In a major development in the high-profile gold smuggling case involving Kannada actress Ranya Rao, sources told CNN-News18 that she is likely to be released soon, as her preventive detention under the Conservation
of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA) completes its one-year term today.
According to sources, the actress may be released later today or by tomorrow, after her legal team completed the pending surety formalities required for her regular bail.
Sources stated that while Rao was granted regular bail several months ago, she remained in custody as she was under preventive detention under the COFEPOSA Act. With the one-year detention period now completed, enforcement agencies, including the Directorate of Revenue Intelligence (DRI), are not in a position to seek further detention under the same preventive provisions, paving the way for her possible release.
Rao has been accused in a massive Rs 102 crore gold smuggling case, which investigators allege involved a sophisticated syndicate that smuggled more than 127 kilograms of gold into India over the span of a year.
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The smuggled gold was allegedly circulated in the domestic market through an organised network of handlers and jewellers, making it one of the most significant gold smuggling rackets uncovered in recent years.
Rao and another accused, identified as Jain, were detained in April last year under COFEPOSA provisions for allegedly facilitating the illegal smuggling network.
The preventive detention order was later upheld by higher courts, including the Supreme Court, which had earlier refused to interfere with the detention, citing the seriousness of the allegations and the scale of the alleged smuggling operations.
The case has drawn widespread attention due to the involvement of a film personality and the scale of the alleged financial crime. Officials have maintained that the investigation uncovered a well-organised international network that used multiple carriers and handlers to transport gold into the country and distribute it across local markets.
With the completion of the statutory one-year detention period and the fulfilment of bail formalities, Rao’s release now appears imminent.
However, legal proceedings in the gold smuggling case are expected to continue, with enforcement agencies pursuing prosecution against all those allegedly linked to the smuggling syndicate.
