Illegal import of luxury cars: Alex Joseph in CBI custody

CBI has secured till February 6 a remand of Alex Joseph, accused of causing a loss of over Rs 48 crore to the exchequer, for interrogating him on his alleged role in illegal import of luxury cars into India.
Joseph, who was arrested here, was taken to a Chennai court where he was remanded in the agency's custody till February 6, CBI said.
The accused was on the run ever since CBI registered a case last year and had even visited the house of DMK leader M K Stalin, a move which led to angry reaction from the party.
The case was registered on March 20 last year against Joseph and officials of Directorate of Revenue Intelligence under various sections of Indian Penal Code related to forgery and cheating.

The allegation was that Joseph had imported luxury cars through Indian sea ports violating pre- and post-import provisions and in this process, cheating and causing loss to the tune of Rs 48.40 crore to the government in the matter of import duty.
CBI alleged that Joseph was engaged in the business of import of high value foreign cars for the past several years and selling them in the local market. These cars were imported only on Transfer of Residence (TR) Rules under the Customs Act, 1962.

The alleged modus operandi followed was that he used to get orders from the buyers and would place the orders for the required car at the foreign country with the used car dealers.

Thereafter, he would hire the assistance of Indian nationals being repatriated to India on cancellation of work permits. These cars were thereafter consigned to India through Chennai, Mumbai, Cochin sea ports and New Delhi Airport in the names of these repatriated workers.
Joseph, in order to avoid his arrest, had even approached Madras High Court, which turned down his repeated prayers for grant of anticipatory bail.
CBI had also issued "Look Out Circular" to all airports to apprehend him.