Ahmedabad: The Gujarat arm of Department of Revenue Intelligence (DRI) has seized a private jet owned by Pankaj Patel, the promoter of Zydus Cadila group. According to sources, DRI is looking into the evasion of customs duty by the importer.
The nine-seater aircraft, Bombardier Challenger-604, has been valued at Rs70 crore. It was allegedly imported from the US by Zest, which is part of the Zydus Cadila group.
The company had applied for Non Scheduled Operations Permit (NSOP) from the Directorate General of Civil Aviation. While planes imported under the NSOP category are levied an import duty of around 5%, those that are used for private purposes attract a duty of 17%, said DRI sources.
04/01/13 Daily News & Analysis
