India, Aug. 29 -- The Mumbai unit of the Directorate of Revenue Intelligence (DRI) arrested two people on Tuesday for their alleged roles in a Rs.114.74-crore fraud involving the availment of export incentives through misdeclaration and overvaluation of garment exports.

The anti-smuggling intelligence agency arrested an exporter, the alleged mastermind of the fraud, and a private Customs broker who allegedly received commission for processing such exports, officials said, without disclosing their names.

The DRI's probe was based on specific intelligence it had received about an alleged syndicate that was fraudulently availing duty drawbacks and Rebate of State and Central Taxes and Levies (RoSCTL) benefits by exporting misdeclared and h...