Gold Smuggling Case: 3 Bengaluru Firms Linked To Ranya Rao Under DRI, ED Scanner

The Directorate of Revenue Intelligence (DRI) and the Enforcement Directorate (ED) have launched an investigation into three companies linked to gold smuggling suspect Ranya Rao. Sources indicate that these firms are being scrutinized for possible financial irregularities, money laundering, and shell company operations.

The three companies under investigation are Ranya Rao Photography Pvt Ltd (incorporated on July 28, 2020), Ayrus Greens Pvt Ltd (May 12, 2021), and Ksiroda India Pvt Ltd (April 21, 2022), which was earlier registered as Bioenzo India Private Limited. Notably, Ranya Rao, also known as Harshavardini Ranya, serves as one of the directors in all three companies.

Family Ties and Business Operations

Company records reveal that Puttaswamy Hallihithlu Rohini, Ranya Rao’s mother, was a co-director in Ayrus Greens Pvt Ltd and Ranya Rao Photography Pvt Ltd, while Kabbinahalli Rushab, her brother, was a co-director in Ksiroda India Pvt Ltd. All three firms were registered under the same address at 7th Cross, Victoria Layout, Bengaluru.

Despite being categorized as private non-government companies with an authorized capital of Rs 10 lakh each, these businesses are now under scrutiny for alleged money laundering operations. Ayrus Greens Pvt Ltd was classified under the National Industrial Classification (NIC) for agriculture, including the growing of cereals and other crops. Ranya Rao Photography Pvt Ltd was set up as a photography business, purportedly due to Rao’s claim of being a wildlife photographer. Meanwhile, Ksiroda India Pvt Ltd had recently made headlines for its land allocation controversy in Sira Industrial Area, Tumakuru. The Karnataka Industrial Areas Development Board (KIADB) had initially approved 12 acres of land for the company’s steel manufacturing operations on February 22, 2023. However, the allocation was later revoked due to non-payment.

Suspicious Financial Activities Under Probe

Investigators suspect that these firms may be shell companies used for parking illicit funds and obscuring the money trail. Sources indicate that company reports, balance sheets, and bank transactions are being closely examined for any anomalies.

“The authorities are probing if more such firms were suspiciously registered post-2020 to facilitate financial fraud,” a source familiar with the probe stated.

Ranya Rao’s Arrest and Smuggling Allegations

The investigation into these firms gained momentum following the March 3 arrest of 33-year-old Ranya Rao at Kempegowda International Airport, Bengaluru. She was intercepted by DRI officials upon arrival from Dubai and found to be in possession of 14.2 kg of foreign-origin gold bars worth Rs 12.56 crore.

Authorities are now working to establish a connection between Ranya Rao’s smuggling operations and the financial dealings of her companies. The ED and DRI are expected to issue further notices as part of their crackdown on suspected money laundering activities linked to these entities.

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