Directorate of Enforcement (ED), Headquarter Office, New Delhi has provisionally attached immovable
properties valued at ₹34.12 Crore under the provisions of the Prevention of Money Laundering Act (PMLA),
2002 in a case involving transnational gold smuggling and laundering of its proceeds by Ms. Harshavardini
Ranya alias Ranya Rao and her associates. The attached assets include immovable properties located in
Bengaluru and Tumkur districts of Karnataka. The attachments have been made in terms of Section 5(1) of
PMLA as property equivalent in value to the untraced proceeds of crime identified during the course of
investigation.
ED initiated its investigation on the basis of FIR No. RC2172025A0006 dated 07.03.2025 registered by the
Central Bureau of Investigation (CBI), AC-II, New Delhi under Section 61(2) of the Bharatiya Nyaya Sanhita,
2023 (corresponding to Section 120B IPC) and Sections 7 & 12 of the Prevention of Corruption Act, 1988,
following a complaint by the Directorate of Revenue Intelligence (DRI). The FIR pertained to the interception
of two foreign nationals—an Omani and a UAE citizen—at Mumbai International Airport with 21.28 kg of
smuggled foreign-origin gold, valued at ₹18.92 Crore. Earlier, on 03.03.2025, DRI had intercepted Ms.
Ranya Rao at Kempegowda International Airport, Bengaluru, with 14.213 kg of concealed 24-carat foreignorigin gold, valued at ₹12.56 Crore. A search of her residence resulted in the recovery of ₹2.67 Crore in
unaccounted Indian currency and gold jewellery worth ₹2.06 Crore.
The ED investigation has revealed that Ms. Ranya Rao, in active collusion with Mr. Tarun Konduru Raju and
others, orchestrated a well-structured operation for smuggling gold into India. Gold was procured from
suppliers based in Dubai, Uganda, and other jurisdictions, and payments were made through hawala
channels in cash, thereby circumventing legal financial systems. False customs declarations were filed in
Dubai (Dubai Customs deceleration attached for reference), fraudulently declaring the destination of gold
shipments as Switzerland or the USA, while the actual travel of the gold smugglers was to India. Dual sets of
travel documents were used i.e. one for the declared export destination and the other for their actual arrival
in India, to evade scrutiny and facilitate smuggling through Indian airports.
Further, ED investigation has revealed that the smuggled gold was then sold within India in cash to jewellers
and other local entities, and the proceeds were subsequently laundered through further hawala remittances
abroad to finance repeat consignments for smuggling more gold into India. Evidence retrieved from the
seized mobile phones and forensic extraction of digital devices, have revealed detailed coordination with
foreign gold suppliers, hawala operators, and Dubai-based customs agents. Ms. Ranya Rao’s involvement in
generating, possessing, and circulating proceeds of crime was further corroborated by her digital footprint,
which includes invoices, export declarations, foreign remittance records, and recorded chats establishing her
active role in the smuggling syndicate
In her statement under Section 50 of the PMLA, Ms. Ranya Rao denied knowledge of the seized gold and
other assets; however, her claims were demonstrably contradicted by seized physical evidence, including
customs documents bearing her name, travel and purchase records, and digital conversations. Despite the
seizure of 14.2 kg of smuggled gold and associated assets by DRI, the total proceeds of crime identified
during ED’s investigation have been quantified at ₹55.62 Crore. This includes approximately ₹38.32 Crore
identified through analysis of the evidence gathered during the course of investigation by ED e.g. foreign
invoices, customs declarations, and hawala-linked remittances. The same has been corroborated through
searches conducted by ED under Section 17 of PMLA. It has also emerged during investigation that Ms.
Ranya Rao was assisted at the airport upon her arrival in India, and the possible involvement of public
servants in facilitating her illicit activities is under scrutiny.
As a substantial portion of the proceeds of crime had been layered and reinvested into immovable assets to
project them as untainted, ED has provisionally attached four properties of equivalent value belonging to Ms.
Ranya Rao. These include a residential house in Victoria Layout, Bengaluru; a residential plot in Arkavathi
Layout, Bengaluru; industrial land in Tumkur District; and agricultural land in Anekal Taluk, with a combined
fair market value of ₹34.12 Crore.
The attachment has been carried out to prevent concealment or alienation of the tainted assets and to
secure the proceeds of crime in accordance with Section 2(1)(u) of the PMLA. Further investigation is under
progress to trace the remaining proceeds of crime and identify other individuals and entities involved in the
syndicate.
