Raids on Aditya Birla, BK Birla firms; Rs 77 lakh yarn seized

November 17, 2013

Aditya-BirlaThane, Nov 16: Godowns of the Birla Group owned companies at Bhiwandi near here were raided by the officials of the Controller of Legal Metrology and yarn worth around Rs 77 lakh were seized for want of proper packaging on the material, an official release said here today.

The release stated that the raids were conducted under the direct guidance of the Controller of Legal Metrology, Ashok Dongre.

The seized goods comprised yarn manufactured by Century Rayon of the BK Birla Group worth Rs 43,92,500 and Aditya Birla Nuvo worth Rs 33,00,000.

According to the release, the seized goods did not have any declaration as stipulated in the Weights and Measures Act and also the Legal Metrology Act and Rules 2009 and 2011.

However when contacted, a spokesperson of the Aditya Birla Group said the company was fully compliant with the packaging norms and was not aware of any new packaging stipulation as the seized goods were packed as per the existing per industry packaging norms.

"We are fully compliant with the existing packaging regulations and we are sure to convince the authorities about the same. We don't know of any new packaging norms.

"The seized yarns are industrial raw materials for textile manufacturing to be marketed to institutional clients. The quantities are in 50 kg cartons, which is the industry size packaging," the spokesperson said.

According to the industry practice, raw materials are not mandated to carry packaging labels, said an industry analyst.

BK Birla group could not be contacted for reaction.

Cases of violation under the said rules and Act have been registered against the concerned for having failed to make declarations on the packages, the release said.

Further probe and action into the case is being carried out by the office of the Controller of Legal Metrology, the release said.

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News Network
July 21,2020

New Delhi, Jul 21: The Enforcement Directorate is understood to have initiated a process to freeze over 60 bank accounts in the country on the request of the Brazilian government in connection with a money laundering case in that country, offiicials said on Monday.

They said the agency has undertaken the action under the provision of the Prevention of Money Laundering Act (PMLA) in pursuance of a mutual agreement between the two nations to combat financial crimes.

The over 60 bank accounts are held by some individuals and businessmen based in the country, they said.

The probe, they said, is linked to some high profile people of Brazil.

The suspected accounts sought to be frozen by the Enforcement Directorate (ED), on behalf of the Brazilian government, are stated to be of banks in Delhi and Mumbai, they added.

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News Network
June 12,2020

An Indian national was killed and four others injured in alleged firing by Nepal police personnel along the India-Nepal border in Bihar's Sitamarhi district today.

Sources said the firing took place after a clash between the Indians and personnel of Nepal police at the Lalbandi-Janki Nagar border in Pipra Parsain panchayat under Sonebarsha police station of the district.

Jitendra Kumar, the additional director general of police (headquarters), confirmed the death and injuries. The place of firing falls under Nepal jurisdiction.

Locals said Vikesh Kumar Rai, 25, died on the spot and Umesh Ram and Uday Thakur received bullet injuries when they were working in an agricultural field. Another person, Lagan Rai, is said to have been detained by the Nepali police.

Injured persons were rushed to Sitamarhi Sadar Hospital for better treatment.

Vikesh Kumar Rai’s father, Nageshwar Rai, said that his agriculture land falls under Narayanpur in Nepal where his son was working.

On May 17, Nepal police had fired blank rounds to disperse dozens of Indians trying to cross the border. It was not clear if they were also farmers.

The district magistrate and the superintendent of police of Sitamarhi have rushed to the spot.

Nepal shares a 1,850-kilometre (1,150-mile) open border with India and people travel across it for work and to visit family. It had closed its international borders on March 22 amid the coronavirus pandemic.

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News Network
June 5,2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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