Diamond World, owned by Awami League’s Trade and Industry Subcommittee member Dilip Kumar Agarwala, evaded value-added tax (VAT) of Tk25,200 crore in the last 15 years, said sources at the investigation agency concerned.
However, the investigation against the company was covered up with the direct intervention of the top figures of the deposed Awami League government. Several officials involved in the investigation were immediately transferred from the VAT Audit, Intelligence & Investigation Directorate, according to National Board of Revenue (NBR) sources.
Recently, Dilip Agarwala was also accused in a case filed over the murder of a student killed during the anti-discrimination movement.
Several staff members of Diamond World said Dilip Agarwala sold valuable glass in the name of diamonds. Besides, at the time of selling a jewellery item, they impose a condition that the customer can exchange or sell the diamond only at their shop.
According to NBR sources, Diamond World has around 30 showrooms across the country, including the capital Dhaka. Dilip Agarwala did not pay any VAT during the 15 years of Awami League’s rule, although diamonds worth Tk4-5 crore were sold from these showrooms.
According to NBR officials, Dilip Agarwala has evaded VAT worth Tk1,620 crore annually. As such, in the last 15 years, Diamond Wald has not paid Tk25,200 crores of VAT.
When revenue authorities started investigating Dilip Agarwala’s tax evasion, he put a halt to it by using influence. Those who initiated the investigation were transferred to different places.
Dilip Agarwala used to take pictures with ousted Prime Minister Sheikh Hasina’s daughter Saima Wazed Putul and send those to ministers, bureaucrats and high-ranking officials of various government departments to intimidate them. At the same time, he would ensure that no legal action is taken against him.
According to Anti-Corruption Commission (ACC) sources, on 10 October 2017, a complaint was lodged against Dilip Agarwala at the ACC head office. It is alleged that he has acquired illegal assets worth hundreds of crores of taka through the smuggling of gold and diamonds along with tax evasion.
The Central Intelligence Cell (CIC) of the NBR, alongside the ACC, initiated an investigation into Dilip Agarwala’s income tax returns and VAT falsification. However, the investigation remains mysteriously concealed.
NBR sources indicate that no diamonds have been imported into the country recently. There will be an investigation into whether Dilip Agarwala imported diamonds or something else under the guise of diamonds. If diamonds were imported, they would be subject to over 150% tax and examined whether the tax was paid.
Some Diamond World salesmen mentioned that six months before the 12th National elections, the NBR fined Dilip Agarwala Tk770 crore. However, a very influential person from the previous Awami League government intervened, leading to the suspension of the fine. Following the intervention, all investigations were stalled by bureaucratic red tape.
Dilip Agarwala served as a member of the Awami League’s sub-committee on industrial affairs in the last two sub-committees, securing the position through his connections with Obaidul Quader and Salman F Rahman.
Additionally, he was a donor to the Awami League and was allegedly involved in gold smuggling, with various irregularities reported in his area. Intelligence sources revealed that he funded police action against students during the recent quota reform movement and, despite being a defendant in a murder case related to the Anti-Discrimination Student Movement, he continues to move freely in public.
On 19 July, during the Anti-Discrimination Student Movement, a case was filed involving 161 people, including Sheikh Hasina, Sheikh Rehana, Sajib Wazed Joy, and Dilip Agarwala, following the shooting death of Hriday Hossain Shihab in Badda, Dhaka.
The case, filed by former Shibchar municipality councillor Shahadat Hossain Khan on 22 August, also listed 400 to 500 unidentified individuals. Despite being an accused, Dilip remains publicly active.
In another case, the murder of Jhenaidah-4 Constituency MP Anna was linked to a conflict over control of a gold smuggling route in southwestern Bangladesh, with Dilip Agarwala’s name surfacing during the investigation. Despite his involvement in two high-profile cases, he continues to operate openly.
Following the arrest of model Faria Mahbub Piyasa, discussions surfaced about Dilip Agarwala, who amassed wealth worth thousands of crores through illicit activities, including gold smuggling, diamond fraud, and hundi transactions.
Piyasa’s confession revealed that the Mishu-Piyasa network sold illegally imported gold and adulterated diamonds to Dilip at low prices, depriving the government of substantial tax revenue. Dilip Agarwala’s former associates also claimed a customs investigation would uncover further information about his tax evasion. Complaints were lodged with the ACC accusing him of laundering money to establish three jewellery stores and 11 houses in Kolkata, as well as luxury residences in Canada and Dubai. He also became a bank director with Tk40 crore, yet government agencies have taken no action against him, for reasons that remain unclear.
BDST: 1053 HRS, AUG 30, 2024
MN
