ET reported that scrap importers were in for a shock when as many as 600 heavy metal scrap containers were found empty at Indian ports Jawaharlal Nehru Port Trust and Chennai.
The containers were received from a Dubai based suppliers and were shipped to India between last week of August and first fortnight of September this year.
Speaking to ET a senior officer at Mumbai Customs said that “While conducting a scan of the consignment on September 8, we found many of them lighter in weight compared to the other consignments carrying HMS. We have detained them and are awaiting filing of ‘Bill of Entry’ from the importers. If these bills are not filed within 30 days, we will have to take action against the exporter and their agent in Mumbai.”
In a warning issued to the members of BIR on September 11, Mr Ikbal Nathani the Ambassador for India in BIR wrote that “In the last fortnight 600 containers of HMS was sold by a party from Middle East through a Mumbai based Indian agent. Three months ago, the agent gave samples of HMS to many traders and actual users and offered them discounted rates. Satisfied with the material, the importers placed huge orders. However, they were duped as they have made advance payments. This fraud is worth millions of dollars.” He added that “Indian traders were induced by the discounted rates offered to them. Earlier, certain firms from South Africa and Russia had also shipped empty containers after receiving payments from the importers.”
(Sourced from www.steelguru.com)
Monday, September 28, 2009
Indian scrap importers duped by Dubai based seller - Report
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