Karnataka Gold Smuggling Case: Ranya Rao Charged Under COFEPOSA Act
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Synopsis
In a significant development in the Karnataka gold smuggling case, Kannada actress Ranya Rao has been charged under the COFEPOSA Act. The authorities have taken this action to prevent her from acquiring bail for one year, amid ongoing investigations into her alleged involvement in smuggling activities.
Key Takeaways
- Ranya Rao charged under COFEPOSA Act.
- Denial of bail for one year.
- Involvement in hawala transactions.
- Collaboration with other accused in gold smuggling.
- Authorities investigating connections with law enforcement.
Bengaluru, April 25 (NationPress) The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), has been enforced against the detained Kannada actress Ranya Rao in relation to a gold smuggling investigation, sources reported on Friday.
The Central Economic Intelligence Bureau (CEIB), a primary agency under the Ministry of Finance, has applied the COFEPOSA Act against the actress and other suspects based on the recommendations from the Directorate of Revenue Intelligence (DRI), which is currently examining the matter.
With the implementation of the COFEPOSA Act, the accused Ranya Rao will be denied bail for a duration of one year.
This measure is taken to prevent the accused from engaging in smuggling activities upon release on bail. The Act is also enforced if the accused is perceived as uncooperative with the investigative bodies, according to sources.
Sources disclosed that the central agencies initiated this action following numerous attempts by Ranya Rao and the other accused to secure bail. Additionally, the other suspects Tarun Raju and Sahil Sakaria Jain have also been charged under the COFEPOSA Act.
Ranya Rao, who is the stepdaughter of senior police official Ramchandra Rao, was apprehended on March 3 for allegedly smuggling 14.2 kilograms of gold, estimated to be worth over Rs 12.56 crore.
Ranya Rao and the two other accused are currently held at the Bengaluru Central Prison.
The case is under investigation by the DRI, the Enforcement Directorate (ED), and the Central Bureau of Investigation (CBI).
The state government has formed a special task force led by a senior IAS officer to investigate the involvement of DGP Ramachandra Rao. A report regarding this matter has been submitted to the government, sources indicated.
The inquiry into the gold smuggling case by the DRI has uncovered that the actress was engaged in hawala transactions in collaboration with Jain, the third accused.
The DRI, in its remand application to the Special Court for Economic Offences concerning the arrest of Jain in the gold smuggling case, alleged that the jeweller and Ranya Rao were involved in a hawala nexus.
Investigations revealed that with Jain's assistance, Ranya Rao disposed of 49.6 kg of gold and transferred Rs 38.4 crore in hawala money to Dubai.
The DRI stated, "The investigations have indicated that Jain, who is from Ballari and based in Bengaluru, aided Ranya Rao in disposing of 49.6 kilograms of gold valued at approximately Rs 40 crore and facilitating the transfer of hawala funds amounting to Rs 38.4 crore to Dubai."
