The Ernakulam Principal Sessions Court denied anticipatory bail to Prasanth Mehta, managing director of Rajesh Exports, here on Thursday. The court also denied the bail pleas of company manager Biju Abraham and exim manager Harish Babu.
Babu had been arrested by the Directorate of Revenue Intelligence while he was allegedly smuggling out 900 grams of gold from the Cochin Special Economic Zone.
On interrogation, he had said that the gold had been handed to him by Mr. Abraham.
Sessions judge P. Ubaid said in the order that custody of Mehta was necessary to gather evidence about the mode of operations and the amount of gold that may have been smuggled out. While denying the bail pleas of Abraham and Babu, the court said that the offences they were charged with were not merely those of tax evasion. The prosecution had argued that the company officials had smuggled around 4 kg of gold out of the SEZ.
The case is that company officials smuggled 4 kg of gold out of the SEZ