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Old 19th July 2021, 23:31   #46
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Default Re: DRI busts luxury car smuggling racket

Many of the unregistered cars that BBT sold, did not carry manufacturer’s warranty and this was explicitly mentioned. BBT themselves provided six months warranty. These were Volvos and few Range rovers
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Old 19th July 2021, 23:41   #47
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I'm just surprised by the fact that how many of us have already passed the judgement regarding BBT's involvement!
For one, the articles mention nearly 20 cars over a period of 5 years which would not be suspicious on the books ( IF it's true at all). AND also there isn't any mention or proof that ALL the cars were sold through BBT channel. So, I find it ridiculous to point out a company based on assumed size of transactions by an individual. Here is a quote from HT article regarding temporary financing of the said vehicle's.

"Apart from Miglani, DRI has also arrested Liyakat Bachau Khan, an employee of the Dubai -based mastermind, and Suriya Arjunan, a Bengaluru based financier who used to fund the purchase of vehicles before they were transferred to private persons in India, said an official who didnít want to be named."

Also, The key point mentioned in all articles was that CEO was the one IDENTIFYING potential buyers, not the one selling directly.

It would be easy to point out a mention of "A showroom from andheri was used to display the car" from the articles, but with all due respects Andheri is not a small area, its not clear if it's andheri east/West and neither do we know that it's a high end luxury car that can be specifically tagged to BBT. (Disclaimer: I'm not from Mumbai. Hence I do not know the area in person but a map search definitely throws up few luxury used car dealers)

BBT management whether involved or not directly is a matter that's under investigation. But passing on statements like "Would Have known" "Might Have known" etc., is completely unjustified.

My point here is we just cannot make assumptions based on perceptions going through limited information in publication(s).

Apologies if any one feels offended.
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Old 20th July 2021, 00:32   #48
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Default Re: DRI busts luxury car smuggling racket

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Originally Posted by snap2329 View Post
I'm just surprised by the fact that how many of us have already passed the judgement regarding BBT's involvement!
For one, the articles mention nearly 20 cars over a period of 5 years which would not be suspicious on the books ( IF it's true at all). AND also there isn't any mention or proof that ALL the cars were sold through BBT channel. So, I find it ridiculous to point out a company based on assumed size of transactions by an individual. Here is a quote from HT article regarding temporary financing of the said vehicle's.

"Apart from Miglani, DRI has also arrested Liyakat Bachau Khan, an employee of the Dubai -based mastermind, and Suriya Arjunan, a Bengaluru based financier who used to fund the purchase of vehicles before they were transferred to private persons in India, said an official who didnít want to be named."

Also, The key point mentioned in all articles was that CEO was the one IDENTIFYING potential buyers, not the one selling directly.

It would be easy to point out a mention of "A showroom from andheri was used to display the car" from the articles, but with all due respects Andheri is not a small area, its not clear if it's andheri east/West and neither do we know that it's a high end luxury car that can be specifically tagged to BBT. (Disclaimer: I'm not from Mumbai. Hence I do not know the area in person but a map search definitely throws up few luxury used car dealers)

BBT management whether involved or not directly is a matter that's under investigation. But passing on statements like "Would Have known" "Might Have known" etc., is completely unjustified.

My point here is we just cannot make assumptions based on perceptions going through limited information in publication(s).

Apologies if any one feels offended.
I agree with you. We may be passing a judgement prematurely. But it is not about BBT alone.

The problem is in India it is very frustrating that the used car market is a a very shady, non transparent sector. Everyone is looking to make a fast buck without looking at the long term picture.

There are so many good used cars which can last for lacs of kilometres if they are sold correctly and dealers help buyers make an informed decision.

I was in the market to buy a high end SUV but gave up eventually and thought it made more sense to wait a little longer and buy a new one.
More peace of mind.
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Old 20th July 2021, 08:54   #49
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Default Re: DRI busts luxury car smuggling racket

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@ kiku - you pay higher taxes if the car is not imported from its country of manufacture.
Wow, I did not know that. I thought ~125% was the upper limit but 204% is at a different level. I guess it prohibits import by most people but provides the motive for some people to play the system.
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Old 20th July 2021, 12:16   #50
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Default Re: DRI busts luxury car smuggling racket

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Originally Posted by snap2329 View Post

Also, The key point mentioned in all articles was that CEO was the one IDENTIFYING potential buyers, not the one selling directly.
I actually missed this nuance. I guess its indeed possible that the CEO was doing this outside of the BBT franchise with the Dubai contact using his knowledge of the BBT customer base. That these sales in fact weren't passing through the BBT franchise at all. In which case it would be for further investigation to reveal who and how many are the guilty parties in this racket.

But if it is passing via the BBT network (or part of BBT business but being kept off balance sheet for obvious reasons) then it may be a wider universe of BBT that is involved in this.

Let there be a proper investigation hopefully that will reveal who all are in fact the guilty parties.
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Old 21st July 2021, 16:05   #51
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Default Re: DRI busts luxury car smuggling racket

BBT is live on Instagram right now providing its official clarification on the issue.

Sum and substance is the same as written earlier:

Actions are of the employee in his individual capacity and that no BBT customer has been adversely affected in this process.

Lets see how the investigation develops.

Last edited by Akshay1234 : 21st July 2021 at 21:02. Reason: typo
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Old 21st July 2021, 18:01   #52
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Default Re: DRI busts luxury car smuggling racket

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BBT is live on Instagram right now providing its official clarification on the issue.
This is his side of story. Hopefully, truth will come out soon.

https://www.instagram.com/p/CRli_pHIE1g/

Last edited by mukeshgoel : 21st July 2021 at 18:03.
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Old 22nd July 2021, 17:48   #53
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Default Re: DRI busts luxury car smuggling racket

Due to such crooks, the motivation for affording a used high end car or bike are shattered. No one would want to put their hard earned money into a doubtful purchase. Unknowingly I am sure lot of first time in-experienced aspirational buyers may have got hold of these. The entire used luxury car and bike market in India will suffer due to these crooks.
Even for new purchases, many will be skeptical for purchasing new high end cars & bikes too, since no one knows what the used car/bike scene will be when its time to sell.
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Old 23rd July 2021, 07:35   #54
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Default Re: DRI busts luxury car smuggling racket

Unverified but from a very reliable source. The total car volume involved is over 200. Hyderabad alone has had 8-10 confiscations. Also seems true that accused was doing vigor without management knowledge and probably using the official business to source for leads
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Old 23rd July 2021, 09:40   #55
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Originally Posted by harshaguduru View Post
Also seems true that accused was doing vigor without management knowledge and probably using the official business to source for leads
There is no way on earth a single individual can sell 200 cars without company knowledge. There is full collusion among everyone inside BBT to pull off something like this.
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Old 23rd July 2021, 11:10   #56
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Default Re: DRI busts luxury car smuggling racket

Here's a story in TOI today that : Diplomats too involved in high-end car import scam.

The Directorate of Revenue Intelligence (DRI) has indicated involvement of diplomats in the car import racket in which high-end vehicles were imported duty-free under privileges enjoyed by diplomats. The vehicles were sold in the local market by the syndicate. A clerk working on contractual basis in the Ministry of External Affairs (MEA) is under scanner.

https://timesofindia.indiatimes.com/...w/84661007.cms
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