Monday, December 19 2005 17:21 Hrs (IST) - World Time -

Kolkata: The Directorate of Revenue Intelligence has issued a show cause notice to Pawan Kumar Ruia, who had acquired public sector engineering giant Jessop & Co and ailing tyre company Dunlop India Limited, for allegedly claiming false export benefits.

"We have issued notice to Ruia for claiming export benefits to the tune of Rs 125 crore," Sanjib Sachdeva, SP, DRI told sources here today.

He said the notice had been issued in the first week of December and the respondent has been given 30 days' time to respond to it.

Sachdeva further said the notice issued by the DRI would be adjudicated by the Commissioner of Customs.

"The notice has been issued on the basis of investigation against Ruia in 2004-05," he said, adding that the benefits were claimed in lieu of purported exports during 2001 to 2004.

But only no exports took place during the period.

When contacted, Pawan Ruia termed the charge as false and fabricated, but said, "We have received the notice which is being examined by (our) legal people."

The notice would be challenged at the appropriate forum.