Last Updated: March 13, 2024, 22:46 IST
Hong Kong-based businessman Girish Kadel faced charges under Section 174 of the Indian Penal Code (IPC) read with Section 108 of the Customs Act. (Representational Image)
Additional Chief Metropolitan Magistrate P. Modi dismissed the complaint filed on June 21, 2019, by the DRI, noting that both the complainant and the Public Prosecutor were absent on several dates
The Additional Chief Metropolitan Magistrate (ACMM) of Mumbai on Tuesday acquitted diamond merchant Girish Kadel in a case related to the overvaluation of rough diamonds filed by the Directorate of Revenue Intelligence (DRI).
In its order dated March 2, Additional Chief Metropolitan Magistrate P. Modi dismissed the complaint filed on June 21, 2019, by the DRI, noting that both the complainant and the Public Prosecutor were absent on several dates.
Hong Kong-based businessman Girish Kadel faced charges under Section 174 of the Indian Penal Code (IPC) read with Section 108 of the Customs Act.
The court observed, “…no steps are taken by the complainant to secure his presence. No one on his behalf is attending the proceeding of the case since long. Therefore, it can be said that the complainant or his department is not interested in proceeding further with this case.”
“Hence, the complaint stands dismissed under section 256 (1) of the Code of Criminal Procedure, 1973, for want of prosecution. The accused stands acquitted of the offence under section 174 of the Indian Penal Code, 1860, read with section 108 of the Customs Act,” the final order read.
The DRI investigation claimed that Hong Kong-based businessman Kadel imported rough diamonds from Switzerland to Hong Kong under the names of his four companies.
Kadel, who also had business dealings in India, exported some of these diamonds to India through 14 shipments under the companies Antique Exim Pvt Ltd and Tanman Jewels, falsely inflating their value to Rs 156.28 crore. However, during revaluation, the DRI found that the actual value of the consignment was only Rs 1.03 crore.
The DRI had filed the complaint in question before the ACMM Court regarding the inquiry being conducted into the alleged overvaluation in imports of rough diamonds by Antique Exim Pvt. Ltd. and Tanman Jewels.
In 2022, the Bombay High Court had set aside the show cause notices issued to parties and government officials involved in the overvaluation of diamonds. The show cause notice was issued to Girish Kadel and others, including government-approved valuers.