(i) Imposed Custom Duty of 10% on Gold Imports on Aug 13, 2013; &
(ii) Import of Gold, which was free under ‘Exim Policy’,was prohibited on Aug 14, 2013 2/
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See Office Memo of May 15, 2014 & Final Circular by RBI on May 21,2014 4/
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Interestingly, this was a direction was given by the Modi Govt and not by RBI 7/
![](https://pbs.twimg.com/media/DXxW_lwW0AAt8mY.jpg)
Revenues dipped from Rs10380 Cr (2012-13) to Rs 7343 Cr (2013-14)
& Profits dipped from Rs 265 Cr (2012-13) to loss of Rs 22.65 Cr (2013-14) 8/
![](https://pbs.twimg.com/media/DXxXj__VoAAvbiT.jpg)
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His companies went up from a loss of Rs 22.65 Cr (2013-14) to a Profit of Rs18.86Cr (2014-15)i.e over 200%
Even Mehul Choksi states accepts impact of 80:20 9/
![](https://pbs.twimg.com/media/DXxY6p0V4AABYpc.jpg)
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