ED seized two office buildings, five flats, one plot and two luxury cars of Raipur based Alankar Alloys Pvt Ltd and Pankaj Ispat Ltd for 'illegally manufacturing' SAIL brand TMT bars in their factories
In the first case of money laundering charges being slapped for violation of the Trade Marks Act in India, the Enforcement Directorate (ED) has seized assets worth Rs7 crore of two Chhattisgarh based companies for allegedly fake branding of Steel Authority of India (SAIL).
The agency has seized two office buildings, five flats, one plot and two luxury cars, an Audi and a BMW, of two Raipur based companies-- Alankar Alloys Pvt Ltd and Pankaj Ispat Ltd-- for 'illegally manufacturing' SAIL brand TMT bars in their factories.
The case dates back to April 2013 when SAIL lodged a formal complaint with the Chhattisgarh police stating that these companies were allegedly indulging in fake branding of its name which has not only caused damage to the reputation of one of the largest iron and steel makers of the country but was also making it loose money.
The ED's zonal office in the Chhattisgarh capital registered a case under the Prevention of Money Laundering Act (PMLA) after taking cognisance of the police FIR and its probe till now has found that both the accused firms have allegedly laundered huge sums of money in violation of the Trade Marks Act, 1999.
This is the first time that the central probe agency has taken cognisance of a money laundering instance in a crime which is not registered under the usual criminal or anti-corruption laws but under the Trade Marks protection laws.
The ED found the 'SAIL brand TMT rods' were being made clandestinely and were being sold at "inflated costs" outside the state through a company registered in the name of Baid Steel Pvt Ltd at Raipur.
Gavaskar will have to get out of the contract with BCCI for commentary in order to discharge the duty assigned by the Supreme Court
The Supreme Court on Friday handed over the reins of Board of Control for Cricket in India (BCCI) to former player Sunil Gavaskar during the seventh edition of Indian Premier League (IPL) T20 tournament slated to begin on 16th April.
The apex court did not bar N Srinivasan-promoted Chennai Super Kings (CSK) and Rajasthan Royals (RR) from participating in the tournament.
Taking the cricket board out of incumbent Srinivasan’s hands, the Supreme Court directed that former cricketer Shivlal Yadav, who is also the senior most vice-president of BCCI will be looking after the affairs of the cricket board.
A bench of justices AK Patnaik and FM Ibrahim Kalifulla, which on Thursday had proposed barring CSK and RR in the tournament, however, refused to pass order in this regard allowing them to play the matches along with six other teams in the tournament beginning at Dubai.
The bench also said that Gavaskar will have to get out of the contract with BCCI for commentary in order to discharge the duty assigned by the court. It also directed BCCI to adequately compensate the veteran cricketer.
The order was given during hearing on the Mudgal Committee report that went into betting and spot-fixing allegations against those involved in CSK and RR during IPL6.
In a packed-courtroom, the bench made it clear that no employee of India Cements, except players and commentators, will be allowed to get involved in any duties or activities of BCCI.
It also said that it is for Gavaskar to decide whether Sundar Raman, the present chief executive of IPL to continue on his post or to be replaced after allegations were levelled against him in the court of protecting Srinivasan.
In the meantime, BCCI pleaded with the court to allow Srinivasan to hold the post of International Cricket Council (ICC) chairman from July. But the bench refused to pass any order regarding this.
The BCCI also vehemently rejected the allegations levelled against Indian cricket team captain MS Dhoni by Counsel Harish Salve, who accused him of “covering up” Gurunath Meiyappan.
“He has been wrongly vilified by media after false allegations were levelled against him in the court yesterday. He never made a statement that Meiyappan was just a cricket enthusiast as submitted by senior counsel Harish Salve,” senior advocate CA Sundaram, appearing for BCCI, told the bench.
“The Statement made yesterday was false,” he further said.
The Super Hercules was recently landed on the Daulat Beg Oldie air field near the China border and have helped in boosting the IAF’s capability to airlift troops closer to the border in times of emergency
In a major setback to the Indian Air Force (IAF), a US-made C-130J Super Hercules Special Operations transport aircraft crashed on Friday near Gwalior killing its five crew members, including four officers.
The aircraft had taken off from the Agra air base.
“One C-130J aircraft crashed 72 miles (115 km) west of Gwalior air base. The aircraft was airborne from Agra at 1000 hours for a routine flying training mission. A Court of Inquiry has been ordered into the cause of the accident,” an IAF spokesperson said.
Police in Jaipur said senior officials, including Superintendent of Police, Karauli, have rushed to the spot of the crash along the Rajasthan and Madhya Pradesh border.
India had recently inducted six C-130J Super Hercules aircraft, which were bought from the US at a cost of around Rs6,000 crore ($1.1 billion) four years ago.
The home base of the 77 squadron ‘Veiled Vipers’ operating the aircraft is Hindan in Ghaziabad.
The aircraft were recently landed on the Daulat Beg Oldie air field near the China border and have helped in boosting the IAF’s capability to airlift troops closer to the border in times of emergency.