Chennai Customs summons Ponguleti Harsha Reddy in Rs 100 crore luxury watch smuggling case

HYDERABAD: Chennai Customs has summoned Ponguleti Harsha Reddy, son of Revenue Minister Ponguleti Srinivas Reddy, for his alleged involvement in a high-end watch smuggling operation. The case, which surfaced on February 5, involved the seizure of two luxury watches - a Patek Philippe 5740 and a Breguet 2759 - from Muhammed Faherdeen Mubeen, an Indian national based in Hong Kong, who arrived in Chennai from Singapore.

The value of the seized watches was estimated by Customs to be Rs 1.73 crore. Notably, the Patek Philippe 5740 has no authorized dealer in India, and the Breguet 2759 is currently out of stock in the Indian market, according to an official press release by Chennai Customs.

Customs investigations revealed that Harsha Reddy allegedly purchased the watches from Mubeen through an intermediary, Alokam Naveen Kumar, who was questioned by Customs on March 12. Naveen Kumar reportedly confessed to facilitating the deal between Harsha and Mubeen, using a combination of USDT cryptocurrency and cash routed through hawala channels, Customs sources stated.

While Harsha Reddy has denied the allegations, dismissing them as "baseless," the Madras High Court observed on March 18 that the total value of the smuggling operation over time could exceed Rs 100 crore, according to case records.

The investigation is ongoing, and Harsha Reddy’s involvement remains under scrutiny.