The Directorate of Revenue Intelligence (DRI) has arrested two persons for a Rs 115 crore fraud involving the availment of export incentives by entities without eligibility, officials said on Wednesday, reported news agency PTI.

Those arrested were a Mumbai-based individual, dubbed by the central agency as the "mastermind" of the fraud, and a customs broker. 

The DRI had specific intelligence about a syndicate fraudulently availing duty drawback and RoSCTL benefits by exporting misdeclared and overvalued garments to African countries by using several dummy IECs (importer-exporter codes) from ICD (inland container depot) Talegaon in Pune, an official said, reported PTI.