The Enforcement Directorate seized luxury vehicles, cash, and jewellery in a money laundering probe linked to a ₹1,396 crore bank fraud involving Odisha-based businessman Shakti Ranjan Dash and his firms, allegedly tied to shell transactions with Himachal's Indian Technomac Company Ltd
Based on specific intelligence inputs, the DRI found that luxury vehicles were imported into India at nearly 50 per cent of their value through deliberate under-invoicing and misdeclaration at Indian ports
The automaker, which remains cautiously optimistic about its sales outlook in the country next year, noted that reduction in cess would help the luxury car segment in India attain critical mass in terms of volumes.
