New Delhi, Aug. 16 -- The Directorate of Revenue Intelligence (DRI), in a month-long intelligence-led operation, has dismantled a major network involved in importing South-East Asian areca nuts into India by falsely declaring them as Bangladeshi origin and fraudulently availing concessional duty benefits under the South Asian Free Trade Area (SAFTA), the Ministry of Finance said in a statement.

The investigation has so far revealed a potential revenue loss of more than Rs 2,500 crore to the exchequer, while nine persons have been arrested in connection with the case.

According to the Ministry, syndicates were importing areca nuts into India from Indonesia, Thailand, Malaysia and other Southeast Asian countries and falsely declaring Bang...