View this page: "executing arrest - non payment of CD"

[PRS]

Online edition of India's National Newspaper
Sunday, Jul 25, 2010
ePaper | Mobile/PDA Version


[Site Search]
________________________________________

________________________________________
Tamil Nadu
News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh |
Karnataka | Kerala | New Delhi | Other States | International |
Business | Sport | Miscellaneous | Engagements |
Advts: Retail Plus | Classifieds | Jobs | Obituary |
Tamil Nadu

Rs.746-cr. import duty evasion detected
Praveen Paul Joseph
— Photo: N. Rajesh

in the dock:S. Varadharajan, vice-president (indirect tax), Sterlite
Industries India Limited, Tuticorin, being taken to Judicial
Magistrate court - 1 in Tuticorin on Saturday.
Tuticorin: Officials of Central Excise and Customs (Divisional
Preventive Unit), Tuticorin, have unearthed a massive Rs.746-crore
import duty evasion by Sterlite Industries India Limited.
Vice-president (indirect tax) S. Varadharajan of the company has been
arrested on charges of involvement in the multi-crore scam.
He was produced in the Judicial Magistrate Court and remanded to
judicial custody.
Mr. Varadharajan, who has been charged under Section 135(1) (D) of
Customs Act 1962, was taken to Central Prison at Palayamkottai.
According to a source in the Central Excise and Customs Wing here, the
company imported the copper concentrate under the advance licence
scheme without payment of duty with an obligation to re-export the
resultant final products.
Investigations revealed that it had allegedly cleared the final
products intended for export to the Domestic Traffic Area Market
(DTA), evading customs duty of Rs.746 crore from February 2005 to May
2010.
Evasion denied
Sterlite Industries India Limited claimed that the company had not
evaded any excise or customs duty related to copper operations in
Tuticorin. It paid annual duties and taxes of over Rs.1, 000 crore and
had been following legal and statutory provisions. The High Court had
heard the matter and reserved the orders on July 22 and it had granted
stay till the disposal of writ petition, the company stated in a press
release.
Printer friendly page
Send this article to Friends by E-Mail
________________________________________
________________________________________
Tamil Nadu
News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh |
Karnataka | Kerala | New Delhi | Other States | International |
Business | Sport | Miscellaneous | Engagements |
Advts: Retail Plus | Classifieds | Jobs | Obituary | Updates: Breaking
News |

News Update
Stories in this Section
• Footwear fair opens in Ambur
• Vital task
• “State ready to offer land for Vellore airport”
• Three govt. hospitals to get blood banks soon
• Incentive to students
• DMK alliance wins two seats in local body by-elections
• Subsidy for purchase of farm implements
• Lead, kindly light
• For a clean future
• Love all
• Lack of professionalism a worry
• Help
• Call to widen ambit of education in rural areas
• Bypoll results declared
• MP inspects amenities at railway station
• Correction
• Recognition
• Rs. 746-crore import duty evasion detected
• Enchanting
• “I believe in theatre's imaginative power”
• His film making ambition took off from hostel
• Not utilised
• House burgled
• Bird paradise
• Drive against stray dogs
• Demonstration seeking halting of Cholan Express at Budalur
• Toll-free helpline for differently abled children
• New facilities for temple
• Steps to control spread of root wilt disease
• Sri Lankan refugees screened at camp
• Efforts must to curb illegal banners: court
• India office of Technotrans launched
• Rs.746-cr. import duty evasion detected
• DMK bags 50 out of 75 seats in urban local body by-polls
• “Avert TASMAC staff strike”
• Industry must work in partnership with government: Venu Srinivasan
Archives
Yesterday's Issue
Datewise
Features:
Magazine
Literary Review
Metro Plus
Open Page
Education Plus
Book Review
Business
SciTech
NXg
Friday Review
Cinema Plus
Young World
Property Plus
Quest

________________________________________
________________________________________
The Hindu Group: Home | About Us | Copyright | Archives | Contacts |
Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business
Line ePaper | Sportstar | Frontline | Publications | eBooks | Images |
Ergo | Home |
Copyright © 2010, The Hindu. Republication or redissemination of the
contents of this screen are expressly prohibited without the written
consent of The Hindu
________________________________________



Click on http://groups.google.co.in/group/society-of-indirect-tax-executives/web/executing-arrest---non-payment-of-cd?hl=en
- or copy & paste it into your browser's address bar if that doesn't
work.