Gautam Singhania’s ‘love’ costs him big, pays heavy penalty of Rs 3280000000 for…

Gautam Singhania is one of the richest persons in India with a net worth of more than Rs 11000 crore. He is the chairman and managing director of the Raymond Group. Gautam Singhania’s name pops up next to Mukesh Ambani, Ratan Tata and others when you talk about the most celebrated industrialists in India. He is known for his extravagant lifestyle and he has made it to the news several times in the past due to his love for cars. In a surprising turn of events, his love for exotic cars have now cost him big due to which he had to pay a whopping fine. According to a report by Economic Times, the billionaire has paid a heavy penalty of Rs 3280000000 for importing 142 vehicles without paying the necessary duties. DRI filed a case against Singhania for evasion of the duties and he has reportedly now settled it by paying Rs 3280000000 penalty.

The penalties include the duties worth Rs 2297200000 along with interest and 15% fine. The report further reveals that the 142 vehicles imported by billionaire Gautam Singhania includes 138 vintage cars and four R&D vehicles. The vehicles were reportedly bought from reputed auction houses including Sothebys, Barret-Jackson and Bonhams.

Gautam Singhania is believed to be planning a car museum at JK House, Cumballa Hill. He owns a range of supercars including Maserati MC20, McLaren 570S, McLaren 720S, Lincoln Zephyr Hotrod, 1973 Pontiac Trans AM SD, Lotus Elise, Honda S2000, Ferrari 296 GTB and others can be spotted in Gautam Singhania’s garage.