Gautam Singhania's luxury yacht seized by Customs

The Customs Intelligence Unit (CIU) seized a luxury yacht owned by business magnate Gautam Singhania yesterday. According to sources in the Customs, the yacht, which goes by the name of YK Ashena, sought exemptions from certain import rules, and then violated them, inviting a warning and the confiscation yesterday.

Sources told this newspaper that any yacht which is registered with a foreign country cannot remain parked in India beyond a stipulated period
of time. "The yacht was seized after it was found violating import norms enforced by Indian Customs, and a detailed inquiry is being conducted on the matter," a Customs officialsaid.

There are also allegations that Ashim Mongia of the Royal Bombay Yacht Club, who has been handling the management of Ashena, flouted Customs guidelines, without having valid documents for the vessel's anchorage. Mongia said, "I am not aware of any such development taking place."u00a0

YK Ashena
This 153-foot-long luxury tri-deck power yacht is the product of the rich Indian tradition of handcrafting boats, using indigenous products like Burma teak.