(a) whether during the raids conducted by the Enforcement Directorate
recently in Mumbai certain Indian exporters, who export their goods
to Russia were found involved in multi-crore fraud;
(b) if so, the details thereof;
(c) the amount involved and the modus-operandi of the exporters
involved in the fraud;
and
(d) the action has been taken by the Government in the matter ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI GINGEE N. RAMACHANDRAN)
(a) : Yes, Sir.
(b)&(c): On the basis of documents recovered by the Enforcement
Directorate and subsequent interrogation of persons involved, it is
suspected that certain unscrupulous exporters were abusing the policies
governing exports from India to Russia against Repayment of State Rupee
Credits. Among other things, overinvoicing and hawala payment abroad
of large amounts are suspected.
(d) : Eight persons involved in the alleged fraud, were arrested.