Rs.500-cr iPhone smuggling racket lands man in DRI net
Mumbai, Dec. 4 -- The Mumbai zonal unit of Directorate of Revenue Intelligence (DRI) claims to have unearthed a major racket involving M/s Salecha Electronic Inc and M/s 2000 Semiconductors that allegedly imported iPhones worth around Rs.500 crore by mis-declaring gadgets as "computer parts and memory modules". According to the DRI, this has caused loss of over Rs.200 crores to the public exchequer....
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