoices to importer M/s Gayatri Exports, facilitating large-scale undervaluation and misdeclaration of consignments. According to investigators, the scheme involved showing suppressed invoice values to evade customs duty, with Rasheeda Foodstuff Trading LLC acting as a Dubai-based intermediary in the racket.The DRI alleged that Gulamally abetted Gayatri Exports in evading customs duty by generating false invoices, causing a revenue loss to the exchequer. She was booked under Section 135 of the Customs Act, 1962 and was remanded to judicial custody.In her bail plea, Gulamally’s counsel Sujay Kantawala argued that she is an Overseas Citizen of India permanently residing in Dubai, with no prior criminal record, and is only a “namesake partner” holding 49% share in the firm. Her husband, the defense maintained, manages day-to-day business operations. The defense also stressed her cooperation with the investigation, including multiple appearances before DRI officials and willingness to furnish documents.The court noted that Gulamally had been in custody for 17 days and that the DRI had sufficient opportunity to interrogate her. Observing that the main accused from Gayatri Exports had already been granted bail, the court held that continued detention was unnecessary.Mumbai: A Mumbai court on Friday granted bail to Dubai-based businesswoman Rasheeda Gulamally, arrested by the Directorate of Revenue Intelligence (DRI) in a case of alleged customs duty evasion worth Rs 7.65 crore involving the undervaluation of Chile-origin inshell walnuts.Gulamally, a partner in Rasheeda Foodstuff Trading LLC, was arrested on September 1, for allegedly issuing fake invoices to importer M/s Gayatri Exports, facilitating large-scale undervaluation and misdeclaration of consignments. According to investigators, the scheme involved showing suppressed invoice values to evade customs duty, with Rasheeda Foodstuff Trading LLC acting as a Dubai-based intermediary in the racket.The DRI alleged that Gulamally abetted Gayatri Exports in evading customs duty by generating false invoices, causing a revenue loss to the exchequer. She was booked under Section 135 of the Customs Act, 1962 and was remanded to judicial custody.In her bail plea, Gulamally’s counsel Sujay Kantawala argued that she is an Overseas Citizen of India permanently residing in Dubai, with no prior criminal record, and is only a “namesake partner” holding 49% share in the firm. Her husband, the defense maintained, manages day-to-day business operations. The defense also stressed her cooperation with the investigation, including multiple appearances before DRI officials and willingness to furnish documents.The court noted that Gulamally had been in custody for 17 days and that the DRI had sufficient opportunity to interrogate her. Observing that the main accused from Gayatri Exports had already been granted bail, the court held that continued detention was unnecessary.
