Daijiworld Media Network - Bengaluru
Bengaluru, Apr 26: The Karnataka high court on Saturday dismissed the bail pleas of actress Ranya Rao and co-accused Tarun Raju in the high-profile gold smuggling case.
The order was passed by a bench led by Justice Savanur Vishwajith Shetty. Rao, notably the stepdaughter of a senior police official who has since been placed on compulsory leave, faces serious charges under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA), 1974.
Following the Directorate of Revenue Intelligence (DRI)'s recommendation, the Central Economic Intelligence Bureau (CEIB) — operating under the Ministry of Finance — invoked the stringent COFEPOSA Act against Rao and her associates. Under this law, the accused can be detained without bail for up to a year to prevent them from engaging in further smuggling activities. Officials said the move was prompted by the accused’s repeated attempts to secure bail and a perceived lack of cooperation with investigative agencies.
The other accused, Tarun Raju and Sahil Sakaria Jain, have also been booked under COFEPOSA.
Ranya Rao was arrested on March 3 for her alleged involvement in smuggling 14.2 kilograms of gold, valued at more than Rs 12.56 crore. She, along with her co-accused, is currently lodged in Bengaluru Central Prison. The case is under joint investigation by the DRI, Enforcement Directorate (ED), and Central Bureau of Investigation (CBI).
Meanwhile, the Karnataka government has appointed a senior IAS officer to probe the possible role of Ranya’s stepfather, DGP Ramachandra Rao. Sources indicate the report has been submitted to the state authorities.
Investigations by the DRI have unveiled deeper layers to the case, with allegations that Ranya Rao was part of a hawala network, collaborating with jeweller Sahil Sakaria Jain. According to a remand application filed before the Special Court for Economic Offences, Rao and Jain allegedly orchestrated the sale of 49.6 kilograms of gold — worth close to ?40 crore — and facilitated the transfer of Rs 38.4 crore in hawala money to Dubai.
Authorities maintain that the nexus between Ranya Rao and Jain, who hails from Ballari but is now based in Bengaluru, played a critical role in the operation’s international financial linkages.