Ranya Rao
Credit: Special Arrangement
Bengaluru: A Bengaluru court on Wednesday reserved the order on the bail application filed by the third suspect in the Ranya Rao gold smuggling case.
The Special Court for Economic Offences judge will pronounce the order on April 15 on the bail plea moved by Sahil Sakariya Jain, a jeweller from Ballari.
During the hearing, the counsel for the Directorate of Revenue Intelligence (DRI) filed objections to the bail, while Jain's representatives argued for bail.
The DRI has claimed that Jain helped Ranya, the prime suspect, in Hawala transactions, disposing of the smuggled gold and sharing the sale proceeds.
The DRI alleges that Jain helped Ranya transfer Rs 11 crore and Rs 11.25 crore to Dubai through the Hawala route in January and February, respectively, this year. He also accepted having helped Ranya get Rs 55 lakh and Rs 55.81 lakh in January and February, respectively, in Bengaluru through Hawala, the central agency claims.
The DRI suspects that Jain has helped Ranya dispose of 49 kg of gold worth Rs 40.13 crore. He allegedly accepted having helped her by sending Rs 38.3 crore to Dubai via Hawala and getting Rs 1.73 crore through the same channel. The DRI also claimed that Jain received Rs 55,000 as commission for each transaction.