ED files prosecution complaint against Ranya Rao in ₹102.55-crore gold smuggling case

Bengaluru

The Directorate of Enforcement (ED) has filed a prosecution complaint under the Prevention of Money Laundering Act, 2002 (PMLA) before the Special Court for PMLA cases in Bengaluru against Harshavardini Ranya alias Ranya Rao, Tarun Konduru and Sahil Sakariya Jain in connection with an alleged large-scale gold smuggling and money laundering racket.

According to the ED, the complaint was filed on February 25 by its Headquarters Investigation Unit-II, New Delhi. The agency initiated its probe based on an FIR registered by the Central Bureau of Investigation (CBI), AC-II, New Delhi, following a complaint by the Directorate of Revenue Intelligence (DRI).

The case stems from the interception of 14.213 kg of foreign-origin gold worth approximately ₹12.56 crore from Harshavardini Ranya at the Kempegowda International Airport on March 3, 2025. Subsequent searches reportedly led to the seizure of gold jewellery valued at ₹2.06 crore and Indian currency amounting to ₹2.67 crore. The DRI has separately filed a prosecution complaint under Section 135 of the Customs Act, 1962.

The ED’s investigation under PMLA revealed that a total of 127.287 kg of gold, valued at about ₹102.55 crore, was allegedly smuggled into India between March 2024 and March 2025. The agency claims the gold was disposed of in the domestic market through a network of handlers and jewellers. The proceeds were allegedly generated in cash and settled via hawala channels in India and abroad, before being layered through multiple bank accounts and entities to project them as legitimate transactions.

Search operations conducted at 16 locations across Karnataka on May 21 and 22, 2025, led to the seizure of incriminating documents, digital devices, and both Indian and foreign currency. Statements of several individuals were recorded under Section 50 of the PMLA during the investigation.

The ED has also provisionally attached immovable properties worth ₹34.12 crore held in the name of Harshavardini Ranya under Section 5(1) of the PMLA.

The agency stated that the investigation has uncovered an organised mechanism involving procurement of gold abroad, illegal import into India, cash-based disposal, and laundering of proceeds through hawala and banking channels. It has charged the accused under Sections 3 and 4 of the PMLA. Further investigation is ongoing.