India News | ED Attaches Assets of Indians, Thai Resident in Red-sanders Smuggling Case

New Delhi, Jan 18 (PTI) The ED has attached assets worth Rs 1.44 crore, including cash seized from a "permanent resident" of Thailand, in a money-laundering probe linked to an alleged red sanders wood-smuggling case.

The case stems from a criminal investigation conducted by the Directorate of Revenue Intelligence (DRI) in 2013 against one Anil Gadodia and Rameshwar Sharma, proprietor of the Eurro Export company in Jaipur, and others.

"The DRI had recovered and seized four containers (in 2013) from the Mundra port, which were to be exported to Hong Kong in the guise of marble slabs, and 14.25 metric tonnes of red sanders wood was found stuffed and concealed with around 94 metric tonnes of marble slabs," the Enforcement Directorate (ED) said in a statement on Monday.

The DRI had booked the accused and also filed a chargesheet under various sections of the Customs Act before a court in Jaipur.

The central agency's probe found that "Rameshwar Sharma of Jaipur exported or attempted to export the red sanders supplied by Anil Gadodia of Delhi in connivance with other co-accused persons".

"For this criminal act, Rs 1.40 crore were illegally received by Gadodia and Sharma collectively," it said.

Immovable properties, which are the "proceeds of crime" in the case and are located in Jaipur, Delhi and Mohali, have been provisionally attached under the Prevention of Money Laundering Act (PMLA), it said.

"Further, cash of Rs 4.2 lakh recovered and seized by the DRI from other co-accused named Yodying, a permanent resident of Thailand, has also been attached," the agency said.

Red sanders wood is found mainly in the Seshachalam hill ranges spread across Kadapa, Chittoor and Kurnool in the Rayalaseema region and parts of Nellore district in Andhra Pradesh.

The wood has a huge demand abroad, especially in China and Japan, where it commands a good price.

According to reports, the wood fetches over Rs 25 lakh a tonne in the international market.

It is a valued item in the preparation of traditional medicines and woodcraft across China, Myanmar, Japan and East Asia.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)