Raymond Group CMD Gautam Singhania paid ₹328 crore in penalties to settle the DRI case of importing 142 cars
Singhania, a passionate car collector, planned to open a car museum at JK House, Cumballa Hill.
The vintage cars were acquired between 2018-2022 and procured from top auction houses worldwide including Sotheby’s, Barret-Jackson and Bonhams.
He allegedly undervalued the imported luxury cars routed through intermediaries registered in UAE, Hong Kong, and the US to evade customs levies and duties of ₹229.72 crore.