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Customs plans to invoke Cofeposa


Date: 03-08-2020
Subject: Customs plans to invoke Cofeposa
Kochi: Customs sleuths are mulling over invoking Cofeposa (Conservation of Foreign Exchange and Prevention of Smuggling Activities act), and Safema (The Smugglers and Foreign Exchange Manipulators (forfeiture of property) acts against the accused in Thiruvananthapuram gold smuggling case.

According to top officials privy to the information, the customs department has found enough evidence against the accused to invoke the acts so that actions, including attachment of property and awarding of detention, can be initiated against the accused. However, the acts would only be invoked at later stages of investigation, sources said. 

Cofeposa would enable customs to impose preventive detention against the accused for purposes of conservation and augmentation of foreign exchange and prevention of smuggling activities while Safema enables them to conduct the forfeiture of illegally acquired properties of smugglers and foreign exchange manipulators. 

Top sources said customs is in the process of making a foolproof case so that maximum punishment can be awarded to the smuggling syndicate. “We would be making a report that will be foolproof and can pass the test of any regulatory body, including the Cofeposa board. For this, details of their assets and the depth of their involvement in the smuggling would be assessed,” said an official. 

Customs are pushing for a quick extradition of Faisal Fareed and Rabins Hammed based in Dubai. “We are trying to get a red-corner notice issued as early as possible so that they can be brought back to the country. Since members of the consulate are involved, we are treading cautiously to extradite the accused. Concerned ministries have been apprised about crucial findings that cannot be discussed in the public domain,” said a source. 

Source:- timesofindia.indiatimes.com

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