Luxury Watch Smuggling Network Exposed: DRI Mumbai Seizes Rare Timepieces Valued at Rs 30 Crores
The vigilant and strategic operation carried out by the DRI uncovered a sophisticated network involved in the illegal import and trade of high-value watches. The seized watches represent some of the most sought-after luxury brands and are adorned with exquisite craftsmanship, making them highly desirable among collectors and aficionados worldwide.
The smuggled watches were discovered concealed in the suspect's residence during a targeted raid by DRI officials. The precision of the operation is a testament to the agency's commitment to combatting unlawful activities and safeguarding the nation's economic interests.
An initial assessment of the seized watches indicates that most of them are exclusive limited edition timepieces, featuring unique designs and exceptional technical prowess. Their rarity and prestige contribute to their significant market value, attracting the attention of discerning collectors and enthusiasts.
It was revealed that the individual involved in the smuggling operation attempted to evade the applicable Customs duties by importing the watches through baggage, which typically attracts 38.5% of Customs duties as per the prevailing Baggage Rules. However, the DRI's keen eye and dedication to duty ensured that the illicit activity was uncovered, preventing substantial revenue loss to the nation.
The investigation into the intricate network behind the illegal import and trade of these high-end watches is ongoing. The DRI is committed to tracing the origins of these illicit activities, identifying all involved parties, and ensuring that the appropriate legal actions are taken against them.
The successful operation by the DRI serves as a reminder of the agency's relentless efforts to safeguard the nation's economic interests and curb illegal trade practices. It also sends a strong message to potential smugglers and miscreants, warning them of the consequences of engaging in unlawful activities.
The seized high-end watches will be subjected to a comprehensive evaluation and verification process by experts to establish their authenticity and market value accurately. Once the investigation is concluded, the watches will be handed over to the relevant authorities for appropriate disposal as per the established legal procedures.
The DRI's steadfast commitment to enforcing the law and upholding the integrity of India's economic systems continues to play a vital role in ensuring a safe and secure environment for all citizens and legitimate businesses.
