The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), has been invoked against arrested Kannada actress Ranya Rao in connection with a gold smuggling case, sources confirmed on Friday.
The Central Economic Intelligence Bureau (CEIB), a nodal agency under the Ministry of Finance, invoked the COFEPOSA Act against Ranya Rao and other accused individuals based on the recommendation of the Directorate of Revenue Intelligence (DRI), which is leading the investigation.
Following the invocation of COFEPOSA, Ranya Rao will be ineligible for bail for a period of one year. The Act is typically applied to prevent repeat smuggling offenses and to address non-cooperation with investigative agencies, sources said.
Authorities decided to invoke the stringent law after Ranya Rao and others repeatedly attempted to secure bail. Along with Rao, the other accused — Tarun Raju and Sahil Sakaria Jain — have also been booked under COFEPOSA.
Ranya Rao, the stepdaughter of senior police officer Ramachandra Rao, was arrested on March 3 for allegedly smuggling 14.2 kilograms of gold worth over Rs.12.56 crore. All three accused are currently lodged in Bengaluru Central Prison.
The case is under investigation by the DRI, the Enforcement Directorate (ED), and the Central Bureau of Investigation (CBI). Meanwhile, the state government has formed a special team led by a senior IAS officer to probe DGP Ramachandra Rao’s possible involvement; the team’s report has been submitted to the government, sources added.
The DRI’s investigation has uncovered that Ranya Rao, in collusion with co-accused Jain, was involved in hawala transactions. According to the DRI’s remand application filed before the Special Court for Economic Offences, Ranya Rao and jeweller Sahil Sakaria Jain engaged in a hawala network to dispose of smuggled gold.
Investigators found that Rao, with Jain’s assistance, allegedly sold 49.6 kilograms of gold and transferred hawala money worth ₹38.4 crore to Dubai.
“The investigations have indicated that Jain, a native of Ballari now based in Bengaluru, assisted and abetted Ranya Rao in disposing of 49.6 kilograms of gold worth around Rs. 40 crore and transferring Rs. 38.4 crore through hawala channels to Dubai,” the DRI stated.
(With IANS inputs)
