Industry & Economy
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Economic Offences
Ruia Group Chairman served with DRI notice
Our Bureau
Kolkata
,
Dec. 19
THE Directorate of Revenue Intelligence (DRI) today issued a show-cause notice on Mr P.K. Ruia, Chairman of Ruia Group, for allegedly claiming export benefits to the tune of Rs 125 crore through one of the group companies.
The claims were allegedly made during 2001-04.
The Ruia Group, which had previously turned around the ailing Jessop & Co, has recently acquired controlling stake in the sick Dunlop India Ltd and Falcon Tyres from the Jumbo Group.
When contacted, Mr Ruia confirmed receiving the notice but described the charges levelled as "false and fabricated".
He said, "The company against which DRI has levelled charges is not promoted by me, and neither has the Ruia Group anything to do with the said export benefits."
He said the issue was pending with DRI for more than one-and-a-half years. "Various writ applications are pending in the Calcutta High Court on this issue. Even the jurisdiction of DRI to investigate the case was challenged in the High Court. It is surprising and appears to be irregular that prior to clarifying their legal position before the court, the DRI has issued a show-cause notice."
Stating that he intends to challenge the notice at an appropriate forum, Mr Ruia said, "The whole exercise on the part of DRI regrettably seems to be aimed at harassing and defaming me at a time when my total attention is focussed on reopening Dunlop India."
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