Archive · 28 Nov 2025
Customs Seizes ₹7.63 Crore Smuggled Currency in Mumbai
Customs officials in Mumbai found and took away a lot of money, about ₹7.63 crore, from an office in Mandavi.
This money included foreign and Indian currency that was brought into the country illegally.
The owner of the office, a 62-year-old man named H.M. Koradia, admitted to dealing in foreign currency since 2009-2010 without the required licenses.
He got the money from travelers coming to India.
The officials think there might be more people involved in this illegal activity, and they are still investigating.
The man has been arrested and is in judicial custody.
Customs officials seized ₹7.63 crore in smuggled foreign and Indian currency from an office in Mandavi, South Mumbai.
The raid was based on intelligence about illegal foreign currency activities.
H.M. Koradia, the 62-year-old owner, admitted to dealing in foreign exchange since 2009-2010 without proper licenses.
Koradia acquired the currency from travelers and did not maintain any records.
Investigations suggest a possible network of individuals involved in smuggling unauthorized foreign currency.
- Who
- H.M. Koradia (62), owner of the office in Mandavi
- What
- Seizure of ₹7.63 crore in smuggled foreign and Indian currency
- When
- November 27, 2023
- Where
- Mandavi, South Mumbai
- Why
- Illegal foreign exchange trade without proper licenses or permissions
- Amount Seized
- ₹7.63 crore
- Location
- Mandavi, South Mumbai
- Suspect
- H.M. Koradia (62)
- Charges
- Customs Act
- Custody Status
- Judicial custody
- Investigation Status
- Ongoing
- Linked Region
- Middle East