Vizianagaram: Police on Tuesday busted a counterfeit currency racket and arrested six persons here. According to Superintendent of Police B Rajakumari, a former employee in Indian Navy and his close friends had generated fake currency notes on photocopying machines in Vizianagaram city. The gang had learnt printing fake currency notes from YouTube video.
The police, the SP said, had seized counterfeit currency notes with a face value of Rs 31 lakh and genuine currency notes worth of Rs 1.6 lakh from the arrested. K Ramu of Akkivaram village under Denkada mandal retired from Navy and formed a group of persons for printing counterfeit currency. The gang, in fact, had printed fake notes and even offered some of them to their friends and relatives. The gang’ bid to purchase sheep at a weekly market at Savaravilli village under Bhogapuram manda by using fake currency to pay proved to be its nemesis, the police said.Lear More
Directorate of Revenue Intelligence (DRI) and customs officials seized imported cigarettes to the tune of Rs 55 lakh at Surat railway. DRI and Customs officials had received information about the smuggled cigarettes that had been brought into the city in Howrah-Ahmedabad Express train. The consignment of the cigarettes was kept in the coach reserved for angadia parcels. The officials checked the entire train under the supervision of Customs superintendent Ghanshyam Soni. The cigarettes were brought to the Diamond City in boxes and were to be supplied to Asif Shaikh, official sources said.Lear More
Gold smuggling: For smuggling gold worth Rs 14 lakh, senior staff of Air India SATS, SriLankan Airlines held.
13, November 2018 l Times Now
New Delhi: Senior employees of Air India SATS and SriLankan Airlines are among three men held for allegedly smuggling gold worth over Rs 14 lakh at Delhi airport, according to an official statement issued Tuesday. It said an Indian man was intercepted after his arrival from Dubai on Sunday. He was apprehended in the toilet of international arrival hall while handing over smuggled gold to one airport staff working as a duty manager for AISATS, Delhi, it said.
“A detailed personal and baggage search of the passenger and airport staff resulted in the recovery of four gold bars total weighing 464 grams having a market value of Rs 14.39 lakh,” the statement issued by the customs said. Air India SATS or AISATS is a 50:50 joint venture between Air India Limited, and Singapore-based SATS Limited, a gateway services and food solutions provider in Asia.Lear More
Buyer beware! Here’s something every makeup lover needs to know!
If you haven’t heard, retailers selling fake cosmetics are running rampant all over the web. Counterfeit beauty products may sound innocent at first. After all, who wouldn’t jump at the chance to get a great deal on their favorite high-end cosmetics? But there’s a serious catch to buying a so-called “discounted” designer item.
TOBACCO Institute of Southern Africa (TISA) says efforts by the Zambian government to boost foreign reserves will remain exposed if the continued loss of annual revenue taxes worth K50 million through illicit trade and smuggling is not stopped.
TISA has since called for increased law enforcement and that border controls should be a priority for stakeholders including the Ministry of Home Affairs if Zambia is to address the country’s revenue losses, resulting from a drop in copper prices, among other factors.
Revenue officers have seized 45,000 cigarettes at Dublin Airport.
The seizure was made on Monday, when a passenger who had arrived from Nigeria via Frankfurt was stopped and searched at the airport.
The Benson & Hedges branded cigarettes had a retail value of €27,000, and would have represented a potential loss to the Exchequer of €21,375 if they had got through undetected. The passenger who smuggled the cigarettes, a 35-year-old Nigerian man, was subsequently arrested.
He appeared before Judge Bryan Smyth in the Dublin Metropolitan District Court earlier today, when he was remanded in custody to Cloverhill until May 28, when he will be brought before the Court again.
In a statement, the Revenue said that the majority of people pay the right amount of tax and duty on imports, and said this seizure was made as part of ongoing operations against illegal cigarette smuggling.Lear More
In a span of less than 24 hours, officers of the Directorate of Revenue Intelligence (DRI), Chennai Zonal Unit, seized a total of 32.249 kg of gold valued at Rs 10.215 crore. It was smuggled into India by sea and being transported to Chennai for sale.
Six people were apprehended in connection with the case and all of them in their statements admitted that they purposely transported the smuggled gold to Chennai.
The gold was being smuggled from Sri Lanka through coastal Tamil Nadu.
On Tuesday evening, DRI officials kept a strict vigil in the bylanes of Mannady and observed a person on a two-wheeler receiving a heavy suspicious looking package.
The receiver of the contraband was apprehended by the officials. After detailed examination the gold was found to weigh 12.149 kg.Lear More
FICCI seeks amendment in Form 27 & patent law to facilitate commercialisation of patented product & ease of doing business
The Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the patent office to amend Form 27 and update Patent Rules in line with international best practices so as to befit emerging technological fields, make commercialization of patented invention more easier and facilitate ease of doing business.
Form 27 needs to be submitted by patentees under Section 146 (2) of The Patents Act, 1970 providing details of commercial working of a patent in India.
Said Dipankar Barkakati, additional director and head – IPR & FICCI CASCADE at FICCI, “Existing Form 27 requirement has become redundant, burdensome, hampers ease of doing business, makes commercialization of patented invention more difficult and is not aligned to international best practices. There is thus an urgent need to remove Section 146 (working statement requirement from statute book). While, such a change in the law may take some time, meanwhile, may we request patent office to consider updating the Patent Rules and amend ‘Form 27’ befitting the emerging technological fields.”Lear More
A London woman who smuggled three million illicit cigarettes into the UK using false identities has been jailed after an investigation by HM Revenue and Customs (HMRC).
Xiou Yu Lin, 50, set up mailbox accounts in false names to receive packages, mainly from the Far East.
The parcels – from China, Hong Kong, Japan, India and the US – were wrongly declared as containing items such as ‘kids toys’ and ‘machinery parts’ to get through Customs and evade £904,865.73 in duty.
Southwark Crown Court heard Lin was involved in the scam between July 2011 and November 2016, illegally importing 3.2m cigarettes and 662.7kg of tobacco.
HMRC investigators caught Lin in Camden Town in November 2016 after she had picked up 6,000 Marlboro Gold cigarettes.
Lin, who admitted smuggling cigarettes and tobacco and several counts of using false documents, was sentenced to three years and four months in jail.Lear More
Leading international institutions like World Customs Organization (WCO), INTERPOL, United Nations Office for Drugs and Crime (UNODC), Organization for Economic Corporation and Development (OECD) and US Homeland Security will represent at FICCI CASCADE’s [Committee against Smuggling and Counterfeiting Destroying the Economy] 4th edition of its flagship annual international event titled under the title: MASCRADE 2017–Movement Against Smuggling and Counterfeit Trade scheduled on 12- 13 October 2017 in New Delhi. This year, the theme of the conference is ‘Protect Your Brand Globally: Fight Counterfeiting, Smuggling and Piracy’.
The market for contraband, smuggled and counterfeit goods is thriving in India and is today one of the biggest challenges faced by Indian industry. India today has the potential to become a global manufacturing hub. However, widespread smuggling, counterfeiting and piracy, can act as a dampener in achieving this goal.Lear More