<h1>Syndicate busted for Rs 114.74 crore export-incentive fraud using fake IECs, fake invoices, and misdeclared garments</h1> Two arrests were made in a DRI probe uncovering a Rs 114.74 crore export-incentive fraud where a syndicate used fictitious IECs, misdeclared and overvalued garment exports to African markets, and submitted fake invoices to fraudulently claim duty drawback and RoSCTL benefits. Authorities intercepted consignments, conducted searches at multiple premises, and recovered digital evidence; preliminary findings identify 14 bogus IECs and procurement of low-quality goods without proper invoices or e-way bills. The alleged mastermind and a complicit customs broker face prosecution for customs and fraud-related offenses, with further investigation and potential additional charges ongoing.