$19m Diamond Over-Valuation Case Suspended
August 22, 22
(IDEX Online) - The case against customs officials in India accused of over-valuing imported diamonds worth more than $19m has been suspended.
Bombay High Court has set aside the show cause notices, which are issued when a government official is held prima facie responsible for misconduct.
Pradeep Jhaveri, a customs valuer in Mumbai, was accused of misappropriating bills of entries relating to diamonds he allegedly appraised, according to an India Today report.
He and others, including government-approved valuers, were accused of over-valuing low-grade diamonds.
The Bombay High Court suspended the show-cause notices after the Supreme Court ruled that officers from the DRI (Directorate of Revenue Intelligence) went beyond their powers in issuing them.