3 Bengaluru firms linked to Ranya Rao under scanner of DRI, ED

Bengaluru: At least three companies linked to gold smuggling suspect Ranya Rao are on the radar of investigators from the Directorate of Revenue Intelligence (DRI) and the Enforcement Directorate (ED), sources said.

The companies are Ranya Rao Photography Pvt Ltd (incorporated on July 28, 2020), Ayrus Greens Pvt Ltd (May 12, 2021) and Ksiroda India Pvt Ltd (April 21, 2022), which was earlier Bioenzo India Private Limited. In all three companies, Ranya Rao alias Harshavardini Ranya is one of the directors.

While her mother, Puttaswamy Hallihithlu Rohini, was the co-director of Ayrus Greens Pvt Ltd and Ranya Rao Photography Pvt Ltd, her brother, Kabbinahalli Rushab, was the co-director of Ksiroda India Pvt Ltd.

All three firms were registered with an address at 7th Cross, Victoria Layout, Bengaluru, as per the company records seen by DH.

The latest records showed that all three firms were "active, private and set up with an authorised capital of Rs 10 lakh each". The three firms were registered under the subcategory "non-government company" and weren't listed on the stock exchanges, per the records. 

According to the company records, Ayrus Greens Pvt Ltd had a National Industrial Classification (NIC) related to growing cereals and other crops, etc. Sources said Ranya Rao Photography Pvt Ltd was incorporated as the actor had claimed to be a "wildlife photographer".

Ksiroda India Pvt Ltd was recently in the news after it was revealed that a government order dated February 22, 2023, approved 12 acres of land in Sira Industrial Area, Tumakuru, to be allotted to the firm by KIADB but was revoked due to lack of payment.

It had sought the land after claiming to manufacture "steel products — TMT bars, rods and allied products". The order also approved 30 cubic meters of water per day from the KIADB and 13 MW of power from BESCOM. 

Parking the money

Sources in the know of the probe said the investigating agencies suspect these companies may be shell corporations used to park the money for laundering and to obscure the money trail.

"Companies' reports, balance sheets and bank statements are being scoured to identify links," the source said. "The investigators are also looking at if there were more such firms suspiciously registered after 2020." 

Ranya, 33, was arrested on March 3 after she flew into Bengaluru from Dubai. According to the DRI, she was found carrying 14.2 kg of foreign-origin gold bars worth Rs 12.56 crore on her person.

Even as the DRI was investigating, it wrote to the CBI prompting them to register an FIR on March 7 to probe a larger gold smuggling syndicate. The ED then took note of the CBI FIR and registered a money laundering case on March 13.