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Luxury car dealership fires CEO after DRI probe

Luxury car dealership fires CEO after DRI probe
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IANS
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Directorate of Revenue Intelligence.(photo:Directorate of Revenue Intelligence). Image Source: IANS News
New Delhi, July 18 : After the Directorate of Revenue Intelligence (DRI) started a probe in luxury car smuggling racket, the Big Boy Toyz dealership has fired CEO Nipun Miglani with immediate effect.
The company has also denied any knowledge of the alleged scam.
Jatin Ahuja, MD of Big Boy Toyz said in a statement: Nipun Miglani is terminated with immediate effect and Big Boy Toyz does not hold any liability and responsibility towards his alleged individual transactions. ....

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Big Boy Toyz fires Nipun Miglani after DRI busts imported luxury car racket

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The three accused who were arrested include Nipun Miglani, a senior executive of Gurugram-based luxury car dealership, Big Boy Toyz, Liyakat Bachau Khan and Suriya Arjunan.
DRI launched ‘Operation Monte Carlo after it received a tip-off that a group of individuals was involved in smuggling high-end luxury cars into India in the name of diplomats.
It is estimated that more than 20 luxury vehicles have been smuggled into India in the name of diplomats over the past 5 years, resulting in duty evasion of more than Rs 25 crore.
New Delhi: The Directorate of Revenue Intelligence (DRI) on Friday (July 16) arrested three people in connection to a luxury car smuggling racket involving the misuse of diplomatic privileges. The three accused who were arrested include Nipun Miglani, a senior executive of Gurugram-based luxury car dealership, Big Boy Toyz, Liyakat Bachau Khan and Suriya Arjunan. ....

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Indian Used Car Market to Generate Revenue Worth $70.8 Billion by 2030, says P&S Intelligence

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NEW YORK, May 17, 2021 /PRNewswire/ With the growing influence of the Western culture, particularly the hip-hop culture, through TV, magazines, and social media, the demand for luxury cars is rising in India, especially among the youth. However, most of the people of the country are still not able to purchase new luxury vehicles, which is why they are looking at pre-owned automobiles. As a result, the Indian used car market size is expected to rise from $18.3 billion in 2020 to $70.8 billion in 2030, at a 14.8% CAGR between 2021 and 2030, according to P&S Intelligence.
In this regard, the emergence of organized used car dealers is proving hugely beneficial. For instance, Big Boy Toyz Pvt Ltd. (BBT) offers used cars of various luxury brands, including BMW AG, Cadillac, Lexus, Land Rover, and Jaguar. As it is easier for customers to trust organized dealerships than individual vehicle sellers, the proliferation of more established p ....

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Limited-edition Lamborghini Aventador SVJ on sale at Big Boy Toyz

The limited-edition Lamborghini Aventador SVJ is available for sale as one of India’s most expensive pre-owned sports coupe. ....

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BIG BOY TOYZ invests INR 15 Crores on enhanced customer experience and service

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New Delhi: For those aspiring to get a piece of high-end luxury, here’s good news! Big Boy Toyz has touted a massive investment of Rs. 15 crores in augmenting customer experience and service through numerous means Post Covid-19. Founded in 2009, BBT generated a revenue of Rs. 250 crore in the fiscal year 2018, and now envisages five times the revenue with heightened demand for its own vehicle in the present scenario. The giant boasts a wide range of brands such as Lamborghini, Ferrari, Bentley, and Aston Martin, straddling a price range from Rs. 50 lakh to Rs. 10 crores. Showcasing luxury automobiles virtually is the first-ever move taken by Big Boy Toyz in the industry of pre-owned car dealerships. ....

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