Panaji: A provisional release order has been issued for the Punj Lloyd Group-owned 260 cr Gulfstream business jet seized by the directorate of revenue intelligence (DRI) on January 3 at Dabolim airport.
The jet was scheduled to fly a top company official to Doha. Customs sources have confirmed that the provisional release order was issued on furnishing of a bond of 260 cr (value of the aircraft) and a bank guarantee of 11.5 cr (25% of the duty amount of 47.33 cr) by Punj Lloyd Pte Ltd, Singapore, which owns this aircraft.
The jet is registered in the US and was used to fly company executives from various destinations including India.
11/01/12 Times of India
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