Karnataka High Court Rejects Ranya Rao's Bail in Gold Smuggling Case
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Synopsis
On April 26, 2023, the Karnataka High Court dismissed actress Ranya Rao's bail plea related to a gold smuggling investigation, which implicates her in significant monetary transactions and involvement in hawala activities. The case continues to unfold with multiple agencies involved.
Key Takeaways
- Karnataka High Court dismisses bail plea of Ranya Rao.
- COFEPOSA Act invoked, denying bail for one year.
- Rao allegedly smuggled 14.2 kg of gold valued at over Rs 12.56 crore.
- Investigation reveals involvement in hawala transactions.
- Central agencies involved include DRI, ED, and CBI.
Bengaluru, April 26 (NationPress) The Karnataka High Court has officially rejected the bail application of actress Ranya Rao concerning the ongoing gold smuggling case.
The bail request from the second accused, Tarun Raju, was similarly dismissed.
This ruling was made by a bench led by Justice Savanur Vishwajith Shetty.
It is important to note that Rao is the step-daughter of a DGP who has been placed on compulsory leave.
In addition, the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA) has been invoked against Rao.
The Central Economic Intelligence Bureau (CEIB), a key agency under the Ministry of Finance, has enacted the COFEPOSA Act against the actress and other suspects based on recommendations from the Directorate of Revenue Intelligence (DRI), which is investigating the case.
Due to the invocation of the COFEPOSA Act, Rao will not be eligible for bail for a period of one year.
This Act is utilized to prevent accused individuals from engaging in smuggling activities once they are released on bail. It is also invoked if an accused is perceived as uncooperative with the investigative bodies, as per sources.
Sources indicate that the central agencies took this action after repeated attempts by Rao and others involved to secure bail.
Other suspects, including Tarun Raju and Sahil Sakaria Jain, are also facing charges under the COFEPOSA Act.
Ranya Rao, the stepdaughter of senior IPS officer Ramchandra Rao, was apprehended on March 3 for allegedly smuggling 14.2 kilograms of gold, valued at over Rs 12.56 crore.
Rao and the other two suspects are currently detained at Bengaluru Central Prison.
The investigation is being conducted by the DRI, the Enforcement Directorate (ED), and the Central Bureau of Investigation (CBI).
The state government has established a special team, headed by a senior IAS officer, to investigate the role of DGP Ramachandra Rao. A report on this matter has been submitted to the government, according to sources.
The DRI's investigation into the gold smuggling case has uncovered that the actress was involved in hawala transactions in collaboration with Jain, the third accused in this case.
In a remand application presented to the Special Court for Economic Offences regarding Jain's arrest in the gold smuggling case, the DRI alleged that Rao and the jeweller were part of 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 of hawala money to Dubai.
The DRI stated, "The investigations have shown that Jain, originally from Ballari and currently residing in Bengaluru, helped and abetted Ranya Rao in disposing of 49.6 kilograms of gold worth approximately Rs 40 crore and transferring hawala money of Rs 38.4 crore to Dubai."
