Industrialist Held For Tax Evasion

LUDHIANA – Leading city industrialist Rakesh Goyal was arrestedlast night by teams of the Central Economic Intelligence Bureau,Directorate of Revenue Intelligence and the local police.Sources said Goyal had been held for export duty and tax evasion tothe tune of around Rs 150 crore.Harpal Singh Grewal, Station HouseOfficer (SHO) of Sarabha Nagar said Goyal had been booked underthe Cofeposa Act (Conservation of Foreign Exchange andPrevention of Smuggling Activities Act,1974).He is the second businessmen to have been arrested in the past oneweek. Earlier on October 16, Rajesh Mehra, one of the directors ofRajit Paints, was arrested by the Delhi Police in a multi-crore embezzlementcase. Goyal’s counsel Harpreet Sandhu has moved a petitionbefore the authorities concerned for “illegal detention” without followingthe prescribed procedure under the Cofeposa Act.